There are over a thousand such cases identified that could be addressed. The new Fossil Fuel Regulatory Programme of the CCAC will support 20 countries to devise and enforce regulation. And over 140 oil and gas companies have joined UNEP’s Oil and Gas Methane Partnership 2.0 to measure and reduce their methane emissions. 

The potential for quick gains and for systemic change is clear. The will to act is increasingly there. The role of UNEP as a core supporter of implementing the pledge is clear. Now we must do much more, much faster, in a more united manner, across all methane-relevant sectors. 

To do so, financing must grow. The CCAC received more than US$650 million in funding requests in 2024, with only US$14 million to allocate. We celebrated the Finance Sprint outcomes last year, but to meet the estimated need of US$48 billion by 2030, annual flows must increase at least 3.5 times. 

The next round of NDCs is a chance to do more and send investors a strong signal. The CCAC is supporting over 30 countries with these updates and has released guidance on including super pollutants in NDCs – which would also bring benefits for health, jobs and economic development by improving air quality. Nations must follow this guidance. 

Of course, action in NDCs must go beyond the oil and gas sector, which is why UNEP partnered with the COP29 Presidency on the Reducing Methane Organic Waste Declaration. And why the CCAC is supporting countries to include ambitious waste actions in their NDCs and supports regulation to unlock private sector action. But we also need innovation. And more transparency – which is why the revamped Eye on Methane data platform is being launched today to help track progress. 

Friends,

Action on methane is critical to slow global temperature rise. It is fast-acting and cost-effective. The tools are there to turn the screw on methane emissions. So, I call on everyone to commit to the triple A of action, ambition and alliances. And deliver huge benefits for people and planet.