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A new report, “Global Innovation Needs Assessment: Food Systems Methane” funded by the Global Methane Hub and ClimateWorks Foundation revealed that the food system currently accounts for an estimated 60% of global human-caused methane emissions, with most resulting from agricultural activities.
The potent greenhouse gas will continue to have outsized climate impacts on the three billion people who work in the agriculture sector. While investments in food system methane innovations are increasing, they are still insufficient to unlock the full potential of mitigation, economic benefits, and co-benefits. In Africa, for instance, the food system sector is largely perceived as high-risk, resulting in a low investment rate.
According to the report, the World Bank has also committed to financing over $2.5 billion in projects aligned with climate-smart agriculture. The Global Methane Pledge launched methane-reducing investment platforms in the food system in late 2022, coordinating over $900 million of dedicated funds to be deployed in the coming years across the agriculture and waste sectors. This funding comes from national and multilateral organizations.
SOURCE: VENTURES AFRICA