Following multilateral climate negotiations, countries increasingly recognize the urgent need to address short-lived climate pollutants, particularly methane (CH4CH_4CH4), which has a warming potential dozens of times higher than carbon dioxide. The Global Methane Pledge aims to collectively reduce global methane emissions by 30% by 2030. However, critics argue that voluntary pacts suffer from international free-rider problems, leading some nations to pioneer domestic market-based solutions such as tradable emissions permits and agricultural methane quotas.
Fig. 3.1 – Global anthropogenic methane emissions & policy participation (selective data)
| Rank | Country/Region | % of global methane emissions | Global Methane Pledge Signatory? | Tradable Methane Permit Scheme? |
|---|---|---|---|---|
| 1 | China | 18.20 | No | Limited (Pilot) |
| 2 | India | 12.10 | No | No |
| 3 | United States | 9.40 | Yes | Limited |
| 4 | Russia | 7.60 | No | No |
| 5 | Brazil | 6.50 | Yes | No |
| 6 | European Union | 5.80 | Yes | Yes |
| 7 | Indonesia | 3.50 | Yes | No |
| 8 | Pakistan | 2.80 | Yes | No |
| 9 | Australia | 1.90 | Yes | Limited |
| 10 | Canada | 1.70 | Yes | No |
Evaluate, using the information in Extract 3, the extent to which the Global Methane Pledge and tradable emission permit schemes will be effective in solving environmental market failure.
