Methane reduction can have a bigger climate impact than carbon dioxide in the short term. Here are four ways to diversify methane mitigation.
In recent years, carbon markets have been heralded as a pivotal mechanism in the global effort to combat climate change. These markets—both compliance-based and voluntary—have facilitated the trading of carbon credits, allowing entities to offset their emissions by investing in projects that reduce or remove greenhouse gases elsewhere. However, as the carbon market landscape evolves, it’s becoming clear that carbon markets alone are insufficient, especially when addressing potent greenhouse gases like methane, whose global warming potential is about 80 times higher than carbon dioxide over a 20-year period.
Here, we explore emerging strategies to reduce methane emissions at corporate, national, and global levels.
Building on What Works
Despite growing pains, carbon markets have achieved large success in reducing greenhouse gas emissions. They have helped many companies and countries accelerate emissions reductions at lower costs, according to the UN Environment Programme. The World Bank also reports that compliance and voluntary markets also have spurred widespread support for climate tech innovation, climate and nature programs, and local and indigenous communities affected by climate change.
Diversifying Methane Mitigation Strategies
A methane-reducing vaccine for livestock presents a promising avenue for immediate and cost-effective methane mitigation. But for this and other enteric methane reduction solutions to realize their potential, it’s essential to explore monetization and implementation strategies beyond traditional carbon markets.
1. Scope 3 Emissions Reduction
Companies, particularly in the food and agriculture sectors, are increasingly focusing on Scope 3 emissions—those indirect emissions that occur in a company’s value chain. Livestock methane emissions constitute a significant portion of these.
By adopting methane-reducing vaccines, companies can directly address these emissions, enhancing their sustainability profiles and meeting stakeholder expectations. This proactive approach helps achieve corporate climate goals while increasing brand leadership in sustainability.
2. Integration into National Climate Action Plans
Under the Paris Agreement, countries have outlined their own climate action plans through Nationally Determined Contributions (NDCs). Incorporating methane-reducing vaccines into these plans can provide nations with a viable strategy to meet their emission reduction targets. Countries such as Sweden and Denmark have plans to use voluntary credits to help meet their national climate targets.
This integration can also attract international funding and technical support, facilitating large-scale implementation and fostering innovation in the agricultural sector.
3. In-Country Licensing and Deployment
For widespread adoption, especially in developing countries, localized production and distribution of methane-reducing vaccines are crucial. In-country licensing agreements can empower local manufacturers, ensuring the vaccines are tailored to regional needs and accessible to farmers.
This approach not only promotes technology transfer and capacity building but also stimulates local economies, creating jobs and fostering sustainable development.
In 2021, the World Health Organization created the mRNA Vaccine Technology Transfer Hub to help low- and middle-income countries develop local vaccine manufacturing capacity to respond to human health challenges like COVID-19. Similar programs to supply a climate vaccine could help drive methane reduction in all parts of the world.
4. Development of Methane Reduction Credits
Beyond traditional carbon credits, there’s potential to develop specific methane reduction credits. These credits can be integrated into emerging carbon trading systems, providing a transparent and verifiable mechanism to monetize methane mitigation efforts.
Such credits can attract investments from corporations seeking to offset their methane emissions, thereby creating a new revenue stream for farmers and incentivizing the adoption of methane-reducing technologies.
Three examples of methane-specific credit programs include:
- AgriCapture’s Methane Reduction Carbon Credits, which collaborates with U.S. rice farmers to implement water-saving irrigation practices that reduce methane emissions.
- Athian’s Insetting Carbon Marketplace, developed in partnership with Elanco Animal Health, which enables livestock producers to generate and sell verified carbon credits based on enteric methane reduction practices within their own supply chains.
- California’s Compliance Offset Protocol for Livestock Projects, administered by the California Air Resources Board, which quantifies methane emission reductions from manure management systems.
Each of these is commendable, but no single program is enough. And addressing the large impact of enteric methane emissions specifically is a must if we are to meet the world’s emissions reduction goals.
Emissions Reduction Strategies That Move Us Closer to Our Climate Goals
While carbon markets remain a vital tool in the fight against climate change, diversifying strategies to include approaches like methane-reducing vaccines is imperative. By exploring avenues beyond traditional carbon markets—such as integrating these vaccines into corporate sustainability efforts, national climate plans, localized production, and innovative credit systems—we can accelerate methane mitigation and move closer to our global climate goals.
