Two-day event in Baku ahead of COP29 will gather high-level participants from around the world to help make substantial promises from past year a reality
The International Energy Agency (IEA) and the COP29 Presidency of Azerbaijan will co-host a major event aimed at implementing growing commitments to cut methane emissions from fossil fuels – a critical step in keeping the goal of 1.5 °C within reach.
The two-day event will take place in Baku, Azerbaijan, in September – shortly before the city hosts the COP29 climate change conference. The signature event will bring together high-level participants from governments, international organisations and the private sector to discuss the imperative of moving from pledges on methane to action and the key strategies for accelerating progress ahead of COP29.
The event will also include a special focus on the Caucasus and Central Asia, exploring measures underway to tackle methane emissions in the region, as well as their impact, what more can be done, and the importance of regional partnerships in overcoming remaining challenges.
Methane is a powerful greenhouse gas responsible for almost a third of the rise in global temperatures since the Industrial Revolution. The most recent update to the IEA’s Global Methane Tracker highlighted that while methane emissions from the energy sector remained near a record high in 2023, the world could soon reach a turning point in efforts to reduce these emissions based on announced pledges from governments and companies..
According to IEA analysis, to limit global warming to 1.5 °C, a key goal of the Paris Agreement, methane emissions from fossil fuels need to decline by 75% this decade.
“For years, the IEA has led efforts to focus global attention on methane emissions from the energy sector, which are a significant driver of climate change. The commitments made in the past year have been extremely encouraging,” said IEA Executive Director Fatih Birol. “However, we need more than just promises. It is essential that governments and companies continue to boost their ambitions while fully implementing the pledges they’ve already made. We look forward to hosting this signature event with the COP29 Presidency in order to deliver meaningful action.”
“Tackling methane emissions will be essential to delivering the COP29 Presidency’s plan to enhance ambition and enable action,” said COP29 President-Designate Mukhtar Babayev. “As countries prepare to enhance ambition in their upcoming national plans, we are working to ensure everyone has the support they need to include methane abatement. And then we must enable action through finance and technology so that we can deliver our promises. Azerbaijan is leading by example through the Global Methane Pledge and we are hosting this important event with the IEA on the road to COP29 because we believe it’s time to invest today to save tomorrow.”
The IEA’s data and analysis on methane has played an important role in increasing accountability. The Agency’s annual Global Methane Tracker is internationally recognised as an indispensable tool in the fight to bring down methane emissions from across the energy sector. The IEA will also soon release an open-access model that can be used to explore methane abatement options for oil and gas operations.
The signature event on methane forms part of the IEA’s expanding work in collaboration with COP Presidencies. The IEA and Azerbaijan are working together to build momentum towards bolder action on energy and climate issues at COP29 in Baku – including by co-hosting a series of High-Level Energy Transition Dialogues in partnership with the UN Framework Convention on Climate Change ahead of the summit. The first dialogue took place at the IEA’s headquarters in Paris last month, and the second will be held in London on 24 June....
Read the full news release here
