President Biden announced that the U.S. Trade and Development Agency will fund a series of activities to support the abatement of methane emissions in emerging economies worldwide. Specifically, USTDA will support a three-part series of reverse trade missions to the United States that will introduce oil, gas, and other sector leaders from emerging economies to U.S. industry, financial institutions, and policy and regulatory experts that can advance their emissions reduction and energy security goals. The announcement was made during the 27th Conference of the Parties to the U.N. Framework Convention on Climate Change (COP27).
“Reducing methane emissions is one of the most important steps we can take today to slow the pace of climate change,” said Enoh T. Ebong, USTDA’s Director. “U.S. companies have cutting-edge and cost-effective solutions that can help our partners across the world reduce their methane emissions, meet their climate goals, and capture an otherwise wasted source of energy. Building global partnerships is an essential part of USTDA’s strategy for deploying these solutions in furtherance of sustainable infrastructure goals in emerging economies.”
USTDA’s reverse trade mission series, which will take place during 2023, will include public and private sector officials from the Indo-Pacific; Latin America and the Caribbean; Middle East, North Africa, Europe and Eurasia; and sub-Saharan Africa.
The announcement comes as the U.S. government reaffirms its commitment to the Global Methane Pledge, through which more than 130 countries have committed to slashing global methane emissions 30% from 2020 levels by 2030. USTDA’s reverse trade missions will support partner countries as they set standards and implement methane abatement projects in fulfillment of the Global Methane Pledge.
Methane is a highly potent greenhouse gas that has significantly contributed to climate warming. Each year, billions of cubic meters of natural gas, primarily comprised of methane, are currently wasted from gas flaring and other sources of emissions.
USTDA’s reverse trade mission series advances the goals of the Biden-Harris Administration’s Partnership for Global Infrastructure and Investment and USTDA’s Global Partnership for Climate-Smart Infrastructure, which connects U.S. industry to major clean transportation and energy infrastructure projects in emerging economies.
