October 1, 2024

EXECUTIVE SUMMARY

Amid rising methane emissions across Africa and limited financing solutions to address this trend, the role of multilateral development banks (MDBs) is becoming increasingly critical in meeting climate goals and the Paris Agreement. Despite methane’s significant reduction potential at relatively low cost, it receives only about 1% of global climate funding (approximately $13.7 billion in 2021/2022 compared to an annual requirement of $48 billion by 2030), with a negligible share allocated to Africa. This underfunding reflects the limited focus of international climate finance institutions and MDBs on methane abatement projects. This study examines the sources of methane emissions, the importance of their reduction, and the role MDBs should play in significantly reducing methane emissions in Africa.

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