The United States has reached an agreement with China and Azerbaijan to hold a summit on methane and non-CO2 gases during the first days of the Conference of the Parties (COP29) in Baku, according to John Podesta, the US President's Special Advisor on International Climate Policy.
Report informs that during a briefing for Azerbaijani journalists, Podesta emphasized the importance of addressing these non-carbon gases, which receive less attention but account for half of global warming.
He said the United States wants to work in partnership to ensure that countries come forward with new commitments to reduce gases like methane, nitrous oxide, hydrofluorocarbons, and other greenhouse gases.
Podesta also expressed a desire to finalize what is known as Article 6 of the Paris Agreement during this round of meetings at COP29 to ensure the proper functioning of highly integrated carbon markets and fulfill the promise of proper accounting between countries, which has been a time-consuming process.
He believes that progress on the topic has been made at this meeting.
Podesta noted that one of the most significant outcomes of the conference will be a new collective financial goal, known as the NCQG. This builds upon the commitment of $100 billion per year agreed upon under the Paris Agreement in 2015. The parties have agreed to come forward with a new collective quantitative agreement by 2025, and productive discussions have taken place during the current Pre-COP.