The White House has unveiled a range of new and updated COP28 goals.
Part of the launch include a so-called "Methane Finance Sprint" — a plea for nations to jointly raise at least $200 million in new public and philanthropic support for developing countries before COP28.
US President Joe Biden also announced more than $1 billion in funding to help developing countries tackle climate change.
Discussing the announcements with Net Zero Investor, Antoine Rostand, President of Kayrros, called the new measures "good news" as data indicates that most global super-emitters could be eliminated within two years.
"The announcement of a Methane Finance Sprint as part of Washington’s goals for COP28 is good news," Rostand said.
He stressed "it is crucial that as a global community we raise the money needed to take targeted action to reduce emissions. We're pleased the US is showing leadership here."
Rostand added that: "Of course, the efficacy of that action depends on the quality of the information available. That means independent, verifiable data.
" The data we currently provide to the UN International Methane Emissions Observatory will best illuminate how and in what way the money raised should be spent, and whether it produces the necessary result: a reduction in emissions."
"We know from our data that most global super-emitters could be eliminated within two years, in what would be the single biggest ever achievement for the climate. That’s feasible if the climate action this money allows is data-driven."
Moreover, Rostand said "The White House’s plan could also help developing countries to raise funds at lower borrowing costs by attaching sustainability-linked bonds to a reduction in methane emissions."
He singled out Uruguay as "that country has done precisely this in the past: reduced their greenhouse gas output as a precondition for raising funds with US support."
Rostand concluded "that would help to bridge the flow of capital between the Global North and Global South, while achieving massive emissions abatement."
