A post on the Point of Order blog today reports on concerns about the contribution of methane to climate change and to the research in New Zealand and Australia to find ways of reducing methane emissions in farm animals…
A warning bell sounded for New Zealand farmers when The Economist – in an editorial last week headed “It is not all about the CO2” – argued that carbon dioxide is by far the most important driver of climate change, but methane matters too.
The final sentence of the editorial reads, ominously:
“Methane should be given priority on the COP26 climate summit this November”.
NZ may fight its corner vigorously at the Glasgow summit, but the risk is that delegates there will seize on the thesis advanced by The Economist that methane is a more powerful greenhouse gas than carbon dioxide, and decide to target it harshly.
“Reduce methane emissions and you soon reduce methane levels; reduce methane levels and you reduce global warming”, says The Economist.
With NZ’s greenhouse gas emissions comprising about 49% methane, this country could be savaged by climate change warriors, while other countries could follow the European Union in contemplating a tariff regime, or what it calls a carbon border adjustment mechanism (CBAM), in which the price of imports reflect their carbon content. Such a mechanism, if adopted broadly, could severely penalise NZ agriculture exports. Continue reading