COP31 raised US$ 480 million against methane. And the World Bank used Brazilian dairy as its example
At the methane summit organized by Brazil, China and the UK, Ajay Banga cited small Brazilian family dairy farms that raised productivity by 10% and cut emissions by 6% in a year.
To save you time4
- How much was announced?
- More than US$ 480 million in new philanthropic funding to cut methane and other non-CO₂ gases in energy, agriculture and waste.
- Where does Brazil come in?
- Brazil co-organized the summit with China and the UK, and the World Bank cited small Brazilian dairy farms that gained 10% in productivity and cut emissions 6% in a year.
- What comes next?
- Next week Brazil will launch a plan for short-lived pollutants, targeting a 29% cut in methane and 48% in black carbon.
- Why does it matter for agribusiness?
- Farming is a major methane source, and financing tied to productivity with lower emissions is likely to grow.
Read the full analysis +
If you follow ESG in agribusiness, the COP31 story isn't just the check. At the Leaders' Summit on Methane and Other Non-CO₂ Greenhouse Gases, organized by Brazil, China and the UK with the COP31 Presidency, more than US$ 480 million in new philanthropic funding was announced.
For comparison: the 2021 launch of the Global Methane Pledge mobilized US$ 300 million.
Brazilian dairy in the spotlight
What matters here came from World Bank Group President Ajay Banga. He cited small family dairy farms in Brazil that raised productivity by 10% and cut emissions by 6% in one year.
The message: cutting methane (the gas from cattle digestion) can go hand in hand with producing more. The World Bank backs methane programs in 45 countries, three times as many as at COP28, aiming to cut 11 million tonnes.
What Brazil is promising
Next week Brazil launches an air quality and climate plan for short-lived pollutants, targeting a 29% cut in methane and 48% in black carbon. New non-CO₂ measures were also added to Brazil's Climate Plan this year.
Not everyone stayed upbeat. Barbados Prime Minister Mia Mottley noted that no one can reasonably expect farmers to bear the costs of adaptation.
What I'd watch
Brazil's plan next week: whether the 29% target arrives with tools for livestock (credit, technical assistance, a tracking metric) or just a number. For cattle ranchers, the difference between a financing opportunity and a regulatory cost lies in that detail.
