Nigeria is set to benefit from a $100 million investment aimed at reducing methane emissions, as part of a global effort to combat climate change. The investment, announced by former New York City Mayor Michael Bloomberg, will support the collection of methane monitoring data from a network of satellites and policy efforts in nine countries, including Nigeria, Australia, Indonesia, and Mexico.

The initiative comes as world leaders gather in Brazil for the COP30 conference, a United Nations summit on climate change. The conference marks three decades since global climate negotiations began, and despite some progress in curbing emissions, scientists warn that more needs to be done to prevent extreme global warming. A key measure, a COP26 deal to reduce global methane emissions by at least 30% from 2020 levels by 2030, is currently off track.

Methane emissions have risen since the 2021 pledge was made, and scientists are urging countries to take immediate action to halt emissions of the potent greenhouse gas. The $100 million investment is seen as a significant step towards addressing this issue, with the support of countries like France, whose President Emmanuel Macron has expressed his commitment to the initiative.

The COP30 conference will see 53 heads of state and over 40 subnational leaders deliver speeches, including U.N. Secretary-General Antonio Guterres. However, the leaders of four of the world’s five most-polluting economies, including China, the United States, India, and Russia, will not be attending. The absence of the U.S. may allow for more open discussions among the attending countries, according to some observers.

Brazil’s President Luiz Inacio Lula da Silva is expected to play a key role in the conference, having engaged with leaders from various regions on the topic of climate change. His meetings with UK Prime Minister Keir Starmer and French President Emmanuel Macron are seen as crucial in advancing multilateral cooperation on the issue.

The conference is taking place at a critical time, with the world facing growing concerns about the impact of climate change. The $100 million investment in methane reduction is a significant step towards addressing this issue, and Nigeria’s inclusion in the initiative highlights the global nature of the problem and the need for collective action. As the conference progresses, it remains to be seen what concrete steps will be taken to address the pressing issue of climate change.