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Understanding Poverty




BRIEF


Z ro Routin Fl rin b 2030
Initi tiv cit d in IEA r port

                                                                                       




The International Energy Agency’s (IEA) new analysis, The Oil and Gas Industry in Energy
Transitions, found that the commitments from the Bank’s Zero Routine Flaring Initiative
will be an integral component of the path to ending routine aring globally and the
Paris goal of limiting global warming to well below 2°C.

The report says:

“There are various initiatives under way to reduce aring. For example, various energy
companies, governments and institutions have endorsed the Zero Routine Flaring by 2030
initiative launched by the World Bank and the United Nations in 2015. For new elds,
operators should aim to develop plans to use or conserve all the eld’s associated gas
without routine aring. At existing oil elds, operators are asked to eliminate routine aring
when it is economically viable as soon as possible, and no later than 2030.

Since it is a wasteful practice, aring drops steadily over the period to 2040 in the STEPS.* In
the SDS**, as a result of strong policy interventions and industry e orts, the volume of gas
 ared drops much more dramatically over the next decade. Flaring is soon eliminated in all
but the most extreme cases, with less than 13 bcm ared from 2025 onwards, less than 10%
of the 2018 level.”

* STEPS (Stated Policies Scenario) provides an indication of where today’s policy
ambitions and plans would lead the energy sector.
Taken from IEA Report.




RELATED
WORLD BANK
Zero Routine Flaring by 2030

Global Gas Flaring Reduction Partnership (GGFR)




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