Overview

The 'Zero Routine Flaring by 2030' initiative, introduced by the World Bank, aims to eliminate routine gas flaring during oil production by 2030. Gas flaring burns approximately 140 billion cubic meters of natural gas annually, emitting over 300 million tons of CO2, contributing to climate change and wasting a valuable energy resource. The initiative calls on governments, oil companies, and development institutions to cooperate. Governments are to create a conducive environment for investment and require new field development plans to include sustainable gas utilization or conservation. Oil companies must develop new fields without routine flaring and end legacy flaring by 2030. Development institutions will facilitate cooperation and use financial instruments. Endorsing parties must publicly report flaring data annually.

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