Financing Solutions to Reduce Natural Gas Flaring and Methane Emissions

https://www.worldbank.org/en/programs/gasflaringreduction/publication/financing-solutions-to-reduce-natural-gas-flaring-and-methane-emissions Report Highlights Gas flaring, the burning of natural gas associated with oil extraction, results from market and economic constraints and a lack of appropriate regulation and political will. One major barrier is attracting the necessary investment to tackle the roughly 2,000 medium-sized flares cost-effectively. Annually, gas flaring results in more than 400 million tons of CO2-equivalent emissions and other pollutants, including methane. Medium-sized flares, which account for 60 percent of the emissions, are too small for traditional large-scale approaches to flare reduction but large enough to require significant financial investments. Together with governments and oil companies, we must accelerate action to end routine gas flaring and reduce methane emissions worldwide while investing in infrastructure to capture, store, and conserve or use natural gas.