Country:United States
Year:2002
Policy status:In Force
Jurisdiction:International
Date Effective:2002
Policy Type:Voluntary Approaches>Negotiated Agreements (Public-private sector), Policy Support, Regulatory Instruments, Regulatory Instruments>Codes and standards, Voluntary Approaches
Policy Target:Energy Sector, Energy Sector, Energy Sector>Electricity Generation, Energy Sector>Electricity Generation>Fossil fuels (Coal, gas, oil), Energy Sector>Distribution/Storage
URL:http://www.worldbank.org/ggfr
Description:The Global Gas Flaring Reduction public-private partnership (GGFR) brings together governments of oil-producing countries, state-owned companies, and major international oil companies in an effort to overcome the barriers to reducing gas flaring by sharing global best practices and implementing country specific programs. The partnership supports national efforts to reduce flared gas by promoting effective regulatory frameworks and tackling the constraints on gas utilization, such as insufficient infrastructure and poor access to local and international energy markets in developing countries. GGFR partners agree to endorse a voluntary standard to eliminate venting and reduce flaring significantly within 5-10 years by finding commercial uses for the associated gas through increased collaboration between countries, in addition to avoiding flaring in new oil developments if economically feasible. World Bank Initiative founded at the 2002 World Summit on Sustainable Development in Johannesburg. 15 countries and 9 major oil companies participate. The GGFR currently has access to over 70% of the sources of global flaring and remains open to new partners.

Last modified: Wed, 29 Aug 2012 14:24:47 CEST