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Join the Columbia Center on Sustainable Investment (CCSI) for a webinar on "Igniting Action to Reduce Gas Flaring: Real Opportunities, Real Projects, Real Results."
Gas flaring is a major global challenge. Despite bold commitments, global flaring levels have stagnated at around 140-150 BCM per year, emitting up to 1 billion tonnes of CO2-equivalent greenhouse gases annually. Numerous studies have outlined how flared gas can be captured and monetized, yet progress remains insufficient.
In their new report (link coming soon), CCSI and Capterio build on existing studies and go beyond, showing that substantial reductions in flaring are achievable. By reducing flaring, companies and governments can increase revenues, generate valuable assets, enhance energy security, reduce greenhouse gas emissions, and accelerate the energy transition. Compared with other levers, reducing gas flaring is a material decarbonization “quick win.”
The CCSI/Capterio report, Igniting Action to Reduce Gas Flaring: Real Opportunities, Real Projects, Real Results, illustrates the potential to reduce flaring with six case studies, going beyond analyzing the “what” and “why” of flaring, and focusing on the “how” to unlock and accelerate delivery. The report’s recommendations are more than the standard fare – they emphasize the need to form “national flare reduction task forces,” an in-depth focus on making flaring penalties effective and enforceable, and a creative “inside and outside the ring-fence” approach to fiscal structuring, for example. The report also provides a novel framework for analyzing the net climate benefits of flaring reduction, including a key focus on avoiding “methane slip” in flaring operations.
CCSI is hosting a webinar to launch the report, featuring comments and discussion from several experts in gas flaring.
Authors:
- Andrew Bernstein, Senior Fellow, CCSI
- Mark Davis, CEO, Capterio
- Tom Mitro, Senior Fellow, CCSI
- Perrine Toledano, Director of Research and Policy, CCSI
Discussants:
- Tomás de Oliveira Bredariol, Analyst, IEA
- TJ Conway, Principal, RMI
- Robert van der Geest, Senior Gas Specialist, The World Bank
- Julien Perez, Managing Director, Oil & Gas Climate Initiative
- Andrew Howell, Head of Sustainable Finance, EDF