"Zero Routine Flaring by 2030” initiative organized by World Bank kicks off in Washington

Washington, April 21, AZERTAC On April 17, 2015, an event titled “Zero Routine Flaring by 2030” and organized by the World Bank was held in Washington, DC. The event took place within the framework of the annual “Spring Meetings”, when the World Bank and the International Monetary Fund (IMF) gather thousands of government officials, journalists, civil society organizations, members of academia and private sectors to discuss issues of global importance. United Nations Secretary-General Ban Ki-Moon and World Bank Group President Jim Yong Kim, as well as top executives of Total, Shell Oil, Eni, Statoil and other global companies, and high-ranking officials of several states participated in the discussions. Vice President for Ecology at SOCAR Rafiga Huseynzade took part at the conference. The opening remarks were delivered by the UN Secretary-General Ban Ki-Moon and the President of the World Bank Group Jim Yong Kim who noted the importance of this initiative, its positive effect on global climate change, and gave information about the steps taken by the states and companies which had joined the initiative. Jim Yong Kim said that approximately 140 billion cubic meters of global associated gas is flared annually, releasing more than 300 million tons of carbon dioxide (CO2) into the atmosphere, equivalent to the amount of gas that could be used to provide electricity to the entire continent of Africa. Collectively, the nine countries and 10 companies to pledge to the initiative produce more than 40% of the gas flared globally. In her remarks at the conference, SOCAR’s Vice President for Ecology Rafiga Huseyzade stated that SOCAR is the fifth company among other global companies which joined the initiative. Underlining the importance of the project, Huseynzade told the audience about the measures and steps Azerbaijan has been taking towards decreasing the effects of gases on climate change and ecology.