Kim welcomes U.S./Canada plan to endorse zero gas flaring initiative
WASHINGTON, March 11, 2016 – World Bank Group President Jim Yong Kim today welcomed Canadian Prime Minister Justin Trudeau to the World Bank Group’s headquarters during Trudeau’s first official visit to Washington, D.C.
At the meeting, Kim welcomed the March 10 announcement by President Obama and Prime Minister Trudeau that the United States and Canada will jointly endorse the World Bank’s initiative to end routine gas flaring by 2030, as part of the two nations’ commitment to combat climate change.
“The world needs to move as rapidly as possible to deliver on the historic Paris climate agreement, and we are delighted that the United States and Canada have committed to help end the routine flaring of gas at oil sites around the world,” Kim said.“If we were to convert all the wasted gas into electricity, it would be enough energy to power the entire continent of Africa.”
With the U.S. and Canada now on the list of endorsers, the initiative is supported by 18 governments of oil-producing countries, 20 oil companies, and 11 development institutions. See full list of endorsers here.
Kim and United Nations Secretary-General Ban Ki-moon jointly launched the “Zero Routine Flaring by 2030” initiative in April 2015. Endorsers of the initiative commit to ensuring that new oil fields will be developed without routine flaring. They also pledge to eliminate ongoing routine flaring as soon as possible, and no later than 2030. About 4 percent of global production of gas is released into the atmosphere at oil production sites every year.
Trudeau and Kim also discussed the Syrian refugee crisis and the opportunity to end extreme poverty by 2030 through concerted global action.
Trudeau also met with Canadians who work at the World Bank Group and International Monetary Fund. Trudeau is the first Canadian Prime Minister to visit the World Bank Group.