Eni joins World Bank's GMFR Fund to reduce methane emissions and flaring

The fund is aimed to provide technical assistance, enable policy and regulatory reforms, strengthen institutions, and mobilise financing to support the action of governments and operators

Eni announces its membership as a donor to the Global Flaring and Methane Reduction trust fund (GFMR), an initiative launched by the World Bank to support governments and operators in developing countries to eliminate routine flaring and reduce methane emissions from the O&G sector to near zero by 2030.

The fund is aimed to provide technical assistance, enable policy and regulatory reforms, strengthen institutions, and mobilise financing to support the action of governments and operators.

Claudio Descalzi, CEO, Eni, said: “This is a very important initiative, which we have supported from the earlier stages. We recognise the priority to move quickly on the abatement of methane emission and flaring, and we are working to expand our support and go beyond the financial contribution, by providing our expertise and experience in methane emission abatement to create operational synergies with the initiatives that will be launched. In countries like Algeria and Egypt, for example, we are supporting excellent projects in this regard”.