New Federal Guidance Will Propel Voluntary Carbon Market Credibility
MAKE A LOCAL IMPACT
ClimateWells creates energy transition credits when oil and gas operators shut down their old oilfields earlier. This cuts emissions, creates jobs, improves local air quality, and restores communities.
ClimateWells targets marginal oil and gas wells because they make up less than five percent of production but over 50% of all oilfield methane emissions.
By shutting down low-production wells earlier, we permanently eliminate the emissions associated with oil and gas production without threatening our energy supply. This allows us to create carbon credits that provide genuine climate and immediate local community benefits.
Decommissioning marginal wells would eliminate more than 1.5 billion tons of CO2 emissions each year. That’s the same impact as electrifying every car in the U.S., putting solar on every American home, and doubling U.S. wind energy production, combined.
Marginal oil and gas wells make up less than six percent of production but over 50% of all oilfield methane emissions.
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Every ClimateWells project is independently verified and registered to ensure a real and tangible impact.
To calculate our projects’ emission reductions, we use the Oil Climate Index (OCI+), an oil and gas emissions quantification tool developed by the Rocky Mountain Institute (RMI), an independent, nonpartisan, nonprofit.
For more details, you can read about the methodology on the International Carbon Registry and Open Carbon Protocol.
