FOR IMMEDIATE RELEASE
Great Falls, MT – Nov. 9, 2020 – Well Done Foundation (WDF) today announced the issuance of its very first Climate Benefit Unit (CBU) Certificate to Pacific Steel & Recycling, according to WDF chairman and founder Curtis Shuck.
The Certificate was presented to Pacific Steel & Recycling at its corporate offices in Great Falls, MT, and represents the removal of 21 metric tonnes of carbon dioxide, which is part of the “Pound for Pound” program that the two organizations jointly announced earlier this year.
“Pacific Steel & Recycling has been a fantastic partner for us in reclaiming and recycling scrap metal left behind at orphaned well sites,” Shuck said. “We pleased to issue our first CBUs to a company who cares as much about conservation in Montana as we do.”
The Climate Benefit Unit is a registered trademark of the Well Done Foundation Inc., a Montana-based NGO, and represents the removal, capture, offsetting or elimination of methane gas (CH4), or other harmful greenhouse gasses, equal to one (1) metric tonne of carbon dioxide (CO2) generated as the specific result of a certified Well Done Foundation Orphaned or Abandoned Well Plugging and Surface Restoration Project.
A Well Done Climate Benefit Unit is similar to a “carbon credit,” which is the generic term for any tradable certificate representing the offset of one (1) metric tonne of carbon dioxide or the equivalent amount of a different greenhouse gas.
“Pacific Steel & Recycling purchased Well Done CBUs at the price of $7.00 each and is proud to support this made in Montana effort that delivers immediate benefit to the environment through the plugging of orphan oil and gas wells,” said Pacific Steel & Recycling vice president Pat Kons, “We are very much aligned with the Well Done Foundation in our corporate commitment to making a difference and improving the environment for all Montanans.”
The Well Done Foundation is also working on several other commercial arrangements to sell its Climate Benefit Units and expects to share those announcements soon. Climate Benefit Units, issued as numbered certificates, will soon be available for purchase through the Well Done Foundation website.
About the Well Done Foundation
Formed in 2019, the Well Done Foundation enables the oil and gas industry to partner with the conservation community to create an alternative pathway to success that benefits all. The Well Done Process, which does not include any public funding, creates a strategic partnership among regulators, surface owners and adoptive parties, leading to a safe and seamless system that provides cost-effective and lasting results that improve the environment while working with the industry in a transparent structure that delivers value to its Triple Bottom Line: community partnerships (people), environmental responsibility (planet), and economic benefits (profit). Montana’s Golden Triangle Region is home to some of the richest soil and most productive growing acres in the United States. The Well Done Foundation works with its partners to transition the orphaned well sites into their next levels of service. For more information, visit https://welldonefoundation.com/.