M-ICR0002
Public consultation on the first version from 14. April 2023 - 12. May 2023
Last updated
Public consultation on the first version from 14. April 2023 - 12. May 2023
Last updated
Fugitive emissions from fuel (solid, oil and gas)
Validated
On hold - Waiting for completion of first project
The methodology is used for the quantification and justification of reduced greenhouse gas (GHG) emissions as a result of placing oil reserve mineral rights into a perpetual trust to prevent the oil controlled and owned under the mineral rights from their inevitable extraction, production, and downstream use. The perpetual trust, as the project activity is a measure that alters the conditions identified in the baseline scenario and results in GHG emission mitigation as it creates a legal framework preventing oil and gas development within the project boundary. The reduced GHG emissions that would result are from the extraction, production, processing, and downstream use. While the GHG gas emissions that result from the extraction, production, and processing phases, greenhouse gas emissions can vary due to equipment and operator specifics, the downstream use of the extracted oil has less variability. Along the same lines, projects that fit the criteria for using this methodology provide additional environmental benefits such as avoided water used for hydraulic fracturing, prevented wildlife impacts from oil and gas development, and maintaining existing vegetation and carbon sinks and reservoirs. The prevention of oil and gas development as is evaluated as part of this methodology also provides land to conduct other carbon reduction projects (e.g., renewable energy development, carbon sequestration through afforestation/forestation, etc.) possibly creating new or improving existing carbon sinks and reservoirs.
