Project Canary, a natural gas certification firm, and The Center for Energy Water Sustainability (CEWS) at Colorado State University have established the oil and gas industry’s first standardized freshwater reporting framework and metrics. Freshwater acquisition and management are a critical part of the well completion process, and this framework enables and encourages producer efforts towards freshwater stewardship, an important component of a responsibly sourced gas (RSG) certification program.
Water use plays a central role in oil and gas production, developing freshwater acquisition and use standards creates an accurate assessment of their use in oil and natural gas operations.
- Producers can now differentiate their performance relative to water use and responsible stewardship as those who minimize or eliminate freshwater usage.
- Companies reusing or recycling water in their operations will be considered more responsive to ESG objectives.
- Accurate and independent ESG certification for the oil and gas water space can be transformative.
The new reporting framework centers around responsible freshwater use and mitigation efforts and allows producers to differentiate their performance relative to water use. Companies reusing or recycling water in their operations will be considered more responsive to ESG objectives, thereby encouraging sustainable water practices.
As drought conditions worsen and water becomes an increasingly valuable commodity, particularly in areas of heightened water stress, operators must strive to reduce their impacts on groundwater and freshwater resources. The new program accounts for regions facing increased water stress through a localized methodology that provides for competitive water use, population, and drought severity.
The Freshwater Friendly Verified Attribute joins the Low Methane Verified Attribute to supplement the broader TrustWell by Project Canary Certification.
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