Zefiro Methane Corporation, a private methane offsets originator, has acquired a majority ownership stake in Plants & Goodwin (P&G), an oil well plugging company. The acquisition helps Zefiro reduce methane emissions by plugging orphaned and abandoned oil and gas wells in the US, which allows the company to produce methane emission offsets or carbon offset credits. Methane is the second most abundant greenhouse gas responsible for about 20% of global emissions and is at least 25x to over 80x more potent as CO2 at trapping heat in the atmosphere. The increasing methane pollution is largely because of human-related activities like abandoning oil and gas wells that greatly pollute the air that people breathe. As per government estimates, these abandoned, unplugged wells spew out methane that is equal to burning over 16 million barrels of oil. There are more than 4 million orphaned oil and gas wells in the US, spreading out across 26 states, making it one of the country’s most pressing concerns. Zefiro’s strategy is to integrate real (physical process) innovation with new forms of capital, through the ‘environmental’ credit markets, with the result of the new kind of enterprise. Acquiring P&G will position Zefiro as the leader in fixing the environmental and health problems left behind by the oil and gas companies that abandoned the wells, allowing them to emit methane for decades. The partnership will finally bring about a large-scale nationwide solution to methane emissions from abandoned wells.
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The groundbreaking net zero school in the UK reaches its highest point of construction.
Construction firm Morgan Sindall has held a "topping out" ceremony at the Buntingford First School in Hertfordshire, which is set...
