ICR
Under development
ID: 86
Nature Entrusted Land Minerals Projects
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Impacts
Project Information
Project Status
Under development
Project Owner
Project Type
Avoidance / Reduction
Sector
Mining/mineral production
Methodology
ISO 14064-2
Project Description
PHH Project LLC will permanently retire un-drilled acreage in Howard County, Texas within the Permian Basin through a perpetual trust. One section of Howard County, totaling approximately 640 acres is estimated to hold 215 million barrels of oil in five of the fifteen drilling zones. The perpetual trust will prevent this oil from being extracted. The five geological formations or drilling zones of the 640 acres are proven oil reserves; rather than being developed, these minerals will be put into a trust controlled exclusively by a leading, independent institutional trustee that will ensure that no development or use of the minerals is permitted in perpetuity.
Validation Body
Validation Criteria
ISO 14064-2:2019
ICR requirements v4.0
Verification Criteria
ISO 14064-2:2019
ICR requirements v4.0
Project design description
Media
Sustainable Developement Goals
Additionality
ISO 14064-2 GHG emissions additionality. GHG emission mitigations are additional to the baseline scenario.
Statutory additionality. The project implements actions that go beyond statutory requirements.
Technology, institutional, common practice additionality. The project implements climate actions that are subject to barriers to implementation or accelerates deployment of technology or activities.
Financial additionality. Carbon credit revenues are the major or only source of revenues
Participants
An overview of all the people and organizations associated to this project. Participants, validators, verification bodies and other.
Documents
An overview of all documents connected to this project
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