Wildwood Sequestered Carbon-Intensive Oil - CCA2 Project
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Impacts
Project Information
The WSCIO-CCA2 Project is an Indigenous-aligned voluntary GHG mitigation project that quantifies emission reductions from the permanent in situ sequestration of fully permitted SAGD bitumen volumes in the Alberta oil sands. Rather than extracting planned production, the Project keeps the resource sequestered in its original deep geologic formation, ensuring the life-cycle emissions associated with the Baseline Scenario never occur. Permanence is inherent to the formation and reinforced through 100+ year stewardship of the Project lands, under a non-extraction commitment made by the seven Participating Nations and the Project Proponent. The Project transitions the economic value of planned production into verified carbon assets, allocating 50% of project revenue to Indigenous economic participation and energy transition investments, accelerating the shift of capital from extraction to sustainable energy. The Baseline Scenario was prepared by GLJ Ltd., a premier independent Canadian petroleum engineering firm. The Project Scenario is developed in alliance with NorthernNations Cooperative and the seven Participating Nations local to the Project area, which spans 12,019 acres, under an executed Indigenous Stewardship Framework. Indigenous participation, co-benefits, conservative leakage quantification, and financial assurances are embedded directly into the project design. The Project is intended to operate alongside Alberta's conventional development, establishing a new standard for integrity and community-led governance in the voluntary carbon market. Each carbon credit represents over two barrels of high carbon intensity oil permanently sequestered.
Media
Sustainable Developement Goals
Good Health and Well-being
Ensure healthy lives and promote well-being for all at all ages
Clean Water and Sanitation
Ensure availability and sustainable management of water and sanitation for all
Affordable and Clean Energy
Ensure access to affordable, reliable, sustainable and modern energy for all
Climate Action
Take urgent action to combat climate change and its impacts
Life on Land
Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
Additionality
Level 1 additionality
Baseline additionality. Compared to the baseline scenario the project needs to mitigate climate change. That is the project must implement actions that are additional to what would occur compared to the baseline.
Level 2a additionality
Statutory additionality. The project must implement actions that are beyond requirements stipulated in local legislation or regulations. Projects are statutory additional if their implementation and/or operation is not required by any law, statute, or other regulatory framework, agreements, settlements, or other legally binding mandates requiring implementation and operation or requiring implementation of similar measures that would result in the same mitigations in the host country.
Level 2b additionality
Non-enforcement additionality. Projects are non-enforcement additional if their implementation and/or operation is mandated by local legislation or regulation but are systematically not enforced by authorities in the host country.
Level 3 additionality
Technology, institutional, common practice additionality. The project must implement actions that are subject to barriers of implementation or accelerate deployment of technology or activities and carbon market incentives are essential in overcoming these barriers.
Level 4a additionality
Financial additionality I. A project is financially additional if it results in higher costs or relatively lower profitability than would have otherwise occurred in the baseline scenario.
Level 4b additionality
Financial additionality II. The project is financially additional if it faces significant financial limitations that revenues from the sale of carbon credits mitigates or are revenues due to the sale of carbon credits are the only source of revenues. When carbon credit revenues are a precondition for the implementation of the project and/or carbon credit revenues are essential in maintaining the project operations and ongoing financial viability post-implementation, then they are considered to be financial additional II.
Level 5 additionality
Policy additionality. Implementation of actions may lie out of the scope of the host country's Nationally Determined Contributions under the Paris Agreement and, therefore, not eligible for international transfer mechanism. When project implementation goes beyond its host country’s climate objectives and lies outside of the scope of its climate action strategy towards its NDCs, it is considered to be policy additional.
Participants
Organizations involved in the project
Version | File size | Ingest | ||||
|---|---|---|---|---|---|---|
ICR Environmental and Socio-economic safeguards 2 documents | ||||||
Kml file 1 documents | ||||||
No issuance statement 1 documents | ||||||
Project description 2 documents | ||||||
Project design description and monitoring report 3 documents | ||||||
Project concept 1 documents | ||||||
Validation and verification report 1 documents |
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