Great Falls, Montana-based Pacific Steel & Recycling has received the first Climate Benefit Unit (CBU) certificate issued by the Bozeman, Montana-based Well Done Foundation (WDF). WDF chairman and founder Curtis Shuck announced the issuance of the CBU in the second week of November.
The certificate was presented to Pacific Steel at its corporate offices in Great Falls. WDF says it represents the removal of 21 metric tons of carbon dioxide (CO2), which is part of the “Pound for Pound” program the scrap recycling firm and the foundation announced earlier this year.
“Pacific Steel & Recycling has been a fantastic partner for us in reclaiming and recycling scrap metal left behind at orphaned well sites,” says Shuck. “We are pleased to issue our first CBUs to a company who cares as much about conservation in Montana as we do.”
The Climate Benefit Unit is a registered trademark of the WDF, which describes itself as an NGO that represents the removal, capture, offsetting or elimination of methane gas (CH4) or other greenhouse gasses as the specific result of a certified Well Done Foundation Orphaned or Abandoned Well Plugging and Surface Restoration Project.
According to the WDF, a CBU is similar to a carbon credit, a tradable certificate representing the offset of one metric ton of CO2 or the equivalent amount of a different greenhouse gas.“Pacific Steel & Recycling purchased Well Done CBUs at the price of $7 each and is proud to support this made-in-Montana effort that delivers immediate benefit to the environment through the plugging of orphan oil and gas wells,” says Pat Kons, a vice president with Pacific Steel & Recycling. “We are very much aligned with the Well Done Foundation in our corporate commitment to making a difference and improving the environment for all Montanans.”