Well Done Foundation First to Offer Insured High-integrity Carbon Credits with Reinsurance Support from AXA

BOZEMAN, Mont., Jan. 8, 2025 /PRNewswire/ -- The Well Done Foundation (WDF), a national nonprofit since 2019 whose mission is to plug orphaned oil and gas wells across the United States, in collaboration with AgriCap Group, LLC, announces the availability of insured high-integrity carbon credits created by methane sequestration for purchase. This innovative offering is the first in the industry to ensure the authenticity and reliability of carbon credits, providing peace of mind to buyers and investors in the voluntary carbon market through the launch of the "Insured Carbon" program. WDF, through its capping of orphaned and/or abandoned oil and gas wells, produces high-integrity carbon credits that undergo rigorous validation and verification audits by competent third-party auditors and carbon registry certification, ensuring integrity and permanence, from creation through retirement, up to 20 years.

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"We are proud to be the first orphaned well nonprofit and offer these innovative insured, high-integrity carbon credits backed by reinsurance support from AgriCap Group that deliver a truly market-based orphan well solution," said Curtis Shuck, Founder and Chairman of WDF. "This groundbreaking initiative not only ensures transparency and reliability for our carbon credit buyers but also reinforces our commitment to solving two critical challenges: addressing climate change and mitigating the environmental impact of orphaned wells. By partnering with AgriCap Group, we are setting a new standard for accountability and innovation in the carbon markets while advancing sustainable solutions for a better future."

"Insured Carbon" Program

The "Insured Carbon" program, designed by AgriCap Group, includes a custom structured parametric insurance program by AXA, protecting the capping of orphaned and/or abandoned oil and gas wells as well as the permanent plugging of wells damaged due to earthquakes. The "Insured Carbon" program ensures the realness, additionality, permanence, and exclusivity of the carbon credits and provides insurance against devaluation, degradation, deterioration, or invalidation for the life of verified carbon credits.

Additionally, WDF offers insured high-integrity carbon credits to interested parties, with full transparency of documentation tracked and recorded through a customized carbon credit IT administration system and blockchain integration.

Key Highlights of the "Insured Carbon" Program

• High Integrity Insured WDF Carbon Credits: Interested parties can now acquire WDF methane sequestered carbon credits that are not only of exceptional quality but also insured to meet the rigorous standards of authenticity, permanence, and exclusivity.

• Validation and Verification Process: WDF employs a robust validation and verification process that utilizes competent third-party audits to ensure the integrity of each carbon credit from creation to retirement.

• Comprehensive Insurance Coverage: The "Insured Carbon" program provides comprehensive coverage against devaluation, degradation, deterioration, or invalidation risks for the entire lifespan of the verified carbon credits. These credits are also reinsured, further enhancing their reliability.

• Blockchain Integration: Verified, exclusive WDF carbon credits are minted, which creates a financial asset that is placed on the blockchain, facilitating fast and efficient transfer of ownership and utilization by carbon credit owners.

SOURCE Well Done Foundation