Methane Emissions from Abandoned Gas Wells Among the numerous sources of greenhouse gas (GHGs) emissions, abandoned (orphan) gas wells contribute significantly to climate change through the release of methane (CH4). The leakage is primarily attributed to improper plugging or faulty seals. According to estimates, there are approx. 29 million abandoned gas wells worldwide, with approx. 3 million in the United States alone. Abandoned wells have numerous detrimental effects on the environment and human health. They contaminate land, air, and water, posing risks to ecosystems, wildlife, livestock, and humans. In addition to contaminating groundwater and releasing methane, abandoned wells can emit toxic emissions and pollutants, further exacerbating climate change. Methane, a potent GHG, has a warming effect that is 80 times greater than carbon dioxide (CO2) over a 20-year period. Moreover, methane contributes to the formation of ozone, another harmful GHG that contributes to smog, damages crops, and negatively impacts humans & animals. Tanager-1: Revolutionizing GHGs Detection and Mitigation Tanager-1, whose launch in 2024 is facilitated by the “Carbon Mapper Coalition”, is a groundbreaking satellite designed to detect CH4 and CO2 plumes in the energy, oil & gas, waste, and agriculture sectors. This satellite marks a significant milestone in the field of GHGs monitoring and mitigation. With its advanced capabilities, Tanager-1 is poised to become the first of its kind in a large-scale detection and mitigation program. One of the key features of Tanager-1 is its ability to provide detailed emissions tracking. By monitoring and analyzing these emissions, it enables targeted efforts to reduce GHGs. This precise tracking allows for the identification of specific sources and areas of emissions, facilitating the implementation of targeted interventions and strategies. To support these efforts, there are now insurance solutions specifically tailored to address liabilities associated with GHG emissions. These solutions, which are primarily available in the United States, offer coverage for remediation and tort liability, as well as defense costs and potential civil fines and penalties. By providing financial protection for businesses, these insurance solutions encourage responsible practices and reduce the risk of environmental liabilities. The integration of insurance solutions with satellite-based detection systems creates a powerful synergy for better risk management. The combination of early detection capabilities and advanced insurance options enables stakeholders to effectively manage environmental risks. This proactive approach can help mitigate potential negative impacts on business operations, reputation, and regulatory compliance. #pmfby #riskmanagement #cropinsurance #insurance #agriculture #sustainability #stg #aon #climaterisk #parametricinsurance #globalwarming #weather #pmo #biodiversity #ndma #ghg #climatechange #methane #carbon
Interesting aspect.
Informative, thanks Mr. Rao
Very relevant. Would like to learn about the products available. Can plan for AQI on similar lines.
Mahadeb Das
2w
Thank you for sharing. Accidents and resultant pollution are supposed to be covered by insurance policy.Complete wording may throw more lights.
Thanks a lot for sharing Sir. Highly informative and interesting.🙏
Great informative articke
CFO, Reliance General Insurance
2wThe launch of Tanager-1 by the Carbon Mapper Coalition signifies a transformative step in precise GHG detection and mitigation.