Our Work
Laying the Foundation
Water + Energy Forward is a 501(c)(3) nonprofit organization working to advance environmental sustainability through grants, collaborations, and financial solutions that will support small and medium-sized manufacturers to improve their energy efficiency, water stewardship, and climate resilience. To achieve this mission, Water + Energy Forward aims to play a leading role in reducing methane emissions and improving water quality.
W+E Forward is the outgrowth of a National Science Foundation (NSF) Regional Innovation Engine grant that was awarded to The Water Council and its 50+ partners in 2023. The grant centered on addressing water, energy, and waste technology innovation with a particular focus on helping small and medium- sized manufacturers reduce water and energy material risks and convert waste to value.
Even when the technology does exist to help these supply chain manufacturers become more sustainable, the businesses can’t afford it. The Water Council approached Marquette University’s College of Business Administration’s S-Lab to explore nontraditional ways to finance the transition to resilient, climate-friendly manufacturing.
The outcome was the concept of creating a “green and blue bank” but with a twist that it would not utilize any public funding and would instead place its emphasis on a novel free-market system that is based on plugging neglected and orphaned oil and gas wells.
While the NSF grant did not advance, the commitment to creating this unique bank continued and now exists in the current mission of Water + Energy Forward.
Who We Are
We are a coalition of a university, nonprofit, and private sector leaders collaborating on free-market, economically feasible solutions to water and energy challenges.
Together, we are:
Objective 1
Reducing Methane Emissions
Playing a leading role in reducing methane emissions and improving water quality through permanently plugging orphaned and neglected wells.
Objective 2
Innovative Financing
Implementing an innovative financing program that makes it possible for small and medium-sized manufacturers and wastewater utilities to adopt new water and energy technologies.
Objective 3
Use-Inspired Research & Development
Advancing research, development and piloting of technology that addresses pressing water and energy problems.
What is the Sustainable Finance Approach?
With more than 3 million neglected or orphaned oil and gas wells in the United States, the methane that is leaked (and continues to leak until plugged) pollutes our air and releases toxins into our groundwater. It is estimated 14 million people in the United States live within one mile of an neglected or orphaned oil or gas well.
You can’t see or smell this “super pollutant,” but in the short term it is roughly 80 times more potent than carbon dioxide in trapping heat in our atmosphere and speeding up climate change.
The technology used to successfully plug and monitor these wells is established. While there is a scientific methodology, the process is relatively straight-forward: you basically just need to remove the rusting rig and pour cement to permanently seal the well. It is estimated roughly 300,000 wells are readily available for plugging.
Recognizing that each well behaves differently, methane emissions from legacy oil and gas wells can vary widely. While many wells emit little methane, high-emitting wells can release substantial volumes over time. Emissions modeling and measurement indicate that, on average, leaking wells can emit 30,000 metric tons of CO₂-equivalent over a 20-year period if left unplugged.
A Free-Market Solution
Many of the companies that operated these wells were small enterprises that went out of business and declared bankruptcy decades ago. Federal, state and local governments may have an interest or desire but certainly lack the financial resources to address the problem, with budgets stretched to the breaking point.
Utilizing capital market principles and discipline, Water + Energy Forward turned to the idea of free-market carbon credits. Measure a well’s methane leaks, plug it, and generate carbon credits that companies can purchase to offset their emissions. A distinct advantage of Water + Energy Forward’s approach is the utilization of real-time sensors at every well for easy identification, measurement, verification, and ongoing monitoring to ensure credit buyer confidence.
As the world seeks to address CO₂ emissions across the planet, the benefit of plugging these wells is the speed (full credits within a year), permanence, and comparative affordability compared to other credit types. Utilizing a connected network of sensors, Water + Energy Forward’s unique advantage is its ability to achieve real-time verified monitoring of wells and the confidence that the methane emissions have ended.
Co-Benefits of Water + Energy Forward’s Approach
Permanently stopping leaking methane from the oil and gas wells has several co-benefits besides stopping the release of super-pollutants into the atmosphere. Besides creating jobs for crews plugging the wells, reclaiming the land for agriculture or the creation of businesses on land that otherwise would be undeveloped, plugging helps to mitigate local health and safety risks due to air quality and groundwater contamination.
The added co-benefit of the Water + Energy Forward approach is the utilization of carbon credit revenue to help small and medium-sized manufacturers. As part of the global supply chain, these manufacturers represent 98% of our nation’s economy and are under increasing pressure from their downstream customers to implement new energy and water sustainability technologies to improve their operations.
How to Buy Water + Energy Forward’s Credits
Companies seeking to strengthen their corporate social responsibility efforts can benefit from connecting with CEO Dan Romito to learn how the Water + Energy Forward approach delivers high‑integrity carbon credits. In addition to credible emissions reductions, this approach generates meaningful co‑benefits — from improving the health of watersheds surrounding plugged wells to supporting small and medium‑sized manufacturers, vital partners in the global supply chain.