DENVER, DALLAS and HOUSTON, September 21, 2020 – IES announced today that it has further enhanced the transparency and environmental data available through its flagship TrustWell™ certification via the articulation of 32 of its required data elements. The TrustWell certification process for oil and gas assets includes the independent collection and validation of hundreds of different empirical engineering and related aspects of an operation to generate an overall responsibility score. The detailed mechanics of the process have been made public for transparency and now 32 of the most important data elements have also been made public for even greater openness.
“Trust is critical to our role as the leading provider of certified environmental data in the energy industry,” said Jory Caulkins, IES’ Executive Chairman. “Transparency, along with independence and rigor, is one of the most important ways we earn that trust and keep it.”
In addition to providing further transparency to TrustWell, the market leading certification for Responsibly Source Gas, this also provides additional high-quality, certified environmental data for other markets (investors, communities, regulators). TrustWell Responsibly Sourced Gas purchasers now know that the gas they are purchasing has not only scored highly enough overall to be certified, but that it has also met and been independently vetted against each of the 32 specific environmental data points.
“We are seeing a groundswell of recognition that ‘showing’ is no longer good enough and ‘proving’ is what the market is demanding,” said Chris Romer, IES’ CEO. “There is too much fluff, estimates and high level, unreliable ‘ESG data’ out there, and people are starting to realize that not all ESG data is created equal. We are building a platform for those who want to be leaders… with real, interdepedently vetted, empirical, affordable and actionable environmental data. Anything else just isn’t going to cut it.”
Companies that have previously gone through the TrustWell process have already achieved each of these required data elements and all future companies will be required to meet these as well, in addition to achieving the minimum overall scoring thresholds for certification.
In conjunction with this announcement, IES announced that Flywheel Energy in Oklahoma City has achieved TrustWell certification. Flywheel achieved a Gold rating for their Fayetteville Shale gas production operations.
“Flywheel is committed to leadership in responsible energy production,” said Justin Cope, Flywheel’s CEO. “Working with IES and achieving the TrustWell Gold certification across our footprint is only the beginning of our ongoing efforts to be best-in-class for our gas buyers, equity and debt capital partners, and other important stakeholders.”
About International Environmental Standards PBC (“IES”)
IES is a public benefit corporation accountable to a double bottom line of profit and the social good. The company is the market leading provider of certified environmental data for differentiating oil and gas production and operations. IES combines deep technical expertise with independently verified, empirical, affordable and actionable data that markets can act on to economically reward responsible actors. The company helps its partners collect, manage, operationalize and benefit from environmental performance data. IES is the creator and leader of the TrustWell™ Responsible Sourced Gas market.