If We’re All For ESG, Why Aren’t We Doing It?
By Marvin Nash
A sign reads at a local ice cream shop, “For every cone we sell, we donate to help the environment.”
This simple sign is truly a sign of our times.
It started with the stockholders of Fortune 100 companies demanding corporations apply initiatives and actions for Environment, Social and Governance (ESG). However, the desire for ESG has now trickled down to local mom and pop retail stores, informing their customers that they are giving back.
ESG has become a key priority for all businesses because customers, investors, and stockholders are now demanding it.
The oil and gas industry has an amazing opportunity to make good on their ESG statements by letting agriculture be the new midstream partner.
Midstream companies move the oil and by-product water from the well. The oil goes to the refinery. The water goes to disposal.
On average, there are three to six times the amount of water to oil. In the U.S. annually, over 882 billion gallons of this water is tossed away down an injection well or left to evaporate.
Instead, we must stop throwing this water away, clean it up and put it to beneficial use to grow vegetation for ranching and other non-consumable agriculture. This has already been done by our company – it’s no longer theory.
The economics, liability, safety and permitting have all been solved. The only thing left is for the midstream industry to shake hands with their new partner – agriculture.
The arid west can take as much cleaned by-product water as they can offer. This is not only critical during a season of drought, such as now, but also day-in and day-out.
Our arid soils simply need more water than we have. Let’s use this by-product water, which is being piped and trucked to disposal, to improve our soil by cleaning it up and applying it to land.
Not only does this help agriculture, but it also helps all of us. Better soil health creates greater photosynthesis, which swaps carbon for oxygen in our air.
We understand the wheels of major corporations can turn slowly. Yet, we must stop throwing away our precious water resource. I’d love to hear your comments – I can be reached by e-mail at firstname.lastname@example.org.
We’re all for ESG – now let’s actually accomplish it.
Marvin Nash is the co-founder of Encore Green Environmental.