Onyx Transition

Onyx Transition is an innovative climate investment platform designed to respond to the climate crisis at the speed, scale and impact required. Our model addresses two of the most urgent climate challenges: dependence on fossil fuels and the accumulation of greenhouse gases in the atmosphere. Onyx designed an incentive – the Elimination Credit – to accelerate the early retirement of emissions-intensive oil fields today and drive the resulting proceeds into carbon-removal projects and technologies. Onyx converts oil value into carbon value. By shutting in profitable, actively-producing oil fields at least 10-15 years before their planned end-of-life, Onyx produces high-quality carbon credits that accelerate the transition while creating a significant new pool of capital for investment in climate restoration. Our team brings decades of experience in global climate policy, carbon markets and climate investment to the venture, and is supported by an ecosystem of leading academics, researchers, market experts, and NGOs. Onyx Transition is supported by Ontario Teachers’ Pension Plan.