The International REC Standard accepted as Scope 2 accounting mechanism
The International REC Standard (The I-REC Standard) is a voluntary standard which ensures proper issuance, redemption and consumer claimsin relation to the use of REC certificates outside the EU, US and Australia. The standard provides a simplified method for the issuance of internationally recognized REC certificates where no reliable or internationally accepted system currently exists.
The I-REC Standard was launched in 2014 to address the need for reliable Scope 2 accounting systems in non-Annex 1 countries. The increased focus on renewables consumption in these regions led to stakeholder- initiated requests for a reliable standard that ensures proper issuance of international REC certificates as well as the reliable retirement of the certificates that clearly define the owners of the attributes. The I-REC Standard prioritizes clear delivery of consumption attributes to end-consumers and avoids double counting, double attributing and other forms of attribute double claiming. The creation of a residual mix calculation for countries that issue I-REC Standardized certificates ensures that third-party consumption of individual renewable attribute ownership is minimized.
The I-REC Standard is accepted by GHGP and CDP as a reliable accounting mechanism for voluntary corporate disclosure of renewable attribute consumption.
At RECS International we have been in contact with the International REC Standard and support these developments here. However, we reiterate that in Europe the EECS system - supported by the Association of Issuing Bodies - must remain the priority vehicle for European national governments.
For more information about the International REC Standard go to the website or click on the logo below:
- Annual Report 2016
- Agenda seminar on development of REC/GO markets in the UK and internationally, London 25 September 2017
- Agenda seminar Renewables Good Practice (ReGP) in London, 26 September 2017
- Does the EU renewables sector need a guarantees of origin market?
- Development of the Guarantees of Origin Market 2016 Key Facts Report
- RECS International Annual Report 2017
- Interview: GO important factor in subsidy free tender Nuon
- RECS International releases the Renewables Good Practice
- RECS International Annual Report 2016
- RECS Magazine - The rise of the corporate consumer
- RECS International Annual Report 2015