Need for low or no carbon-power under Paris Climate agreement.
Under Paris Climate agreement there are 3 categories of emissions per company;
Green power can be purchased directly but lack of labelling can make power use grey instead of green. Sources like coal gas and other fossil fuels can be part of energy used for production.
iREC is an international available green power certificate that, when purchased, can be used to offset grey power and turns it into green power also lowering the scope 2 emissions.
I expect this market to grow substantially over the next decade.
iREC offers buyer access to green power and seller in some cases sovereign states can generate extra income by selling a surplus of green energy into global corporate markets.
REC are renewable energy certificates that give the buyer the proof that indirectly they have bought green power by using the certificates as proof of the greening.
In the USA this REC market is domestically one of the largest power contracts that is listed at Nodal Exchange Virginia.
Internationally we see a growing trend to trade in iREC’s that can be used in every member country that has accepted the iREC standard.
By using iREC you can green your company with for example hydro power from Kirgizia and wind from Ukraine or solar from Sahara solar installation.