International Renewable Energy Certificates (I-RECs) are on the rise. Since its inception in 2015, the system for documenting renewable electricity outside of Europe and North America has experienced accelerated growth. This paper shows how new EU policy instruments –the Carbon Border Adjustment Mechanism (CBAM) and the Corporate Sustainability reporting Directive (CSRD) – have the potential to further stimulate demand for I-RECs and raise tens of billions of Euros for renewables within the current decade.
In this report, we:
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