Now companies can buy documented green power in the Gulf
Published 16 February, 2017
For the first time, companies operating in the Gulf can purchase documented renewable energy. ECOHZ now offers green power documented by the International REC Standard. By buying I-RECs companies can reduce their greenhouse gas emissions and improve their sustainability rating.
“Corporations all over the world are increasingly demanding renewable energy for their global operations. It is simply a no-go to set up operations in places where renewable energy isn’t available, especially for corporations that have committed to using 100% renewable energy,” says Tom Lindberg, Managing Director, ECOHZ, a provider of global renewable energy solutions.
Many of the world’s most influential companies have committed to using 100% renewable electricity by 2020 under RE100. “There’s a reason why it’s called RE100 – not RE95. Corporates are demanding renewable energy for all operations in all regions where they operate,” says Lindberg.
I-RECs are now being introduced in a growing number of countries, including countries in the Gulf region. With I-RECs from ECOHZ, companies can now for the first time use an internationally recognised and valid tracking system to document that the electricity they consume in the Gulf comes from renewable energy sources.”
I-RECs is a global standard used in regions where no similar documentation scheme exists. Companies can buy I-RECs to document and report that the energy they consume outside Europe and North America comes from renewable energy sources.
The International REC (I-REC) standard builds on best practice from the North American Renewable Energy Certificate (RECs) market and Europe’s Guarantees of Origin system. I-RECs have strong stakeholder support, and the Greenhouse Gas Protocol recognises I-RECs as an important instrument to document electricity consumption from renewable energy sources.
ECOHZ has been a driving force in the global development of I-RECs, including making I-RECs available in new markets. In 2015, ECOHZ was the first to provide I-RECs from major Asian markets and began offering I-RECs in both Honduras and Turkey in the following year. ECOHZ is currently developing a global portfolio of I-REC power plants, with the aim of providing companies a wide selection of options covering most regions in the world.