More renewable energy needs to be produced and consumed in order to limit global warming to 1.5 degrees. This is a challenge for everybody, especially for companies that use significant amounts of electricity. Power generation is responsible for 30-40% of global emissions, of which businesses are responsible for half. By using and producing renewable energy, companies can act on climate, new business opportunities, and meet expectations from investors, authorities and consumers.
ECOHZ is specialized in providing renewable energy solutions through traceability mechanisms. Energy Attribute Certificates (EACs) document that the energy you consume comes from renewable sources. These are Guarantees of Origin in Europe, RECs in North America and I-RECs in a growing number of countries in Asia, Africa, the Middle East and Latin America.
Each EAC represents proof that 1 MWh of renewable energy has been produced and injected to the grid. EAC complies with the Greenhouse Gas Protocol Scope 2 Guidance and is a recognised tool to document electricity consumption from renewable energy sources and to report reduced greenhouse gas emissions. Using EACs is an effective way to improve sustainability rating.
Guarantees of Origin (GOs)
The EU Renewable Energy Directive from 2009 states that Guarantees of Origin prove to consumers that a given quantity of energy was produced from renewable energy sources. GOs is a purely voluntary system used by businesses, public institutions and households in Europe.
Renewable Energy Certificates (RECs)
To document and report that the energy you consume in North America, especially in the U.S., comes from renewable energy sources, you must buy Renewable Energy Certificates (RECs). RECs are used for reporting in the US both for compliance purposes as well as voluntary consumption.
International REC Standard (I-RECs)
I-REC is a newer global standard being introduced in a growing number of countries where no similar scheme exists. I-REC builds on best practice from the North American REC market and Europe’s GO system and has strong stakeholder support. Currently I-RECs are issued in 22 countries for use in a number of regional countries, based on the Renewables Good Practice (ReGP) criteria
Create renewable energy while consuming renewable energy with GO²
Consuming electricity documented with EACs impacts the energy transition by stimulating more renewable production. International accounting frameworks, such as the Greenhouse Gas Protocol Scope 2, CDP and initiatives like RE100 that work with the world’s most influential companies committing to 100% renewable power, encourage companies to go further and create a more direct impact. ECOHZ GO² is an innovative product that creates such impact in Europe. Combining GOs with a financing element allows companies to directly cause new named renewable projects to be built. GO² is accessible and low risk, enabling companies to engage and quickly create energy positive impact.