Purchase Renewable Energy Certificates
Why do companies purchase Renewable Energy Certificates (RECs)?
Today, corporate commitment towards low-carbon activities to fight climate change is growing and driving change in the Renewable Energy (RE) industry. Never before has the clean energy market environment been as favorable as today for businesses to source green energy, and thereby supporting climate change mitigation.
While direct (on-site) green electricity consumption is the main contributor to Greenhouse gas emissions reduction, yet this is still for the many, not enough, or not practicable. This is where the RECs (also called Energy Attributes Certificates, EACs) come on the scene providing corporations an instrument to support RE generation, and meet clean energy and carbon emissions reduction targets.
Since 2016 LYS Offset Solutions, a subsidiary of LYS Energy Group, has been working with Fortune Global 500, and SMEs to develop and tailor sophisticated solutions to integrate offsetting instruments into their energy transition strategy. LYS Offset Solutions provides and manages stand-alone RECs that match businesses' electricity consumption and needs, generated from our owned-facilities in South East Asia.
One REC represents the intangible or non-power environmental attributes that is equivalent to one megawatt-hour of renewable electricity generated from an eligible renewable source.
By purchasing RECs, companies are enabled to claim the environmental benefits related to renewable energy generation. Today, corporations are choosing RECs as the cost-effective, direct, fast, and most reliable and flexible solution to meet their clean energy transition goals and consequently, their Scope-2 carbon footprint reduction.
Did you know this?
-> RE100 latest Progress and Insights Annual Report 2018 shows that 43% of the renewable energy sourced globally by their corporate members came from Renewable Energy Certificates, which drives this instrument as the most preferred sourcing approach supporting companies Scope-2 Greenhouse gas emissions efforts.
-> As part of the GHG Protocol Guidelines, Renewable Energy Certificates are required to be sourced from the same country generation as the electricity footprint.
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