First I-REC(E) auction held in Oman
The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation) is pleased to share the news on Oman’s first national I-REC(E) auction held by Nama Power and Water Procurement (PWP) with the support from DLA Piper. This auction is a significant milestone for the local and regional I-REC(E) markets as it showcases an effective structure […]
The Royal Scientific Society has been approved as the local I-REC(E) Issuer in the Hashemite Kingdom of Jordan
The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation) Board has approved The Royal Scientific Society (RSS) as the local I-REC(E) Issuer in Jordan. About the Royal Scientific Society (RSS) The Royal Scientific Society (RSS) is an independent non-governmental, not-for-profit multidisciplinary science institution established by royal charter. Founded in 1970 as a national organization […]
I-REC(E) Market Statistics
2023 Overview The I-REC(E) market statistics for 2023 have been published. These statistics detail all issued and redeemed I-REC(E) around the world. Based upon the date of transaction, a total of 283 million certificates, representing 283 TWh of electricity, have been issued in all I-REC(E) markets combined during the calendar year of 2023. This fantastic […]
EACs and indirect emissions reporting under CBAM
Introduction The EU’s Carbon Border Adjustment Mechanism (CBAM) (Regulation (EU) 2023/956) links international taxation and emissions reporting for the first time and has the potential to propel decarbonization efforts globally. Understandably, the regulation carries significant implementation complexity and will require iterative policy and rules development during CBAM’s transitional period, which began in October and runs […]
Expanding the MoU between the International Tracking Standard Foundation and the Regional Center for Renewable Energy and Energy Efficiency
During the first few days of COP28 in December, the International Tracking Standard Foundations (I-TRACK Foundation) secretariat met with the Regional Center for Renewable Energy and Energy Efficiency (RCREE) members and discussed expanding the existing Memorandum of Understanding (MoU) that had previously been signed in May 2023. The I-TRACK Foundation agreed to expand our work […]
Kenya approved for I-REC(E) issuance
The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation) Board has approved Kenya for I-REC(E) issuance, with the intention of having the Energy and Petroleum Regulatory Authority of Kenya as the local I-REC(E) Issuer. Issuer The Energy and Petroleum Regulatory Authority (EPRA) of Kenya has been proposed as the local Issuer of I-REC(E) in […]
Release of NORSUS’ Methodology for Residual Mix calculation methodology in I-REC(E) issuing countries
*Since the date of this news item’s publication, the organization ‘The International REC Standard Foundation’ has changed to ‘The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation).’ In the earlier part of 2023, the Norwegian Institute for Sustainability Research (NORSUS), began research on developing a Residual Mix Calculation methodology for I-REC(E) issuing countries. […]
The I-REC Standard, Bursa Carbon Exchange, Sarawak Energy, and the Hydropower Sustainability Alliance sign MOC at COP28, signaling the offering of RECs
*Since the date of this news item’s publication, the organization ‘The International REC Standard Foundation’ has changed to ‘The International Tracking Standard Foundation: Founder of I-REC.’ On 4 December 2023, during the 28th United Nations Climate Change Conference of Parties (COP28) held in Dubai, United Arab Emirates, the I-REC Standard Foundation, Bursa Carbon Exchange […]
Expanding our mandate beyond electricity: The International REC Standard Foundation becomes the International Tracking Standard Foundation
In recognition of the future global need for clearly auditable and reliable tracking information beyond renewable electricity, the organization ‘The International REC Standard Foundation’ will become the ‘International Tracking Standard Foundation: Founder of I-REC’ (I-TRACK Foundation). The I-TRACK Foundation was established in 2015 as the International REC Standard Foundation (I-REC Standard) with the purpose of […]
State Grid Integrated Energy Service Group Co., Ltd (SGES) becomes I-REC(E) Issuer in China
*Since the date of this news item’s publication, the organization ‘The International REC Standard Foundation’ has changed to ‘The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation).’ The International REC Standard Foundation (Foundation), State Grid Integrated Energy Service Group Co., Ltd (SGES), and Evident Ev. Limited (Evident) signed a Local Issuer Agreement on […]