General Information
Frequently Asked Questions
The I-TRACK Foundation
The International Tracking Standard Foundation (founder of I-REC) is a non-profit organization that provides a robust standard for developing attribute tracking systems. The Standard is acknowledged by major reporting frameworks such as STBi, CDP, and RE100 as a reliable backbone for credible and auditable tracking instruments. It ensures the highest quality systems and adherence to best practices designed to avoid double counting, double certificate issuance, and double attribute claims. To learn more about the I-TRACK Foundation, visit our About Us page.
The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation) is the representative of a globally recognized Standard (the International Attribute Tracking Standard) and is committed to ensuring unbiased access to product information and allowing end-users to confidently procure products whose origins are well documented and clearly accounted for. The Standard empowers energy consumers by providing renewable energy consumption choices around the world and supporting claims of sustainability. Recognized Issuers, stakeholders, and government bodies can consistently rely on the Standard and its associated Product Codes while implementing and running robust attribute tracking systems.
In recognition of the future global need for clearly auditable and reliable tracking information beyond renewable electricity, the organization ‘The International REC Standard Foundation’ has become the ‘International Tracking Standard Foundation: Founder of I-REC.’ The renaming of the organization has become effective as of December 2023.
The International Tracking Standard Foundation (I-TRACK Foundation) remains committed to the same vision and principles as before. The International Attribute Tracking Standard and I-REC(E) code will remain in place and the I-TRACK Foundation will continue facilitating Issuers to issue I-REC certificates for renewable electricity (I-REC(E)). The renaming of the organization allows the I-TRACK Foundation to expand its mandate and facilitate Issuers’ issuance of low-carbon certificates, non-renewables, and other commodities in the form of I-TRACK certificates.
Renaming the Foundation established a clear separation between renewable electricity and other product tracking so the I-TRACK Foundation is better able to demonstrate the value of renewables to stakeholders, governments, and other end-users while providing clear, reliable, and robust certificates of all products. The I-TRACK Foundation will continue to Accredit the I-REC for electricity, [I-REC(E)], market. To ensure continuity for operating the I-REC(E) market, the transition to the I-TRACK Foundation will be rolled during the coming months in 2024.
The International Attribute Tracking Standard
In our transition towards a clean economy, we are in need of end-users making conscious decisions based upon factual and verifiable facts. Attribute tracking, when done in a standardized and robust manner, empowers end-consumers to choose what to procure and therefore actively contribute to production methodologies that fit their sustainability criteria or the criteria defined by reporting standards or legislation. Attribute tracking creates full transparency in who is allowed to claim what portion of the electricity production (or the attributes of any other commodity or product), and empowers consumer choice, drives investment in clean energy, and provides governments with a market-based mechanism for innovation.
Many commodities, such as electricity, cannot be tracked from production to consumption in the absence of a standardized and fact-based accounting instrument. The only way to allocate portions of the market to a unique end-consumer is through a book-and-claim system. All EACs for electricity (e.g., GOs, RECs, and I-RECs) function on this principle.
The International Attribute Tracking Standard (Standard) is a governance document owned by the I-TRACK Foundation. As a standard, it is a set of requirements that ensures the quality of attribute tracking systems such as GO’s and REC are of the highest quality and meet the most rigorous expectations of stakeholders, market parties, and End-Users.
The goal of the Standard is to provide clear and concise rules for organizations that facilitate the Product markets for Product Certificates, as well as for the users of those associated markets. For more information on the Standard, visit this page.
The International Attribute Tracking Standard clearly separates the roles of various organizations into three primary categories:
1. The Standard setting organization (The I-TRACK Foundation)
2. The market facilitators – those organizations that provide services to the Product market.
3. The market players that support the production and trade of the associated Products and the End-Users or Beneficiaries of the Product Certificates.
Product Codes
A Product Code is a description of roles and set of rules approved and accredited by the I-TRACK Foundation as being adherent to the International Attribute Tracking Standard (Standard). The Product Code describes the application of the Standard and ensures reliable implementation of a Product Certificate.
For instance, the I-REC(E) Code sets out the definitions, processes, and procedures that form the requirements for the issuance, transfer, and redemptions of an I REC(E) and defines all procedures and processes relevant for the facilitation of the I-REC for electricity Product Certificate.
An I‑REC for electricity is referred to as I-REC(E) and is an exchangeable Energy Attribute Certificate (EAC) that conveys information about the production of a unit of electricity, such as where the electricity was produced, the capacity of the production facility, and the energy source.
Carbon Dioxide Removal (CDR): The C-Capsule Code for Carbon Dioxide Removal (CDR) has received preliminary Accreditation by the I-TRACK Foundation Board. However, the CDR-market is in its infancy and industrial-scale CDR processes require revenue streams to accelerate their growth.
C-Capsule are generated when a CDR-facility captures and durably sequesters a ton of CO2. These can then be traded and ultimately retired by a consumer allowing them to mitigate emissions. C-Capsule’s adherence to the I-TRACK Foundation International Attribute Tracking Standard allows consumers to be confident that they are receiving ex-post, faced-based, and independently verified CDR certificates.
Hydrogen is expected to complement renewable electricity and play an important, if not a fundamental role, in the world’s transition towards a cleaner and more secure energy future. With the use and application of hydrogen being scaled up, hydrogen investments around the world will see a significant and steady increase. The development of a Hydrogen Product Code will ensure consumers can mitigate emissions while providing a revenue stream for Hydrogen activity.
Yes, below are some other products that are currently in the initial stages of research and development:
• Methane Intensity
• Point Source Reduction
Market Facilitators
Only market facilitators can be Accredited by the I-TRACK Foundation. Market facilitators are organizations that have recognized a need for attribute tracking systems and have taken the necessary steps to coordinate the development of a Product market under the guidance of the International Attribute Tracking Standard (Standard). Market facilitators can be a government, private enterprise, or non-profit organization
The following roles are examples of market facilitators:
• Code Manager
• Issuer
• Registry Operator
• Platform Operator
• Verification Authority
For more information on Accreditation, visit our Accreditation Process page.
Code Managers are entities that are responsible for implementing the International Attribute Tracking Standard’s principles and rules into specific services for associated Product Codes. The I-TRACK Foundation works with the following Code Managers:
• Evident – I-REC(E) Product Code
• C-Capsule – I-TRACK(CDR) Product Code
• Avance Lab – I-TRACK(HX) Product Code
Further information on the code managers can be found here.
Accredited Issuers are entities responsible for processing production facility registrations, as well as issue requests relating to the activity of registered production facilities. Often, an Issuer is a grid operator, energy regulator, or other (semi) public entity. An overview of the Issuers can be found here.
Participants and Registrants
All information for registering as registrant can be found on this page
For registering as participant, all information can be found on this page. Here you will find all necessary documents to fill out for registration including the terms and conditions.
From the perspective of the I-TRACK Foundation, as a market facilitator, all market participants should participate by the same rules to ensure a level playing field in all energy attribute tracking markets.
• Participants pay their fees to the Registry Owner (for I-REC(E) that’s Evident), and these fees are equal throughout the whole world to ensure fair competition. Registrants deal with their issuer when it comes to fees.
• The fees from Issuers are updated yearly in collaboration with the I-TRACK Foundation and it is a fundamental point that all registrants pay the same fees when being registered at the same issuer.
• Discount on fees would allow unfair market circumstances and are therefore not applicable under any circumstances.
An overview of the fees can be found on this page under I-REC(E) fee structure.
Click here for the I-REC(E) market map, and to view local issuers.
The I-TRACK Foundation does not buy, sell, or influence prices of Product Certificates, such as I-REC(E). We do not set, limit, or recommend prices – the market does. Participants do the buying and selling, and each Participant usually has an inventory of I-REC(E)s from various countries.
To get an idea of how much I-REC(E)s in your country or region cost, please see our (continually updated) list of participants, which is available on this page. We recommend contacting the Participants directly for more information on current market rates. In addition, accredited Platforms can provide an insight in the current trading price of specific certificates.
End-consumers
When a broker redeems an I-REC(E) on your behalf, this entity will receive a redemption statement that must be passed over to you. This is a summary of the redemption and its authenticity can be verified by scanning the QR code on this document and filling in the verification key. The verification process takes place directly on the Registry (api.evident.app). When redeeming an I-REC(E) in your capacity as Participant or through one of the accredited Platforms, you will automatically receiving the same type of redemption statement.
You can reach out to one of the many brokers the on I-REC(E) participant list or search for I-REC(E) in one of the accredited Platforms.
A reporting framework is a standardized system for consistently reporting CSR management systems and CSR performance. Examples of acknowledged reporting frameworks are as follows:
- GHGP
- CDP
- RE100
- Race to Zero
- SBTi
Click here for the I-REC(E) market map, and to view local issuers.
Yes, Energy Attribute Certificates (EACs) such as I-REC(E) are accepted for reporting under these reporting frameworks but minor differences might occur. We recommend getting familiar with the rules of the reporting standard you are using to know what actions or purchases are required to support specific claims.
Practical Information
For all your questions or to give feedback, you can contact the I-TRACK Foundation through the Contact Us page of the website. Or you can contact the I-TRACK Foundation secretariat via secretariat@irecstandard.org
All documents are available on the Documents page of the Resource Section on the I-TRACK Foundation website. Please note that many documents are periodically updated while others are not. If you cannot find a document or notice that the document is dated (older than a few months) please contact the I-TRACK Foundation secretariat to see if there is a new or updated document available. To contact the I-TRACK Foundation secretariat, email secretariat@irecstandard.org
To stay informed of all I-REC(E) and other market developments, you can sign up for the I-TRACK Foundation’s quarterly newsletter via this link or regularly visit our website and see the latest news in our Resource Center.
The I-TRACK Foundation logo is only for use by Market Facilitators such as Code Managers, Registries, Issuers, and Platform Operators.
If you are interested in using the I-TRACK Foundation logo but aren’t sure if your organization is allowed, please contact I-TRACK Foundation secretariat at secretariat@irecstandard.org