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International Renewable Energy Trading (I-RECs)
Empowering Global Sustainability through Verified Renewable Energy
At Bynamic Group, we are proud to be a registered partner with Evident, the global registry for International Energy Certificates (I-RECs). This partnership enables us to offer high-integrity, traceable renewable energy certificates to organizations seeking to meet their sustainability goals with confidence and transparency.
What are I-RECs?
International Renewable Energy Certificates (I-RECs) are market-based instruments that certify the generation of 1 megawatt-hour (MWh) of electricity renewable sources such as solar, wind, hydro, biomass. Each certificate represents the environmental attributes of that energy can be used to make credible claims about renewable consumption.
I-RECs are especially valuable in regions where no local renewable energy certificate system exists, offering a standardized and globally recognized solution for sustainability reporting.
Additionality:
Going Beyond the Basics
Additionally refers to the extra positive impact created by supporting new renewable energy projects. While many I-RECs come from existing assets, additionality-based I-RECs are tied to new departments, often through long-term agreements like Virtual Power Purchase Agreements (VPPAs). These certificates offer deeper environmental value and are increasingly favoured in advanced sustainability strategies.
I-RECs vs Carbon Credits
What's the Difference?
Understanding the distinction between International Renewable Energy Certificates (I-RECs) and Carbon Credits is essential for organizations looking to build a comprehensive sustainability strategy. While both tools contribute to climate action, they serve different purposes and operate in different markets.
Feature
I-RECs
Carbon Credits
Unit
1 MWh of renewable electricity generated.
1 metric tonne of CO2
Mechanism
Tracks renewable energy production and consumption.
Represents emissions reduction from projects like reforestation, methane capture, or renewable energy.
Use Case
Scope 2 emissions reporting (electricity use).
Scope 1 and Scope 3 emissions offsetting.
Purpose
Certify the use of renewable electricity.
Offset greenhouse gas emissions.
Standards
I-REC Standard, Evident Registry
Verified Carbon Standard (VCS), Gold Standard, etc.
Additionality
Can support new renewable projects through long-term contracts.
Often tied to projects that wouldn't happen without carbon finance.
Geographical Reach
Over 50 countries, especially where no local REC system exist.
Global, with project specific locations.
Claim Type
"We use renewable electricity."
"We offset our carbon emissions."
Which Should You Choose?
I-RECs: If your goal is to prove renewable electricity usage and reduce Scope 2 emissions.
Carbon Credits: If you need to offset direct emissions (Scope 1) or indirect emissions (Scope 3) for your supply chain, travel or operations.
For a truly impactful climate strategy, many organizations use both. I-RECs for clean energy sourcing and Carbon Credits for broader emission reductions.
Who can Benefit from I-RECs?
Bynamic Group & Evident
Your Trusted I-REC Partner
As a registered entity with Evident, Bynamic Group ensures that every I-REC transaction is secure, traceable, and compliant with international standards.
We provide:
1. Direct access to the I-REC registry
2. Customized procurement strategies
3. Support for sustainability reporting
4. Portfolio management and retirement services
