19th April, 2024 — REC (Renewable Energy Certificates) Market Meeting 2024, held under the theme "Valuing Consumer Demand," drew an unprecedented attendance of over 700 delegates from around the globe. As renewable energy markets face heightened scrutiny and regulatory evolution, the REC Market Meeting 2024 has once again proven to be the fulcrum for pioneering discussions and action in the energy sector.
In-Depth Sessions Drive the Decarbonization Agenda Forward
The conference's comprehensive program featured three parallel streams, tailored to address the multifaceted challenges and opportunities within the renewable energy landscape. With a focus on Europe, global market initiatives, and practical applications of Energy Attribute Certificates (EACs).
GreenPowerHub CEO Wei Cai, alongside experts Matheus Monteiro from Southpole and Killian Daly from Energy Tag, hosted session 6C, delving into the geographies and temporal boundaries of EACs. The session provided insights into navigating complex global boundaries and best practices for scope 2 decarbonization under Science-Based Targets initiative (SBTi), Carbon Disclosure Project (CDP), Greenhouse Gas Protocol (GHG), and Renewable Energy 100 (RE100), while also exploring scenarios with limited options. Furthermore, it highlighted pathways for sustainability leadership from companies such as Google and Microsoft via hourly tracking.
Global EAC prices overview
GreenPowerHub provided a global EAC prices overview, revealing significant discrepancies among different regions and countries. Notably, regions and countries traded below 1 EUR, including Brazil, China, and India, while others, like Nigeria, Mexico, the Philippines, and the UAE, traded between 1 and 3 EUR. High-price areas like Australia, Taiwan, Japan, South Korea, Singapore, and the UK were also identified. In Europe, the EECS market stood out as a high-price, volatile market, with prices fluctuating.
Different market structures, regulatory environments, and the availability of renewables all contribute to this complex price landscape.
Feedback from participants hailed Session 6C as one of the "most useful," a testament to the value of actionable knowledge shared. The session's success reflects the conference's overarching goal: turning climate ambition into tangible climate action.
Building a Sustainable Future Together
As the REC Market Meeting concludes, the dialogue and collaborations formed here resonate with the collective effort to shape a sustainable future. It's through these gatherings that we not only envision but actively construct a legacy of renewable energy for generations to come.
About GreenPowerHub
Based in Norway, GreenPowerHub operates the largest global EAC trading network, with 700 members from 40 countries, facilitating over 110 million EUR trades across global EACs markets, including GO, IRECs, US RECs, and UK REGO. Our platform prioritizes price transparency and 24/7 efficient trade execution, driving sustainability and energy market innovation.
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