OSLO, Norway, April 29, 2015 /PRNewswire/ --
The increasing demand for electricity from renewable energy sources is high on the agenda when more than 180 purchasers, suppliers and stakeholders of renewable electricity meet at the annual international RECS Market Meeting 2015 in Oslo from 29 - 30 April 2015. For the first time, corporates and suppliers are collaborating around solutions that allow companies to consume and contribute to new renewable energy production without committing to major infrastructure investments.
Guidance, such as the new Greenhouse Gas Protocol Scope 2, standardizes how corporations measure and report on emissions from purchased or acquired electricity, giving them the support they need to integrate renewable energy programs into their sustainability targets. Initiatives such as the recently launched RE100 are also encouraging greater action, with the world's most influential companies committing to 100% renewable power. Now global players can get solutions that cover many regions of the world. ECOHZ and The CarbonNeutral Company have teamed up to provide a complete solution, including renewable power documented with Renewable Energy Certificates (RECs) in North America, Guarantees of Origin (GOs) and ECOHZ GO2 in Europe. This solution also involves contribution to a new plant for renewable energy production. H&M is the first company to commit to such a wide-reaching agreement. These combined measures will increase the use of renewable power in H&M's international operations from 27% in 2014 to 80-100% in 2015.
"ECOHZ GO2 documents renewable electricity and this first agreement around ECOHZ GO2 brings crucial top financing to a small hydro plant in Norway. The plant will, during its lifetime, produce more renewable electricity than in the contract," says Tom Lindberg, Managing Director, ECOHZ. "Adding new renewable energy sources was previously only possible through more complex investments in on-site power projects. Now companies can make a real contribution to the creation of new, renewable energy. We hope that many other large corporations will follow suit and thereby make a significant difference by beginning to help produce as much as they use," adds Lindberg.
"A portfolio approach to creating a renewable energy program ensures a business can commit to renewable energy in the majority of countries where it has operations. Increasingly corporations are taking advantage of the flexibility offered by renewable energy instruments in order to meet their specific requirements, combined with the speed with which solutions are delivered, to meet ambitious renewable energy targets," says Mark LaCroix, Executive Vice-President at The CarbonNeutral Company.
"It is great to see companies make such public commitments to renewable electricity. We are certain that this commitment to renewable energy will ensure that other retailers and suppliers will increasingly understand that demand for renewable electricity is growing and can play an important role in transforming the electricity system of countries. Corporations can also play an important role in making renewable electricity more readily available in countries where electricity consumption will grow substantially in coming decades, such as in China and India," said Pedro Faria, CDP Technical Director, and member of the Steering Committee of RE100.
About The CarbonNeutral Company
The CarbonNeutral Company is a world-leading provider of solutions to businesses reducing their environmental impacts. It aims to be the trusted partner to companies committed to reducing their environmental impacts with solutions that strengthen their business. From renewable energy to carbon emissions measurement and offsetting, to water stewardship, building supply chain resilience and protecting biodiversity, it has developed a track record of innovation and quality in the relentless pursuit of solutions that will meet clients' needs. With offices in New York and London, its global team combines experience working in international B2B corporations, carbon markets and trading, environmental project development, engineering, marketing communications, and consulting. http://www.carbonneutral.com
ECOHZ is a leading supplier of a wide range of renewable energy solutions to electricity providers, businesses and organisations across Europe, North America and Asia. The renewable electricity is documented by Guarantees of Origin in Europe, RECs in the US, and I-RECs in selected Asian markets. ECOHZ also provides a new and innovative solution - GO² - combining a renewable energy purchase with the financing and building of new renewable power generation. Companies choosing documented renewable energy can reduce their carbon footprint and improve their sustainability ratings. ECOHZ is among the leading independent suppliers in Europe, and is located in Norway and Switzerland. http://www.ecohz.com @ECOHZ
SOURCE The CarbonNeutral Company