The ever-evolving ESG landscape has created an urgency among corporations, government entities and other organisations to commit to ambitious sustainability goals. But achieving these goals and showing evidence of true positive impact on the environment has proven challenging when using traditional methods.
Environmental financial products – such as renewable energy certificates (RECs) or carbon offsets – provide an important tool for helping organisations achieve their sustainability goals.
However, there is sometimes a lack of high quality data underlying these products, creating a general deficiency in transparency and allowing for greenwashing or double counting (selling the rights to the same kWh of renewable energy or metric ton of CO2 avoided more than once) to occur.
This is because corporate climate-relevant data collection has historically relied on manual methods, which is not only prone to error, but is also a time consuming and costly process.
So, if an organisation is relying on purchasing and retiring environmental financial products to achieve its goals, how can it ensure that these are high quality products with verifiable impact?
A digital data and product solution – such as digital RECs (dREC™) – is able to provide the creators and buyers of environmental financial products access to cheaper, better product, with superior underlying data, in a form that is more easily tradeable.
The Allinfra Climate Dapp is an application with unique web3 capabilities that allows organisations to easily create, transfer and retire digital versions of environmental financial products without costly intermediaries.
The dapp works alongside our sustainability data management software, Allinfra Climate, ensuring that underlying data is verifiable and available in near real-time, improving provenance, increasing transparency and reducing delays in product creation.
The user-friendly application allows for simple management of environmental financial products, making it easier for organisations looking to achieve sustainability goals by buying and retiring dRECs.
Organisations can list and transact dRECs on open marketplaces like OpenSea. Then, they can login to the Allinfra Climate dapp to easily retire products, drill down to underlying climate-relevant data or embedded legal documentation, view a summary of products, and get quick access to total products purchased or retired – all with a few clicks of a button.
RE100 is a global corporate renewable energy initiative bringing together hundreds of large and ambitious businesses across industries committed to 100% renewable electricity.
This means that our software is independently validated as a robust climate data solution. Corporates, institutions and other organisations that have committed to RE100 can purchase and retire dRECs from the Allinfra Climate system with regards to their needs.
Ready to start achieving your sustainability and renewable energy goals with Allinfra Climate? Get in touch with our team to request a demo and learn more.