The Abu Dhabi Department of Energy (DoE) has launched a Regulatory Policy for Clean Energy Certificates aimed at decarbonizing the energy sector and as an initial step for setting up a market for trading renewable and nuclear energy attributes in the emirate.
The Policy sets out the regulations and principles for implementing a clean energy certificates scheme in Abu Dhabi, as a measure to help reduce the carbon footprint associated with power generation while offering a reliable accreditation system that caters to the growing appetite to contribute to the fight against climate change.
These certificates serve as proof of electricity produced from a clean source, declaring that each renewable energy plant generated.
The DoE has designed the Clean Energy Certificates scheme based on the internationally recognized attribute tracking system for renewable energy certificates developed by the International Renewable Energy Certificate Standard Foundation (I-REC Standard).
The Clean Energy Certificates are voluntary tradeable financial instruments that certify the purchase of a specific amount of electricity that has been generated from a clean energy source. Once the solar or nuclear energy is fed into the grid, the Clean Energy Certificates can be traded as credits to claim the environmental and social benefits of low carbon energy consumption.
“With heightened alerts about the impacts of climate change and an increased commitment to environment protection by customers and major companies who want their practices to reflect their social responsibility, our Clean Energy Certificates offering is timely and will support end-users in their sustainability goals. We are delighted to launch the Regulatory Policy for Clean Energy Certificates to support the overall integrity of measuring, reporting, and accreditation requirements for the issuance and management of such certificates while ensuring alignment with international practices and additional domestic criteria.”
Mr. Othman Al Ali, Chief Executive Officer of EWEC, said, “The UAE has an ambitious program of initiatives to take climate action, and EWEC is actively supporting these by leading the change in the energy sector with a focus on sustainability and renewable technologies. EWEC will facilitate the implementation of Abu Dhabi’s Clean Energy Certificates scheme by offering I-REC accredited certificates for sale on a quarterly basis.”
Anyone wishing to obtain a clean energy certificate can be a participant, who can then purchase and sell the clean energy certificates in whole or in part to end customers. This allows anyone, from large corporations to smaller environmentally conscious businesses, to benefit from the system, regardless of their level of consumption. Anyone can buy certificates that guarantee that the electricity they consume does not emit CO2, DoE said.