Can companies currently use RECs to achieve both scope 2 and 3 emissions reductions? And do you see SBTi/ the GHGP being updated anytime in the near future to restrict the use of RECs? Thanks!
Hello Sarah,
Thank you for your question.
Per the SBTi Target Protocol, companies may use Renewable Energy Certificates (RECs) as a measure to reduce scope 2 market-based emissions (please note there is a typo in the published document that will be corrected very soon, the text above is the correct one).
FIs can also buy RECs to reduce their OWN scope 2 market-based emissions, but FIs cannot buy RECs to reduce their scope 3 category 15 emissions.
I hope this helps to clear your question.
I don’t have information regarding possible updates to the GHG Protocol.
Best regards,
Monica