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Why GoldPower

Reportability

GoldPower is reportable under an increasing number of global reporting schemes and renewable energy purchasing initiatives. These currently include the Greenhouse Gas Protocol (see details below), Carbon Disclosure Project, WWF Climate Savers, WindMade, RE100 and the Australian NCOS Carbon Neutral program. In some cases these schemes have additional conditions which affect how and when GoldPower can be used. We can advise you on these in order to ensure that your GoldPower purchase best meets your reporting needs and other purchasing criteria.

Reporting GoldPower under the new GHG Protocol Scope 2 Guidance

In February 2015 the World Resources Institute released new guidance on reporting Scope 2 emissions under the GHG Protocol Corporate Standard. The new guidance provides much greater recognition for the use of RECs towards renewable energy and/or Scope 2 emissions targets. It also provides detailed eligibility criteria and disclosure requirements to ensure that quality standards are maintained.

The new guidance offers a valuable and immediate solution for corporates who wish to purchase renewable energy and communicate their actions, without the capital requirements, time delays or other challenges associated with direct investment in renewables.

GoldPower is a premium REC product, which meets the detailed quality criteria under the new Scope 2 guidance, as well as providing additional value to buyers. How GoldPower meets the GHG Protocol Quality Criteria for RECs:

  • Emission Rate Claims: Each MWh of GoldPower sold has an Emission Rate of zero. This is conveyed to the customer by way of an unbroken chain of custody from project certification to retirement.
  • Unique Claims: No other instruments carrying the emission rate attribute can be issued from a project for the same period of electricity generation.
  • Retirement: All GoldPower RECs are retired on behalf of buyers. The transparent and public GoldPower Register provides details of all sales and retirements, and an independent annual audit provides further quality assurance.
  • Vintage: The year of electricity production for GoldPower shall match the energy consumption of the reporting calendar year.
  • Market Boundaries: GoldPower used for GHG Protocol Scope 2 reporting must be sourced from renewable electricity production facilities in the same market as the reporting entity’s electricity consumption.
  • Residual Mix: GoldPower projects are typically in countries that do not have a system for calculating and reporting a residual mix – this should simply be disclosed by the reporting entity.

All GoldPower purchases, provided that they comply with the Market Boundary requirement above, can be accounted for as zero-emission renewable energy under GHG Protocol reporting, and count towards renewable energy and Scope 2 emission reduction targets.

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