By ACT Commodities Inc. | March 05, 2021
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On Feb. 3, ACT Commodities Inc. and Blue Source LLC announced the completion of the first renewable thermal certificate (RTC) voluntary corporate claim on the M-RETS platform, an industry leading tracking tool for renewable certificates. Thanks to this partnership, ACT became the first company to retire RTCs on behalf of a Fortune 50 corporate client to meet voluntary sustainability goals. This first-of-its-kind transaction represents a new option for corporate clients to utilize renewable natural gas (RNG) to lower their carbon footprints.
RTCs are a new tool that represent the environmental attributes associated with renewable natural gas and other renewable thermal commodities like green hydrogen.
“Like Renewable Energy Certificates which have an established market, RTCs are another tool for corporate buyers to address their environmental footprints without necessitating a change in their existing energy procurement strategies,” said Ronald Rozgonyi, ACT North America CEO. “We are excited to be a part of this growing environmental commodity market and to establish clear pathways for other buyers to follow suit using the M-RETS platform.”
M-RETS, a state-of-the-art platform that validates the environmental attributes of renewable energy, issues a traceable digital certificate for every dekatherm produced by a renewable thermal generator. The accessibility of RTCs on the M-RETS platform enables voluntary buyers to directly address the emissions related to their natural gas usage. RTCs empower buyers to trace and claim renewable natural gas consumption from specific facilities across the United States and Canada with confidence, lowering their own carbon footprints in the process. More climate friendly than fossil fuels, renewable natural gas is an essential tool to address a company’s Scope 1 emissions and make progress on carbon neutral commitments.
ACT’s leadership in the industry and expertise in identifying and developing new markets for environmental commodities generated an interest for renewable natural gas from one of its key corporate clients, a major consumer goods company in the United States with an ambitious climate goal. ACT turned to Bluesource, a leading environmental project developer, retailer and environmental action partner. With a rapidly growing renewable natural gas portfolio of 45 biogas projects and two decades of experience, Bluesource supplied the renewable natural gas for this innovative transaction.
“This first transaction is a big step toward developing additional liquidity for the renewable natural gas market. RTC demand is evidence of the growing interest from voluntary buyers to follow through on their sustainability goals and purchase renewable natural gas,” said Will Overly, Bluesource Vice President. “As companies continue to make carbon neutral commitments, RTCs will play a vital role in the fulfillment of these goals.”
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March 06, 2021 at 04:24AM
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