•• Putting the Standard and Code into practice
Independent entities responsible for the registration and issuance of I-RECs
For each code and in each country the Board of the I-REC Standard Foundation must authorize/promote an issuer to implement these rules, adherent to the I-REC Standard. Without issuer authorization for a specific country or region it is not possible to issue I-RECs for production devices in that country or region. Issuers are responsible for the registration of ‘registrants’ (production device owners or entities acting on production device owners’ behalf) and their respective production devices in a country or region. In addition, they are responsible for the issuance of I-RECs, which includes the verification of data, which is typically provided by users.
Usually, a local issuer is a well-informed stakeholder in the country or region that can stay up-to-date with legislation and ensure the reliability of the implementation of the Standard. The role of the issuer can be fulfilled by a variety of entities such as for-profit organizations, non-profit organizations or governmental bodies. The most important aspect is that issuers must be able to act independently of the market meaning that they cannot be involved in the production of the underlying I-REC or in the trade of I-RECs.