Bangladesh and Burkina Faso approved as authorized issuance countries.
Bangladesh and Burkina Faso have been approved as authorized issuance countries by the board of the International REC Standard Foundation (I-REC Standard).
Registrants will be able to register their devices with the local issuer following the creation of the Local Working Instructions (LWI). The LWI is an internal document that explains the issuance process the Issuers in the respective countries will follow to facilitate a robust scheme in the country. More general information on how production device owners or their representatives can register can be found on this page.
In both countries, the GCC will be performing the tasks of the local issuer until a local issuer has been appointed for this role.
The I-REC Standard decides in which countries I-RECs can be issued through the creation of country assessment reports. The start of these reports is often led by market players or stakeholders with sufficient knowledge of the local electricity market and are interested in allowing the issuance of RECs in that market. A template of a country report can be found here.
Typically, the I-REC Standard requires that national government officials be informed of or support the creation of these voluntary markets. The support or acknowledgment from local authorities ensures that market development is sustainable, and that market players and stakeholders can have confidence in the long-term nature of the market.
Other important aspects the I-REC Standard must be informed on include 1) an overview of the local electricity market structure, 2) energy attribute ownership rights, 3) existing schemes in the country, and 4) potential demand.