•• Facilitating third-party services
Entities expanding and simplifying market player interactions with I-RECs
EAC markets implemented in adherence with the I-REC Standard can be compared to a concrete tube, what goes into that tube needs to be heavily regulated (issuance) and what comes out of that tube (redemptions) needs equally strict controls to ensure end-users can make robust and reliable claims. What happens in the tube – the market for I-RECs – is free for market players to define on their own, as long as the underlying data that went in is not modified, lost or amended. It is also critical that, at the point of exit, the ownership of the REC is clearly defined and linked to the REC in perpetuity.
In this way, the I-REC Standard is looking to facilitate platform providers who develop different “tubes” or trading mechanisms between issuance and redemption. If there are no leakages or modifications, it should be possible for any party to develop a platform in adherence with the I-REC Standard. All platform operators are subject to accreditation by the I-REC Standard Foundation board.