GoNetZero™ collaborates with Instituto Totum to scale the renewable energy certificate market in Brazil
Singapore, March 09, 2023
- First digital platform to provide end-to-end management of Brazil I-REC
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Photo description: Ng Lay San, Co-founder and Head of GoNetZero™. Image: Sembcorp Industries |
GoNetZero™, Sembcorp’s carbon management solutions corporate venture, today launched its blockchain-powered digital platform for trading Brazil International Renewable Energy Certificates (I-REC) at the inaugural I-REC Day Brazil in Săo Paulo, Brazil. The launch is the result of a collaboration with Instituto Totum, the authorised local issuer of I-REC in Brazil, to integrate the digital platforms of Instituto Totum and GoNetZero™.
The collaboration puts GoNetZero™ in a strong position to support the fast-growing renewable energy certificate market in Brazil. Brazil is the world’s second largest I-REC market where the volume of I-REC issued in 2022 doubled from the year before to 22 million, representing green energy equivalent to powering 4 million typical households* in Singapore for a year.
Renewable energy generators in Brazil are now able to seamlessly list their I-REC for sale directly on GoNetZero™’s platform upon the issuance of the I-REC by Instituto Totum. The streamlined process offers generators faster speed to market and convenient access to GoNetZero™’s global network of buyers. For corporates, GoNetZero™ provides a unique end-to-end journey for managing the entire life cycle of renewable energy certificates online - from issuance, trading and management to retirement.
CGN Brazil Energy, a subsidiary of China General Nuclear with 1.3GW of wind energy capacity in Brazil, has successfully onboarded its assets on GoNetZero™.
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Photo description: Fernando Giachini Lopes, Founder and CEO of Instituto Totum with Ng Lay San, Co-founder and Head of GoNetZero™. Image: Sembcorp Industries |
Ng Lay San, Co-founder and Head of GoNetZero™ said: “GoNetZero™ supports corporates to achieve their decarbonisation goals. We are pleased to deepen our reach in Brazil and are thankful to work with Instituto Totum, a like-minded innovative partner, to support the growing renewable energy market in Brazil.”
Fernando Giachini Lopes, Founder and CEO of Instituto Totum said: “The role of Instituto Totum is to facilitate access to the I-REC market in Brazil and this joint work with GoNetZero™ has achieved this objective: greater liquidity for I-REC Registrants and Participants and more access for buyers of any scale.”
* Based on the average household electricity consumption of a 4-room HDB household in Singapore in 2021
1Including acquisitions pending completion
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For analysts’ and media queries, please contact:
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Ling Xin Jin Assistant Vice President Group Investor Relations DID: +65 6723 3384 |
Karin Xiao Assistant Vice President Group Media Communications Tel: +65 6723 3140 |
About Sembcorp Industries
Sembcorp Industries (Sembcorp) is a leading energy and urban solutions provider, driven by its purpose to do good and play its part in building a sustainable future.
Headquartered in Singapore, Sembcorp leverages its sector expertise and global track record to deliver innovative solutions that support the energy transition and sustainable development. By focusing on growing its Renewables and Integrated Urban Solutions businesses, it aims to transform its portfolio towards a greener future and be a leading provider of sustainable solutions.
Sembcorp has a balanced energy portfolio of 16.7GW, with 9.8GW of gross renewable energy capacity comprising solar, wind and energy storage globally. The company also has a proven track record of transforming raw land into sustainable urban developments, with a project portfolio spanning over 12,000 hectares across Asia.
Sembcorp is listed on the main board of the Singapore Exchange. It is a constituent stock of the Straits Times Index and sustainability indices including the FTSE4Good Index and the iEdge SG ESG indices. For more information, please visit www.sembcorp.com.
About GoNetZero™
GoNetZero™ is a trusted net zero solutions partner to corporates. By providing one-stop access to renewable energy and carbon management solutions including renewable energy certificates and carbon credits, GoNetZero™ enables corporates in Asia and globally to take urgent climate action.
Underpinned by a collaborative digital platform using blockchain technology, GoNetZero™ offers renewable energy and environmental attribute portfolio management, a marketplace for renewable energy certificates and carbon credits and has the capability to verify renewable energy from source in real time.
GoNetZero™ is a corporate venture of Sembcorp Industries, a leading pan-Asian renewable energy player. For more information, please visit www.gonetzero.ai/
About Instituto Totum
Instituto Totum is a certification body accredited by the Brazilian Certification System, responsible for self-regulation programs in various sectors of the economy: agriculture, energy, food, safety and industry. Specifically in the energy sector, it is the Local Issuer accredited by the I-REC Standard Foundation for Brazil and Code Manager of the Biomethane Certification Program (GAS-REC).
Note to Editors:
With the official completion of the demerger, Sembcorp Industries and Sembcorp Marine have become distinct and separate entities as of September 2020. The demerger was officially recorded on the SGX.It is important to note that these two organisations are no longer affiliated with each other and should not be mistaken as the same entity.
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