Sberbank: Joins I-REC international energy tracking standard

December 27, 2020

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Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

Sberbank signed an agreement with the international non-profit organization I-REC Standard Foundation
The agreement will enable the largest Russian bank to provide support to stakeholders
Create a fundamentally new and innovative market for Renewable Energy Certificates in Russia
I-REC certificates allow renewable energy generation companies to sell green attributes of their electricity together with or separately from physical supplies
Sberbank and I-REC Standard Foundation will join hands to develop a marketplace to sell I-REC certificates in Russia
As of now, the I-REC register contains 13 companies producing electricity using renewable energy sources in Russia