Principles for Environmental Markets
Recommended Principles for Market-Based Solutions
© Environmental Markets Association, November 14, 2017
The Environmental Markets Association (EMA) is focused on promoting market-based solutions for environmental challenges through sound public policy, industry best practices, effective education and training, and member networking. EMA represents a diverse membership including large utilities, emissions brokers and traders, exchanges, law firms, project developers, consultants, academics, non-governmental organizations, and government agencies.
Best Practice Principles for Renewable Energy Certificate (REC) Markets
The Environmental Markets Association has established a set of Best Practice Principles for REC Markets, which can be applied to construct tradable REC markets with robustness and integrity in order to achieve RPS policy objectives in the most cost-effective manner.
EMA is focused on promoting market-based solutions for environmental challenges through sound public policy, industry best practices, effective education and training, and member networking. EMA represents a diverse membership including large utilities, renewable energy certificate (REC) traders and brokers, financial exchanges, law firms, project developers, investors, consultants, academics, non-governmental organizations, and government agencies.
EMA strongly supports the utilization of markets to achieve environmental policy goals. Well-designed markets yield many benefits including, but not limited to, transparent price signals determined through competition, risk mitigation opportunities, incentives for technological innovation, efficient allocation of capital and resources, investor certainty, and ratepayer protection. In support of RPS objectives, EMA endorses the following set of Best Practice Principles for REC Markets:
For additional information about these Best Practice Principles for Renewable Energy Certificate Markets and their RPS advantages, please view our Supplemental Guidance Document for REC Markets Here
Master Renewable Energy Certificate Purchase and Sale Agreement
NOTICE AND DISCLAIMER: This Master Renewable Energy Certificate Purchase and Sale Agreement (this “Agreement”) was prepared by an ad hoc working group comprised of members of the Renewable Energy Resources Committee and the Special Committee on Energy and Environmental Finance of the American Bar Association’s Section of Environment, Energy and Resources (“SEER Committees”), the Environmental Markets Association (“EMA”), and the American Council on Renewable Energy (“ACORE”) to facilitate orderly trading in and development of renewable energy certificate (also known as green tags) markets. Neither the American Bar Association, the ABA Section of Environment, Energy and Resources, the SEER Committees, EMA, nor ACORE, nor any member of any of the foregoing, represents that this document is enforceable, and none of the foregoing will be responsible for anything connected with this document’s use, or any damages or other consequences resulting therefrom. By making it available, the foregoing do not offer legal advice, and all users are urged to consult with their own legal counsel to ensure that their commercial objectives will be achieved and legal interests protected. This document is jointly copyrighted 2007 by EMA and ACORE, and all potential users of this Agreement are hereby granted a free and perpetual license to use this document, so long as the source is credited by the user. The working group intends to periodically review and revise this document after publication, to keep it current and responsive to market developments and comments received. This statement of intention in no way should be construed as a warranty or assurance that further revisions will be forthcoming, or of the timeliness or comprehensiveness of such revisions. If you are interested in becoming part of the working group, or have questions or comments, please contact EMA at email@example.com