Peace Renewable Energy Credit: Unlocking Renewable Energy Solutions in Conflict Settings
by Energy Peace Partners
Climate change has dire consequences for populations in fragile states, who are not only climate vulnerable but also often conflict-affected and energy poor. Those most in need do not have access to current climate solutions or the $250 billion annual investments in renewable energy. Renewable energy can have multiple short- and long-term benefits in crisis contexts, but its adoption requires policy shifts, and financial innovation to link existing solutions with vulnerable populations.
The Peace Renewable Energy Credit (PREC) supports renewable energy in fragile settings. The PREC leverages the $1 billion Renewable Energy Credit (REC) market, which allows trading of environmental attributes between renewable energy producers and institutional buyers. PRECs will be the first RECs with social benefits that monetize renewable energy generation from off-grid projects in conflict settings, and linking robust international energy markets to fragile states.