Singapore has updated its standard for renewable energy certificates (RECs), requiring companies to use certificates linked to renewable electricity supplied directly to the country’s power grid to substantiate claims of renewable electricity consumption.
Enterprise Singapore (EnterpriseSG), through the Singapore Standards Council (SSC), worked with the Ministry of Energy, Trade and Industry (METI) and the Energy Market Authority (EMA) to update Singapore Standard SS 673: Code of Practice for RECs on Tuesday.
Under the revised standard, companies can use RECs from renewable electricity generated in Singapore, including solar power, as well as certificates from approved low-carbon electricity import projects to support claims of renewable electricity consumption in the country.
RECs from overseas renewable energy projects that do not supply electricity to Singapore may still be purchased to support renewable energy development and regional decarbonisation efforts. However, these certificates cannot be used to substantiate claims of renewable electricity usage in Singapore.
The updated standard aims to provide greater clarity on how different types of RECs can be used to support renewable electricity claims, helping companies report greenhouse gas emissions and track their sustainability targets more credibly.
First introduced in 2021, SS 673 establishes a framework for measurement, reporting and verification requirements for the issuance and management of RECs. It also sets out good practices for REC transactions and claims to promote credible and consistent use of the certificates among energy users.
The amendments were developed by a public-private working group appointed by the SSC and overseen by EnterpriseSG. The group comprised representatives from government agencies, industry associations, renewable energy market participants and corporate REC users.
The revisions also underwent public consultation before being finalized.
EnterpriseSG, through the SSC, will continue to work with industry stakeholders to review and enhance the standard as technologies, market practices and international standards evolve.
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