SINGAPORE - Sembcorp Industries announced on Thursday that its carbon management corporate venture, GoNetZero, has launched its digital platform for trading Brazil International Renewable Energy Certificates (I-REC) at the inaugural I-REC Day Brazil in Sao Paulo.

The company said it worked with Instituto Totum, an authorised local issuer of I-REC in Brazil, to integrate the platforms of both companies.

It added that Brazil is the world’s second-largest I-REC market, with the volume of I-REC issued in 2022 doubling from a year earlier to 22 million, equivalent to powering four million typical households in Singapore for a year.

Furthermore, Brazilian renewable energy generators will also be able to list their I-REC for sale directly on GoNetZero’s platform after they are issued by Instituto Totum.

“The streamlined process offers generators faster speed to market and convenient access to GoNetZero’s global network of buyers,” Sembcorp said.

“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,” it added.

Instituto Totum said the move will facilitate access to the I-REC market in Brazil and increase liquidity for I-REC registrants and participants, as well as improve access to buyers of any scale.

Shares of Sembcorp closed flat at $3.80 on Thursday, before the announcement was made. THE BUSINESS TIMES