EKR AND CARBON CREDIT MARKET
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EKR CREDIT MARKET
The energy efficiency obligation system (hereinafter referred to as EKR) is a policy measure that came into effect on January 1, 2021, which through traders or universal service providers that sell energy (natural gas, electricity, fuel) to end users as obligees (indirectly to users) wants to achieve energy savings in order for Hungary to meet its energy efficiency goals set out in the National Climate Plan. Hungary's goal is that the final energy consumption in 2030 should not exceed the 2005 value. To achieve this, between 2021 and 2030, an average of 7 PJ of new energy savings per year is required.
The EKR was published on December 21, 2020, 283. in the Hungarian Gazette no 2020 CLX took place. was introduced with the Act (On Amendments to Certain Energy Efficiency Acts).
After the introduction of this system, the company's energetic developments that have recently been realized or are intended to be started in the future have created a new exploitable advantage in the form of EKR credits. How can you capture these economic benefits?
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CARBON CREDIT MARKET
The carbon credit market has opportunities to help companies promote environmental sustainability and fight climate change. Carbon credits are units that make it possible to measure the reduction or avoidance of emitted greenhouse gases. Companies that emit greenhouse gases can buy or sell such credits on the market. Here are some of the opportunities that companies may have in relation to the carbon credit market:
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Incentives to reduce emissions: By reducing their emissions, companies can earn carbon credits that they can sell to other companies that have difficulty reducing emissions. This encourages companies to adopt environmentally friendly practices and technologies.
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New sources of income: The sale of carbon credits can be a new source of income for companies, especially those that effectively reduce their emissions. This financial motivation can encourage them to invest in sustainability measures.
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Green marketing and credibility: Using and selling carbon credits can help companies build a positive environmental image and show that they are actually contributing to the fight against climate change.
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Regulatory compliance: Compliance with emission quotas may be mandatory in certain regions and industries. Buying and selling carbon credits offers companies that cannot meet these requirements an opportunity to make up the shortfall.
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Innovation and technology development: The carbon credit market can be an incentive for companies to develop new technologies and solutions in terms of emission reduction and sustainable operation.
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Partnerships and cooperation: The carbon credit market creates an opportunity for companies to work together to reduce emissions. Through their cooperation, they can achieve sustainability goals more effectively.
However, it is important to note that the carbon credit market also has its own challenges and criticisms, such as transparency and difficulties in measuring true environmental impact. Companies must carefully plan and implement a carbon credit market strategy and monitor the changing regulatory and market environment.
