Welcome to Envest Asset Management LLC’s REC Offset Program
Advancing Sustainability and Client Impact
Envest Asset Management, LLC presents its Renewable Energy Certificate Offset Program (REC Offset Program). Through our sustainability-focused investment advisory and planning services, our company and clients fight global warming. With the REC Offset Program we added another dimension to fight global warming by supporting the renewable energy industry. Watch the video to learn more.
Frequently Asked Questions
Q: What is the Renewable Energy Certificate Offset Program (REC Offset Program)?A: Envest Asset Management, LLC (EAM) procures RECs at its own expense to offset our clients’ use of fossil fuel generated power. In doing so, EAM directly supports and our clients indirectly support the renewable energy industry.
Q: What are Renewable Energy Certificates (RECs)?A: RECs are tradable, non-tangible energy commodities in the United States that represent proof that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource (renewable electricity)
Q: Who is allowed in the program?A: The REC Offset Program is for all EAM Investment Management Services clients that elect to participate in the program or non-clients at EAM’s discretion.
Q: Is there a cost associated with the program?A: EAM procures RECs at its own expense.
Q: Does EAM supply or pay for my power? A: No. We do not act as a power supplier or reimburse our clients for their power use. We match our clients’ fossil fuel power with our RECs and retire them to offset our clients’ fossil fuel generated power.
Q: Do I need to notify my power provider or utility? A: No. The REC Offset Program does not affect how or when the power is provided nor our clients cost of electricity.
Q: Is there an exchange of RECs between EAM and its clients?A: There is no physical exchange of RECs between EAM and our clients. EAM maintains all RECs and records the retirement of RECs to offset our clients’ use of fossil fuel power.
Q: What does EAM mean by Retiring RECs?A: A retired REC is one that is no longer in circulation and no other person or entity can make a claim on the environmental benefits associated with that retired REC.
Q: How does it work?A: Please watch our video or contact us for more details.
Q: What renewable resource do you use?A: RECs can be generated by many different resources, like wind, solar, water. We are currently using RECs generated from wind.
Q: Do I get to claim that I use renewable energy?A: The ability to claim renewable energy resides with the owner that retires the RECs. In this case it is EAM. However, clients that elect to utilize the program may say “Under a collaboration with Envest Asset Management, fossil-fuel power used at our facility is offset with renewable energy certificates through Envest Asset Management’s REC Offset Program.”
Q: What's in it for me?A: EAM’s clients recognize that their investment decisions can be used to fight global warming while investing for their future financial needs. The REC Offset Program is EAM’s way of saying “Thank You” to its clients for taking that step. Electricity production results in the second Largest source of Greenhouse Gas Emissions. The REC Offset Program supports fossil fuel-replacing renewable energy. Check out our blog post – Sustainable Investing For All Q&A that describes the impact of climate change.