Sber's blockchain platform has registered a purchase of Renewable Energy Certificates (REC), with Sber subsidiary OOO Sovremenniye Tekhnologii acting as the technical partner and TGC-1 being the issuer.

PJSC Polyus, the largest gold producer in Russia, acquired 303,460 REC certificates, covering its 1Q21 needs.

Green certificates are a proof that energy has been produced using renewable sources. Power generating companies can sell REC beside their physical supplies. These instruments improve the transparency of renewable energy consumption, also letting consumers prove that ESG standards are being met.

The decentralized platform designed by Sberbank's Blockchain Laboratory is an advanced tool to arrange instant and secure digital asset deals. Sber's ledger platform keeps track of green certificates represented by tokens and allows for signing smart contract deals guaranteeing that settlements will be timely and precise.

REC deals were made available on Sber's cloud ledger platform in late 2020 after the first deal with our partners.

The current deal between Polyus and TGC-1 proves that green certificates are a modern, convenient, and popular instrument to make power consumption greener. It fosters the development of renewable energy sources, with Sber becoming the guide letting companies transition to sustainable production and reducing their negative environmental impact. We are getting ready to sign more deals with several major customers and scaling up the product moving forward. By adopting green instruments like that, we assist the Russian economy's ESG transformation.

Alexander Vedyakhin

First Deputy Chairman of the Executive Board, Sberbank

Polyus is becoming the world's first major gold producer fully covering its needs with REC. This is a vital step for the company, and we hope that other market participants - both in and outside Russia - will follow suit. Transitioning to renewable energy sources is a key aspect in the transformation of the global economy in a push to prevent climate destabilization. The success of this transformation is in our common long-term interest.

Pavel Grachev

CEO, Polyus

TGC-1 power generation assets include TPPs and HPPs, letting us combine their upsides effectively. Free of CO2, the power that is generated by hydroelectric power plants enables our partners to bring their sustainable development strategies into life by reaching decarbonized production, ensuring compliance with environmental standards, and minimizing the risks of paying carbon fees when exporting to Europe.

Vadim Vederchik

Managing Director, TGC-1

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Sberbank of Russia published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2021 12:57:05 UTC.