How Does A World Top-500 Group Response To I-Track Withdrow China

Bridgestone, as one of the World’s top 500 companies, over the years, the Group has shown a commitment to living in harmony with nature, based on its Environmental Mission Statement, which was refined in 2011. The Group has been implementing initiatives to achieve its vision of “living in harmony with nature” to reduce CO2 emissions and tackle the urgent issue of global warming through technological development aimed at valuing natural resources. The Group set its long-term environmental vision toward 2050 in 2012, and Milestone 2030, its mid-term environmental targets toward 2030 to realize this vision, was announced in 2020.

In 2023, Bridgestone(China) achieved a Three-year(2024-2026) I-RECs purchase agreement with Sichuan Eco New Energy ( SECO) which aims to reduce Scope 2 emissions for its Chinese factories via Chinese I-REC procurement. However, on 13th Sep 2024, the I-TRACK Foundation officially announced they would exit the Chinese market after 31st March 2025. (China Introduces New EAC Policy • I-TRACK (trackingstandard.org)). Given this situation, SECO and Bridgestone(China) convened an emergent meeting to discuss “HOW TO FACE WITH THIS EMERGENCIES”. Eventually, we made a Practicable Programme(Three-F Programme) as below:

1.Follow I-TRACK’s latest announcement
The Group will perform vin2024 I-REC for reporting as soon as possible in 2024

2.Follow 21-months Principle
The Group is actively promoting internal progress to switch V2025’s I-RECs into H2 Vin2024 for 2025’s reporting as soon as possible since H2 V24’s volume aligns with RE100/CDP’s 21-month Principle for 2025’s reporting.

3.Follow GEC Principle
Bridgestone(China) is progressing on V26’s GEC for 2026’s reporting with SECO closely since then only GEC is available as EAC in the Chinese market.

We have to say the Three-F Programme above is reasonable and practicable, which is worthy of reference by other participants. 1). The buyers may lower purchasing costs maximally. GEC is more expensive than I-REC according to the China REC market recently. According to National Development and Reform Commission(NDRC) statistics in 2023, China’s total electricity consumption was 9,224.1 billion kilowatt-hours, bringing 5.136 billion tons of carbon dioxide. China’s emissions reached 12.6 billion tons of carbon dioxide, electricity emissions take almost 50%. EAC is still an effective way for scope 2 emission reporting. 2). The GEC will be the only way to prove green electricity consumption in the future supported by Chinese Government Policies strongly. The buyers located in China have to choose GEC as their instrument for scope 2 emission reporting. 

SECO, as a worldwide active GEC/I-REC/Carbon credits participant in China, served many TOP-500 enterprises in the worldwide involve semiconductor manufacturing industry, vehicle manufacturing industry, electrolytic aluminum industry, mobile phone manufacturing industry, hardware manufacturing industry, medical device manufacturing industry, etc. As one of the biggest EAC direct suppliers in China. We are collaborating with many renewable device owners in China which are state-owned even central-government-owned devices. We’ve got around 150 renewable plants registered in related EAC platforms. And also we’ve officially approved qualified GEC traders in GEC-related platforms by Registry Authorities. So, no matter whether GEC, I-RECs, or Carbon credits, we can fully meet your demand and provide reliable, stable, and sustainable service.