Introducing Reneum and the RENW Token
Why are We Here?
We are running out of time.
2021 has seen record heat waves, flash floods, and fires ravaging entire cities. Scientists have been warning us for years that extreme weather is going to get more extreme. We’re living it now in real time.
This summer’s IPCC report highlighted just how important it is to cull the burning of fossil fuels — the chief driver of the climate crisis — yet the world’s dependency on fossil fuels is set to get even worse in the coming decades.
This reality, to many, indicates inaction — leading to an internationally-experienced sense of betrayal from political and corporate leaders.
“Ecological Grief” is an experience so pervasive that it has its own Wikipedia page. “Climate Anxiety” and “Climate Psychology” are even being studied as new fields of psychiatric research.
To frame the sense of angst for the future of the planet, 40% of young adults fear having children due to the climate crisis. And while it’s inspiring to see the young activists taking the train to #COP26 to debate the planet’s future, we all know that the fate of climate decisions truly lies in the hands of corporate and political leaders. As #COP26 kicks off this week in Glasgow, it’s worth reflecting on how short we’ve fallen of our climate commitments from the notorious Paris Agreement.
Most certainly one of the major topics of discussion will be the 2021 United Nations’ Intergovernmental Panel on Climate Change, which issued what U.N. Secretary-General António Guterres described as a “code red for humanity. The report sounds a death knell for coal and fossil fuels before they destroy our planet.” Another study published in Nature concluded that 90% of coal must remain unextracted and nearly 60% of oil and fossil methane gas must stay underground, to have even a 50% chance of keeping global temperatures from rising 1.5 degrees Celsius above pre-industrial levels.
Yet, STILL:
- Fossil fuel subsidies amount to more than 10x that of renewables
- Heavily regulated markets in developing economies continue to favour vested interests of coal and gas
- Rapid urbanization and growth has led to approved build-outs of new fossil fuels in emerging markets
- Project developers often face credit risks meaning limited access to capital to build
- Feed-in-tariffs supporting new developments are declining or being phased out
- Carbon markets effectively taxing polluters still suffer fraud and data manipulation, and are cumbersome for users
- Current environmental instruments fail to achieve liquidity and are cost-prohibitive for both renewable producers and individual buyers
These obstacles make it impossible to buy renewable energy or invest directly in many markets. Specifically in some of the world’s most vulnerable markets to climate change, unsubsidized renewables leaves developers struggling to manage operating costs, with credit risks aggravating international investment.
A Decentralized Solution
An environmental instrument called a Renewable Energy Credit (REC), can help. To encourage capital flows into clean energy and help drive new renewable energy development, RECs — equal to 1MWh of renewables generated — are issued to renewable energy owners. They are environmental instruments representing the green attributes of producing renewables.
RECs are typically sold as paper instruments over-the-counter (OTC) in a convoluted process that includes multiple intermediaries, protracting time and costs for renewable owners. Traditional “paper market” RECs are certified through a complex web of processes that tend to deter small renewable projects, and are restricted to only certain markets where networks have been established for commercial purposes. This inherently excludes many countries; most often those that need it the most. RECs are also typically purchased by multinational corporations via third-party brokers, whose cost structure and networks tend to preclude smaller investors or individual buyers. This means that even the most well-intending individuals cannot purchase RECs or participate in this market.
Recognizing these market inefficiencies, the Reneum Institute conceived of an upgraded global, and digital REC marketplace. Credits called “RENW tokens” are issued entirely on, and secured by the blockchain. In typical decentralized fashion, the RENW token offers a solution to the obstacles of centralization by opening up a truly global and inclusive marketplace. In doing so, Reneum creates unprecedented liquidity and stability by offering a mechanism to monetize RECs for renewable energy producers worldwide, as well as enabling environmentally-minded individuals to participate in the energy transition.
How Does Reneum help the Energy Transition?
In many parts of the world, renewable energy uptake is often hamstrung by the inability of developers to secure financing from capital markets, particularly in many of the markets that most need and want it. RENWs can bridge the financing gap and play a crucial role in driving necessary investment. RENW token proceeds go directly to the renewable energy project owners — solar and wind farms globally — to help them maintain operations. As a not-for-profit, Reneum issues RENW tokens free-of-charge to generators of renewable energy, providing a direct resource to renewable energy owners.
RENW supports existing developers with operating resources, provides a secure revenue stream that improves their financial risk profile to investors, and signals to new entrants that there’s renewable energy demand in the market.
What does this mean for everyone else?
In most countries, grid-based electricity comes from fossil fuel sources. Consumers have no choice or control to select their energy mix and opt for green power, even if they want to. RENW gives consumers the power to choose their power.
RENW is the largest global marketplace for renewable energy, and the first available on a totally decentralized network. Reneum empowers individuals everywhere to drive the transformation of the electricity grid by demonstrating the increasing demand for clean power. By buying RENWs, you are directly impacting the future of renewable energy adoption, thereby influencing the outcome of the climate crisis.
Reneum is democratizing the energy transition by help you can make a difference in the fight against fossil fuels. Buying RENW is the easiest way to take real action. Climate Anxiety is real, but, we’re here to help you do your part.
Stay tuned for more on RENW on Medium, or contact us to join our efforts.
PRESALES OF THE WORLD’S FIRST RENEWABLE ENERGY-BACKED TOKEN BEGIN IN AUTUMN 2022.
