ISDA Publishes REC Annex
The International Swaps and Derivatives Association (ISDA) is launching and publishing the ISDA U.S. Renewable Energy Certificate Annex (REC Annex), which is designed to serve as an industry standard template to enable market participants to efficiently sell and purchase renewable energy certificates (RECs) under the ISDA Master Agreement. The REC Annex is part of ISDA's broader efforts to facilitate the transition to a sustainable economy by offering a vital tool to help market participants mobilize financing and/or meet their environmental, social, and governance (ESG) goals. Jones Day advised on and prepared the REC Annex as ISDA's counsel.
The Commentary and Annotated ISDA REC Annex discusses the purpose and benefits of the REC Annex and provides an annotated version of the REC Annex with explanatory footnotes to further guide market participants on select provisions in using the REC Annex.
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