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Environmental Certificates

In implementation of environmental protection policies at European and global level, market mechanisms have been introduced in Italy aimed at promoting environmental protection measures in order to reduce damaging air emissions by developing renewable sources of electricity, increasing the energy efficiency of industrial processes and applying new technologies.

The aim of the project is to study in depth the issues concerning the assessment and the accounting treatment of securities issued to producers of clean energy (green certificates) and units of greenhouse gas emission (grey certificates).

The project aims to analyse:
–    with reference green certificates, their accounting treatment by the producer/importer of electricity from non renewable sources,  producer of electricity from renewable sources and by the trader in such certificates;
–    with reference to grey certificates, their accounting treatment by the entity that owns industrial plants that produce greenhouse gases, and those purchased from traders.

The national accounting standards issued by the OIC are addressed to private entities which prepare financial statements in accordance with the provisions of the Civil Code.

Status of the project
On 6 February 2012, the following exposure drafts have been published: I certificati verdi and Le quote di emissione di gas ad effetto serra.
The documents are open for comments until 10 April 2012. Please send comments by email to staffoic@fondazioneoic.it or by fax at +39.6.69766830.

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