Looking back at 2021 with Geneco
29 December 2021
Looking back at 2021 with Geneco
Entering into the second year of the pandemic, 2021 has come with its own set of challenges. While the year has been about continuous adapting and living with the new norms amid these Covid-19-related conversations, the topic of climate change has come to the fore, buoyed by the freshly unveiled Singapore Green Plan 2030 and recently concluded 2021 United Nations Climate Change Conference (COP26).
It is heartening to see governments, businesses and individuals alike coming together to make a difference for our planet Earth. Regardless of seemingly small actions like bringing our own reusable containers for takeaway meals or national-level movements of setting Singapore’s green targets, we believe that each effort counts in making a collective difference.
Looking back at 2021, Geneco have also rallied our communities and partners to do good for our environment as we continued to build upon what we’ve achieved in the past year. The year has no doubt been fruitful for us as we kept true to our mission to #PowerTheChange. As the year comes to a close, let’s take a look back at some of the milestones we’ve achieved together with you.
Chinese New Year Red Packet Recycling Bins
We kicked off 2021 with the exciting launch of our inaugural Used Red Packet Recycling Initiative. In partnership with like-minded local brands such as CRU, IUIGA, Tay Paper Recycling, and one of our Changemakers – Refash, we deployed 28 recycling bins across Singapore to encourage the public to drop off their used red packets and make a difference for our rainforests by recycling and reducing our paper waste. These red packets were then sent to Tay Paper Recycling to be pulped and made into other paper products.
We were truly heartened by the overwhelming response from the nation, with more than 410kg of red packets collected in less than a month! As Singaporeans remain eco-conscious even amidst the festivities, we look forward to keeping this tradition alive and continue making a difference for our planet in 2022.
Geneco’s joins NParks’ #OneMillionTrees – Plant-A-Tree Programme
As part of Singapore’s plan to transform our country into a City in Nature, the government has committed to planting a million trees across our island over the next decade. These trees play an important role by serving as natural filters and adding to the lush greenery we enjoy in Singapore. At the same time and most importantly, they contribute to strengthening our country’s resilience towards climate change.
Achieving this ambitious goal of one million trees requires contributions from both the public and private sector. As such Geneco has pledged to plant 250 trees over the next five years and is proud to be doing our part for this nationwide effort.
Our plan was set into motion on Earth Day (22 April) this year at Windsor Nature Park, where we planted our first 50 trees together with our Changemakers – Comcrop, Cultivate Central, The Food Bank Singapore, Green Nudge, Refash and Repair Kopitiam – as well as like-minded corporate partner Standard Chartered Singapore.
On the very same day, we also launched our new comprehensive and integrated solar panel solution – the Power Eco Total Home Solution, for landed residential homes..
These mark another of our many green efforts as we contribute to Singapore’s goal to becoming a greener and more sustainable city.
Powering Change with our #ChangeMakersSG
Throughout the year, we were honoured to also continue strengthening the bonds with our #ChangeMakersSG partners while giving back to the communities and furthering our green message.
In the midst of 2021 when the nation went into Heightened Alert once again for Covid-19, many organisations were impacted and our Changemaker – The Food Bank Singapore – was no exception.
In a bid to increase their delivery efforts and distribute 1,500 food bundles to their beneficiaries, Geneco rallied for support from our social media family, and together, we prevented more than 6,700kg of food from being wasted.
And as the nation moved forward with the ease of safety measures in July, we partnered with And as the nation moved forward with the ease of safety measures in July, we partnered with Refash and join in the global #PlasticFreeJuly movement, to encourage everyone to #PowerTheChange and reduce their single-use plastics.
By contributing 1,300 Geneco tote bags to Refash’s outlets, customers could redeem these tote bags for free instead of opting for plastic bags with any preloved item purchased.
Through such sustained efforts, we hope to inculcate greater awareness towards the harmful effects of plastic waste and inspire individuals to take a step towards a #PlasticFree future!
Go Green Your Way with Power Eco Add-on
In celebration of our nation’s birthday on 9 August, Geneco launched our Power Eco Add-on, Singapore’s first-and-only green add-on for electricity plans.
To show our commitment towards our country’s sustainability efforts and the SG Green Plan 2030, Power Eco Add-on was conceived to encourage and ease Singaporeans in embarking on a journey towards building a greener home.
With its affordable yet flexible offering where customers can choose from different levels of green – 25%, 50%, 75% or 100% – and between Carbon Credits (CC) or Renewable Energy Certificates (REC) for their electricity plan, we hope to empower our customers to #gogreenyourway and make a difference for the environment.
We were truly heartened and encouraged by the response received within a month of the Power Eco Add-on’s launch. As we look towards the new year, we hope to continue being the catalyst towards inspiring individuals to opt for greener alternatives.
The Jolly season to be Green
Topping off these initiatives, we also encouraged Singaporeans to embark on a green journey with monthly giveaways on our social media platforms, with two exclusive giveaways for 2,000 Geneco customers on 11.11 and 12.12 in celebration of the year end #JollyGreen season.
In total, we have distributed over 6,000 eco-friendly lifestyle items that include Microgreen Kits, Sprout Plantable pencils, 100% recyclable foldable umbrellas, collapsible water bottles, reusable straws, grocery net bags and more.
Through these green giveaways, we aim to inspire everyone to make a meaningful change for our environment in the long-term.
2021 has truly been a fulfilling year for Geneco despite the continued uncertainty faced around the world.
These milestones could not have been achieved without your support and we’d like to thank each of our #ChangeMakerSG partners, communities and families for your confidence in us.
As we look ahead into 2022, let’s continue to #PowerTheChange for a greener and more sustainable future.
Before we end off, here’s a quick recap video on our green milestones for 2021:
From our Geneco family to yours, here’s to a greener and better 2022!
Renewable Energy Certificates Explained
[Post date]
Renewable Energy Certificates Explained
What is Renewable Energy?
Renewable Energy might be a term you have come across if you have been on the lookout on getting your own green electricity plans for your home. What exactly is it, and how does it help the environment? Let us break it down on what it means, to help you better understand and assess it.
Currently, fossil fuels — coal, oil and natural gas, still account for over 80% of the world’s primary energy consumption. The burning of fossil fuels releases large amounts of carbon dioxide and other greenhouse gases, trapping heat in our atmosphere and making fossil fuels the biggest driver of climate change and global warming.
Renewable Energy, on the other hand, do not emit greenhouse gases during generation. It is produced from natural resources that are constantly replaced and never run out, such as solar, wind, hydro, and geothermal energy.
What are Renewable Energy Certificates (RECs) and how do they work
Renewable Energy Certificates, known as RECs, are market-based instruments that endorse units of electricity generated by renewable energy sources. Each REC represents the clean energy attributes of one megawatt-hour (MWh) of renewable electricity. For instance, if a solar power facility generates 1 MWh of electricity which flows into a power grid, 1 REC would be credited to them which they can choose to keep or sell it.
Because electricity enters our main power grid from many different sources ranging from solar to natural gas, there is no way to know exactly what energy source your electricity comes from. As such, RECs are put in place to serve as an accounting, tracking and assigning ownership mechanism for green energies as they flow into the power grid.
RECs are also internationally recognised for meeting renewable energy commitments and within frameworks such as RE100, Climate Disclosure Project (CDP), LEED, Greenhouse Gas Protocol. Renewable energy generation facilities are only eligible to receive RECs for each unit of electricity generated if they comply and are registered under internationally recognised standards, such as the I-REC standard.
After purchasing RECs, you can rightfully claim that 1 MWh of your electricity use came from a renewable source upon its ‘retirement’. An REC can no longer be sold again once it is retired, meaning no one else can claim that unit of renewable generation.
Difference between Renewable Energy Certificates and Carbon Credits
Individuals and organisations working towards their respective sustainability goals have various options when it comes to choosing how to lower their carbon footprints. These include activities that reduce emissions, energy efficiency measurements or switching to clean energy solutions. Recognising the difference between options such as RECs and Carbon Credits can help identify the best methods in achieving the respective goals while charting towards a greener future.
While both RECs and Carbon Credits help to lower the carbon footprints, they are different tools used for different purposes in achieving this greener goal. The key difference between the tools, is the purpose and mechanics behind it.
Carbon Credits helps to offset greenhouse gas emissions by supporting emissions reduction activities such as tree planting projects that remove these emissions from the atmosphere.
RECs offset electricity consumption from non-renewable sources. They support renewable electricity use claims and renewable energy development.
Renewable Energy Certificates landscape in Singapore
Renewable energy options are limited in a small, resource-constrained country like Singapore. There is a lack of water resources, our wind speeds and mean tidal range are low, and geothermal energy is not cost-effective. This leaves solar energy as the main source for renewable energy in Singapore. Even then, space constraints limit the number of solar installations that can be directly connected to consumers. As such, the adoption of RECs, particularly solar RECs for those who want to support local renewable energy, has become a more favorable option for businesses in Singapore in pursuit of sustainability goals and climate friendly policies.
To protect the interests of consumers, the Solar Energy Research Institute of Singapore (SERIS) has acted as the Qualified Reporting Entity (QRE) on the TIGRs (Tradable Instrument for Global Renewables) registry in Singapore since 2016. They validate the actual amount of clean energy generated by Singapore-based solar energy projects and then convert this into RECs before they are passed on to customers.
With Apple’s pioneering announcement in 2016 to adopt RECs in Singapore, DBS Bank and Microsoft have also declared their adoption of RECs in 2017 and 2018, respectively. Other businesses are forecasted to jump on the bandwagon as well.
Benefits of purchasing Renewable Energy Certificates
The purchase of RECs brings about many benefits for individuals and companies. They include
- Reducing your carbon footprint
- Leverage on clean energy without incurring the cost of solar panel installation
- Supporting the revenue and profitability of current renewable energy projects, which in turn encourages even more future investments in such projects, supporting market growth and evolution
- Demonstrating a company’s commitment to the environment with the adoption of renewable energy as part of one’s energy portfolio
How does Geneco support the RECs?
Geneco offers RECs from a variety of sources that advocate effective climate action and the UN Sustainable Development Goals. We can help individuals and companies assert green energy use by procuring, retiring and certifying RECs.
Borderless
Whether it is local or foreign RECs, it’s your call and we source.
Hassle-free
With Geneco’s large pool of RECs suppliers, your purchase requirement would be easily matched. Enjoy cost savings by leaving the time-consuming procurement & administrative process to us.
Purchasing RECs, however, is not equivalent to buying electricity.
Which is why, here at Geneco, we have also bundled the purchase of RECs with our green electricity solutions for your convenience. Start your sustainability journey with us today by choosing Geneco’s Renewable Energy solutions.
Going green just got easier with Geneco’s newly launched sustainable energy solutions – Which one should you choose?
27 April 2021
Going green just got easier with Geneco’s newly launched sustainable energy solutions – Which one should you choose?
Advocating for a more sustainable lifestyle for our customers has always been at the core of Geneco. Beyond our position as a leading electricity retailer in Singapore, we believe that we have the responsibility to do good for our future generations and to protect the environment.
In celebration of Geneco’s 3rd anniversary and Earth Day 2021, we recently held our inaugural Plant-A-Tree event at Windsor Nature Park as part of our commitment to National Parks Board’s #OneMillionTreesSG movement. Presiding over the event was our newly appointed Chief Executive Officer of Geneco – Mr Lim Han Kwang, alongside our ChangeMakers partners – The Food Bank Singapore, Comcrop, Cultivate Central, Refash, Repair Kopitiam and Green Nudge, and Standard Chartered Bank partner. Sharing the same vision of creating a better and cleaner tomorrow for the future generations, these like-minded organisations took time out for this event to do their part for an environmental cause.
From left: Shawn Cheo (Refash), Nichol Ng (The Food Bank Singapore), Genevieve Ng (Standard Chartered Bank), Lim Han Kwang (CEO, Geneco), Danny Lim (Repair Kopitiam), Nova Ceceliana Nelson (Cultivate Central) and Darren Tan (ComCrop).
Planting the first 50 of the 250 trees we have pledged for the next 5 years, this commitment also aligns our support for the nation’s SG Green Plan, as well as the continuous efforts to #PowerTheChange for a more sustainable and greener nation.
In his opening speech at the event to mark this special occasion on Earth Day 2021, Mr Lim also announced Geneco’s new comprehensive suite of sustainable energy solutions to ease and encourage customers to adopt an eco-friendlier lifestyle.
If you are kickstarting your eco journey and are overwhelmed by the multiple green energy options out there, here is a guide on our newly launched sustainable energy solutions for your home to consider.
Power Eco Total Home Solution
Customised renewable energy solution (solar panel installation with optional green electricity plan)
The Geneco Power Eco Total Home Solution provides solar panels installation for landed residential homes with optional add-on of any of our green electricity plans.
Available to both existing and non-existing Geneco customers, the solar panel installation service provides customers the opportunity to do good for the earth by adopting a 100% carbon neutral lifestyle, and also reduces up to 9,300 kg of carbon dioxide, which is equivalent to the annual CO2 absorption by 462 rain trees. Excess energy produced can also be sold back to the grid.
The benefits from this installation go a long way where households get to enjoy lower electricity cost, saving up to $4,600 on your electricity bills each year. What’s more, households even get to enjoy additional savings with up to $1,000 Geneco of bill rebates!
To ease the set-up cost of the solar panels’ installation, Geneco has partnered with Standard Chartered Bank to bring customers an exclusive promotion of up to $1,250 cashback with the approval for CashOne personal loan.
Power Eco Total Home Solution
- Offset up to 9,300kg of greenhouse gases
- Save up to $4,600 a year on electricity bills
- Enjoy up to $1,000 Geneco Bill Rebates
- Get up to $1,250 Cashback for Standard Chartered Bank CashOne personal loan
Complete your Power Eco Total Home Solution with any of the following green electricity plans below to go 100% eco-friendly.
If you are unable to install solar panels for your household, you can still do your part to offset your carbon footprint by signing up for a standalone eco plan for your residence. Furthermore, for a limited time only, Standard Chartered Bank credit card holders get to enjoy additional $35 bill rebate on top of prevailing promotions for new sign-ups with Geneco’s green plans when they set up recurring bill payment.
Get Sunny
100% solar energy plan
Solar energy has been touted as a key pillar in Singapore’s energy future with it gaining traction progressively. The ability of solar energy to reduce harm on the environment and the long-term benefits to our climate has garnered the attention of many consumers and organisations.
With Geneco’s Get Sunny electricity plan, it is a 100% renewable energy option that will be powered from Geneco’s parent company YTL PowerSeraya’s own solar photovoltaic (PV) system. This makes choosing a renewable energy plan a reality for residential households who would like to make the full commitment by choosing renewable energy but may not have the necessary infrastructure or resource to make it a reality.
If you are thinking of switching to a renewable solar energy plan, consider Geneco’s Get Sunny – where you will also receive a Renewable Energy Certificate, to pave positive impacts for the environment and #PowerTheChange.
Get It Green
100% carbon-neutral electricity plan
The definition of carbon-neutral electricity is to offset the amount of electricity generated from a person’s carbon footprint. This is executed through carbon credits which allows you to pay to reduce the carbon emissions that you have generated. Funds generated from the purchased credits are channelled to certified climate action projects. These projects reduce, remove or avoid greenhouse gas emissions and are a great way for any businesses, households or individuals to make a choice and help organisation to take immediate action.
Geneco’s Get It Green is a 100% carbon-neutral electricity plan that lets you do good for the earth even while consuming electricity at home for your daily needs. You will also receive Verified Carbon Units Certificate for making a simple yet conscious choice to offset your carbon footprints.
Here at Geneco, we understand that starting your eco journey might seem daunting, which is why we have launched this comprehensive suite of sustainable energy solutions to ease and encourage you to adopt a greener lifestyle.
The SG Green Plan 2030 has outlined the transformation we can expect for Singapore within the next decade as the nation furthers its green ambitions for a more sustainable future. With every kilowatt of energy consumed, make your usage count and #PowerTheChange with us today to secure a better environment for the future generations.
