The mission of 3Degrees is to connect people with cleaner energy on a massive scale.
The company realizes this mission by partnering with utilities to offer green power options to 25 million customers and providing renewable energy certificates (RECs) and carbon offsets to Fortune 500® companies, green building firms, utilities, and other organizations committed to sustainability.
RECs and carbon offsets provide organizations with an environmental market-based mechanism for supporting green power and greenhouse gas emission reduction projects and for mitigating the environmental impact of their energy use. By meeting and increasing demand for RECs and carbon offsets, 3Degrees helps these organizations reward renewable energy and greenhouse gas emission reduction projects for the environmental benefits associated with their projects.
More than fifty environmental markets exist in the U.S. and around the world today. These environmental markets have proven that they can and do work, and can be very effective in the effort to reduce greenhouse gas emissions and encourage renewable energy development.
- The U.S. SOx and NOx market has dramatically reduced acid rain in the U.S. at a cost much lower than predicted, leading The Economist to name it “probably the greatest green success story” of the 1990s.
- In states participating in the Regional Greenhouse Gas Initiative (RGGI) cap-and-trade program, average annual carbon dioxide emissions from 2008 to 2011 fell by 23 percent compared to emission levels for the prior three year period, before the start of the program.
- According to a 2011 report from the National Renewable Energy Laboratory (NREL), from 2007 to 2010 renewable energy capacity serving the voluntary green power market increased two-fold.
However, for environmental markets to work, buyers and sellers of RECs and carbon offsets need to understand how they can use them to build stakeholder value. And, that is what 3Degrees enables its partners to do.