White Certificates are an incentive mechanism in the field of energy efficiency in Italy. Officially known as 'Energy Efficiency Certificates' (TEE), they represent a system for measuring and verifying energy savings achieved through energy efficiency projects and the consequent right to sell or transfer these certificates on the market. Here is how White Certificates work: 1. Implementation of Energy Efficiency Projects: Companies, institutions or organisations implement energy efficiency projects aimed at reducing energy consumption. 2. Measurement and Verification: After the projects are implemented, independent measurements and verifications are carried out to determine the actual energy savings achieved. 3. Issuance of Securities: Based on the measured energy savings, corresponding White Certificates (TEE) are issued. Each TEE represents a specific amount of energy saved, usually expressed in MWh (megawatt hours). 4. Exchange and Sale: Holders of TEE may sell or transfer them to other entities that could use them to meet regulatory requirements or as an investment in energy efficiency. 5. Regulatory Compliance: Some entities, such as energy companies or regulators, may be required by law to demonstrate a certain number of TEEs as part of their energy efficiency obligations. 6. Economic Incentives: TEEs can have an economic value on the market and provide economic incentives to organisations that hold them, helping to cover part of the costs of energy efficiency projects. White Certificates are a tool that encourages organisations to invest in energy efficiency projects and demonstrate the results achieved in a transparent manner. This mechanism has been used in several countries, including Italy, to promote energy efficiency and reduce overall energy consumption.