Open Source Solutions, a division of Misys plc (FTSE:MSY.L), today announced a new carbon management trading solution, the Misys Environmental Trading Platform (METP), to help organisations prepare for the UK's Carbon Reduction Commitment Energy Efficiency Scheme - a mandatory emissions reduction scheme expected to affect about 5,000 non-energy intensive private and public organisations that account for ten percent of the country's carbon emissions.
Beginning in April 2010, the CRC will require these organisations to report emissions data and from 2013 will be required to reduce emissions year-on-year as part of a UK-wide initiative to reduce carbon emissions by 80% by 2050. According to John Winn, Senior Solutions Manager of Misys Open Source Solutions, "The Misys Environmental Trading Platform is designed to help organisations quickly comply by providing data collection, carbon planning, and liability calculation."
Green 2020 Limited, a UK-based environmental and energy consulting firm that specialises in energy data management and optimising supply chains to implement and manage cost-effective carbon reduction programmes, has partnered with Misys on their go-to-market strategy. Most recently, Misys and Green 2020 signed an exclusive agreement that will enable Green 2020 to distribute METP to the UK public sector.
"Misys will provide organisations with complete management autonomy over their unique trading and compliance liabilities because their platform automates the trading process, which has most commonly been done by using paper spreadsheets," said Charles Kee, Green 2020's Chief Executive Officer. "Organisations will discover many carbon calculators and spreadsheet-based trading tools in their search for the right technology, but none that have a dynamic trading mechanism that interfaces with their energy management systems and carbon footprint calculators, such as Green 2020's web-based system Carbonalysis."
The Misys Environmental Trading Platform can also be used to trade carbon in the open markets, including the European Union - Emission Trading Scheme (EU- ETS). "METP facilitates extensive and accurate data capture and provides the verifier with full access and transparency to their trades, an asset for aircraft companies during the monitoring, reporting and verification process for the EU-ETS," said Shaun Bainbridge, Director at CICS, a world leader in carbon verification and certification services.
This new invention by Misys is not surprising, given the company's well-known and lengthy history of developing trading platforms for its Treasury & Capital Markets division-as well as its presence in the world's top 50 banks.
"We released the environmental trading platform this summer and already we're gaining significant momentum," said Bob Barthelmes, Executive Vice President and General Manager of Misys Open Source Solutions. "We are looking forward to debuting the platform at the United Nations Climate Change Conference in Copenhagen this December, alongside The Climate Registry."
In September, Misys announced a partnership with The Climate Registry to develop the next generation of online emissions reporting, due in early 2010, and together both companies will work to design and build the Commonwealth of Massachusetts mandatory emissions reporting programme.