SunGard (NYSE: SDS) announced today that Shell Energy Trading Limited (Shell Trading) has licensed SunGard's ZaiNet Emissions Trading software to manage its global carbon dioxide emissions portfolio.
Shell Trading's Environmental Products group trades 15 environmental products globally and will use the ZaiNet European Union Emissions Trading Scheme (EU-ETS) module to manage its portfolio in compliance with the EU-ETS.
With the implementation of the EU-ETS on 1 January 2005, Shell Trading sought an efficient set of tools to help support its compliance and management of risks associated with the new regulations. Shell Trading chose the ZaiNet EU-ETS module to help maximize integration of emissions transactions with its existing database of energy trades. Shell Trading uses ZaiNet for its end-to-end transaction processing of trades, portfolio management and asset optimization, achieving straight-through processing of its energy based traded commodities.
John Moulton, general manager, Shell Energy Trading Limited, stated, "Our decision to implement SunGard's ZaiNet Emissions Trading solution was driven by our need to support the regulations for emissions trading across our environmental products portfolio." Mr. Moulton added, "Shell is committed to environmental responsibility. SunGard's experience with green energy and its early availability of an EU-ETS solution contributed to our decision to expand our use of this application set."
Matt Mandalinci, president of SunGard's energy solutions business unit, said that "Shell Energy Trading originally selected ZaiNet for its proven energy risk management, analytics and reporting tools. We expect that the EU emissions directive will draw many more players into the market for a comprehensive trading management system."
At the same time it licensed the ZaiNet EU-ETS functionality, Shell Trading also implemented the ZaiNet Renewables Obligation module. ZaiNet is used by green energy producers such as Ecotricity, the largest independent green energy supplier in Europe, as well as large energy producers like Shell Trading.