LogicaCMG Launches Solution for Europe's Emissions Trading Scheme
Emissions Logic Enables Companies to Comply Confidently and Cost-Effectively With the European Union's Emissions Trading Scheme
LONDON, March 8 -- In order for companies to comply with the new European Union (EU) Emissions Trading Scheme (ETS) regulations, which come into effect on 1 January 2005, LogicaCMG, in partnership with CarbonSim, has launched a new emissions management solution, Emissions logic. This manages companies' compliance with the ETS by: tracking their CO2 emissions and compliance against obligations; evaluating strategies and projects for emissions reduction and generating internal and external reports.
The ETS regulation will impose prescribed targets for reducing carbon dioxide (CO2) emissions on companies from a variety of industries, from power generation to building materials production. The ETS will allow the trading of emissions allowances on an open market. Companies can choose whether to reduce emissions or purchase spare allowances, but if they are not fully prepared for this legislation they face unnecessary costs and even heavy fines that could run into millions of Euros.
To ensure that companies avoid these costs they must update their strategies, IT systems and processes to implement effective emissions management. Most companies' current systems and processes were not designed with the ETS in mind and as a result they will not be able to efficiently plan or execute emission reduction strategies and administration.
Craig Windram, CarbonSim's Chief Executive Officer, said: "Emissions logic makes good business sense, as well as good environmental sense. It will not only help companies to comply with the ETS, it will also help them save potentially millions of Euros each year by informing and improving enterprise- wide decision-making and by reducing the ongoing management, administration and audit costs they will face under the scheme."
The first phase of the ETS, which runs from 2005 to the end of 2007, covers organisations from the power generation, oil refining, steel, building materials, mineral product and pulp & paper industries. The second phase, which will run from 2008 to 2012, is likely to extend to a number of other industries including chemicals and transport.
LogicaCMG will be demonstrating Emissions logic at a number of events through 2004, including the Carbon Market Insight 2004 event in Amsterdam, 20- 21 April. To book an appointment to discuss the solution and the ETS with the company's attending executives please contact Pete Hendrick or Matt Harris at Band & Brown Communications on pete.hendrick@bbpr.com matt.harris@bbpr.com or +44 (0)20 7419 8612.
NOTES TO EDITORS About LogicaCMG
LogicaCMG is a major international force in IT services and wireless telecoms. It provides management and IT consultancy, systems integration and outsourcing services to clients across diverse markets including public sector, telecoms, financial services, energy and utilities, industry, distribution and transport. Formed in December 2002, through the merger of Logica and CMG, the company employs around 20,000 staff in offices across 34 countries and has nearly 40 years of experience in IT services. Headquartered in Europe, LogicaCMG is listed on both the London and Amsterdam stock exchanges (LSE: LOG; Euronext: LOG). More information is available from www.logicacmg.com
About CarbonSim
CarbonSim is a leading developer of emissions inventory and compliance management software solutions. The company comprises a team of environmental engineers, economists, commodity traders, IT developers and programmers, who together have more than forty years' experience in their respective fields. CarbonSim is part of the E3 group of companies that have developed around the emerging carbon trading market.
More information is available from www.carbonsim.com
We site: http://www.logicacmg.com
http://www.carbonsim.com
