Press Center

APX Market Standards Accepted by SWIFT for Carbon Markets

New Communications Standards for Environmental Projects and Financial Instruments

Hoboken, NJ - September 9, 2009 - APX Inc., the leading infrastructure provider for environmental and energy markets, today announced two new communications and messaging standards for global environmental markets, the APX Universal Project Number™ (APX UPN) and the APX Environmental Instrument Number™ (APX EIN). The APX UPN provides a globally distinct identifier for carbon and renewable energy projects, while the APX EIN uniquely identifies tradable environmental instruments, including carbon credits, emission allowances, and renewable energy credits. The standards are supported by SWIFT (Society for Worldwide Interbank Financial Telecommunication), the leader in standards and messaging for the financial services industry.

“With the growth in voluntary and compliance carbon markets around the globe, companies will need to connect and exchange information reliably to trade project-based carbon credits,“ said Brian Storms, Chairman and CEO, APX Inc. “As Congress acknowledges the importance of international offsets and allowances in US markets, we believe that the new identifiers are essential to standardize financial transactions in carbon and other environmental markets, and will serve to lower costs while increasing market confidence.”

“We appreciate APX’s leadership in these emerging environmental markets, and will support these new standards within the ISO 15022 Category 5 messages when used for the trading and settlement of carbon related instruments,” said Patrick Curtin, Director of Securities Initiatives at SWIFT. “Experience has shown that such messaging standards help to automate and standardize financial transactions, making them more secure and reliable while helping our clients eliminate inefficiencies from their operations.”

As voluntary and compliance carbon regimes proliferate and evolve to be distinct from the UNFCCC, there is a need for globally distinct project and instrument identifiers:

• Global voluntary markets with multiple standards continue to develop for credits from pre-CDM projects. The APX UPN and APX EIN will help ensure that such credits and forwards are not double sold and can be reliably tracked and transacted.
• The US Federal compliance program, as proposed under legislation currently before Congress, calls for up to 1.5 billion international project based offset credits. A mechanism to ensure global uniqueness of projects, related credits, and emission allowances will be required.

The standards will be available in Q4 2009, and will be deployed with APX’s new portfolio management, contracts, transaction, and risk management services (See the May 19 announcement of the APX Environmental Management Account™ and related services).

About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 8,500 banking organizations, securities institutions and corporate customers in more than 200 countries. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. For more information, visit www.swift.com

About APX Inc.
APX is the leading infrastructure provider for environmental and energy markets in renewable energy and greenhouse gases, including carbon commodities. APX business services include the APX Environmental Management Account™, a complete suite of solutions for environmental asset and risk management in the new carbon economy. More than 1300 global firms trust APX to create, track, manage, and retire environmental commodities across all renewable energy markets in North America and greenhouse gas markets worldwide, including The Gold Standard, Climate Action Reserve, and Voluntary Carbon Standard Association. APX also provides technology, strategic consulting, and expert operational services to assist wholesale power market participants reduce costs and improve performance in power scheduling, settlement, market operations, system operations support, and demand response programs. APX is a privately held company.

Contact:
Reiner Musier
APX Inc.
Chief Marketing Officer
617.699.0929 (mobile)
408.517.2177 (office)
rmusier@apx.com