Libryo Pledges Commitment To Growing Renewable Energy Sector
Renewable energy suppliers currently produce more than 20 per cent of the UK's electricity and EU targets mean that this is likely to increase to 30 percent in the next year. With this substantial growth, coupled with the ever-changing legislation, ensuring compliance will prove an ongoing challenge to businesses operating in the energy sector.
Founded by a group of international lawyers and software specialists, Libryo is an automated, cloud-based platform that helps organisations understand which laws apply to their business across every jurisdiction. With so many legislative changes in the energy generation sector, Libryo has set out its commitment to assist renewable energy businesses to ensure compliance in what is a complex and challenging area of the law.
With the decentralisation of the energy market, different methods of generation have differing legislation and regulations. Legacy legislation is becoming increasingly outdated by the shift in methods of energy generation and whilst legislation is driving change at a fast rate, the legal knowledge to accompany this is poor. The consequences for breach of most environmental laws is prosecution of an individual or company by the relevant regulator in the criminal courts, varying from fines right up to prison time for key personnel.
Malcolm Gray, CFO and co-founder of Libryo, said: “Law is poorly organised, changes regularly, is not searchable and written in complicated phrases. Our aim is to make it easier for new entrants to the energy market, as well as the more established suppliers, to understand, and adhere to, the laws that are relevant to their organisation.
“Libryo makes it easier to know the law by filtering, configuring and tracking unique site-specific legal registers, enabling our clients to quickly navigate regulatory complexity with clarity and certainty.”
Founded in 2016, Libryo currently helps 130 organisations and more than 9,000 users with their legal compliance by filtering all laws and delivering only the regulations that are relevant to that business.