The infrastructure and connectivity provider BSO has reportedly formed a strategic partnership with Geneva-based ImpactScope, a social enterprise providing carbon offsetting solutions to digital asset exchanges and crypto mining companies, in order to offer cryptocurrency-trading clients the means to calculate and offset the excess carbon emissions of their operations.
The criticism towards the energy consumption and carbon footprint of cryptocurrencies has become more prevalent as this form of digital ledger gains notoriety. It’s a pressing challenge that many at the forefront of the industry are working hard to remedy. For example, the European Union has recently outlined the Sustainable Finance Disclosure Regulation (SFDR), which sets out to ensure that EU investors are making investment choices that align with their sustainability (ESG) goals. The new regulation is set to come into force in January 2022.
In light of such developments, many investors are becoming increasingly interested in cultivating additions to their portfolio that not only deliver promising returns, but that also deliver on social and environmental responsibilities.
It was in this spirit that a new partnership between BSO and ImpactScope was formed. When utilising ImpactScope’s specific APIs, BSO’s customers can minimise the environmental impact of their crypto transactions in real-time and reduce their operational carbon footprints.
Speaking on the support that the partnership will offer to both sides of the table, BSO’s CEO Michael Ourabah remarked, “In light of recent reports highlighting the climate emergency we are facing, there is a sense of urgency in the industry to change for the better. By partnering with ImpactScope we are able to offer support to our clients in fighting climate change and help them make trading crypto more sustainable.”
BSO’s existing client base has full access to ImpactScope’s suite of solutions and can choose from a variety of geographically diverse offsets verified by Verra and Gold Standard; leading programmes for the certification of greenhouse gas emissions reduction projects. Other services offered through the partnership include crypto-related ESG reporting and carbon auditing of corporate treasuries for institutional investors holding crypto assets.
Adding to this, Gregg Betz, Co-founder of ImpactScope comments, “We welcome the opportunity to join together with BSO and give players in the crypto and digital assets arena the chance to meet their ESG goals; assessing and subsequently offsetting their crypto carbon footprints.
“The mission of ImpactScope is to help crypto stakeholders, be they exchanges, end-users, mining pools, or institutional investors, become greener, more sustainable, and more aware of the environmental consequences of their actions. BSO is a great partner for us and we look forward to serving and developing the market together.”
Continue reading: BSO expands into South America with 10 new data centre locations.