BSO partners with ImpactScope to offer carbon offsetting for crypto traders
BSO, in partnership with Geneva-based ImpactScope, a social enterprise providing carbon offsetting solutions to digital asset exchanges and crypto mining companies, has become the first connectivity provider to offer clients that trade cryptocurrencies the means to calculate and offset the excess carbon emissions of their operations.
The criticism of cryptocurrencies’ energy consumption and its related carbon footprint is a major challenge for all players in the crypto space and is being addressed at both a corporate and regulatory level by mandates such as the European Union’s Sustainable Finance Disclosure Regulation (SFDR), which comes into force in January 2022. In line with these developments, investors have also been compelled in recent years to seek out additions to their portfolio that not only deliver great returns but are also more socially responsible. With ImpactScope’s unique APIs, BSO’s customers can minimise the environmental impact of their crypto transactions in real time and reduce their operational carbon footprints.
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, the world’s 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.
“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,” says Michael Ourabah, CEO of BSO.
Gregg Betz, Co-founder of ImpactScope, adds: “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."
ImpactScope’s carbon offsetting solutions are now available to all BSO customers worldwide.