The collaboration is intended to yield a solution to help firms meet the E.U.’s MiCA regulations.
A collaboration between Broadridge Financial Solutions and the Crypto Carbon Ratings Institute (CCRI), a provider of sustainability data on digital assets, is slated to deliver an integrated communications, data, and disclosure generation platform intended to help European exchanges, brokers, and asset managers meet new sustainability reporting requirements, officials say.
The integration brings together CCRI’s sustainability data with Broadridge’s ClearFI digital asset information and disclosure platform to help financial services firms comply with the European Union’s Markets in Crypto-Assets (MiCA) regulations, officials say. The new MiCA rules were in effect as of Dec. 30, 2024.
CCRI describes itself as “a research-driven company providing data on sustainability aspects of cryptocurrencies, blockchain, and other technologies.”
The partnership “will also extend to asset managers and corporations that will need to comply with upcoming changes to accounting rules that require the consideration of GHG [greenhouse gas] emissions related to digital assets that asset managers or corporations hold or trade,” according to the announcement.
“As global regulators define new rules and standards to mature the digital asset and crypto industry the ClearFi solution continues to expand to assist clients’ compliance needs,” says Rob Krugman, chief digital officer (CDO) at Broadridge, in a prepared statement.
The EU’s MiCA framework “requires Crypto-Asset Service Providers (CASPs) … operating in the E.U. to present their customers with sustainability metrics in addition to generating and filing whitepapers with member states for each of the assets enabled on their platforms,” according to the announcement. “The combined dataset enabled through this partnership will enable Broadridge to assist CASPs in satisfying these regulations immediately.”
The Broadridge-CCRI partnership positions clients to navigate developments elsewhere such as in California, which is launching “corporate climate disclosure requirements that extend to value chain (scope 3) emissions, including crypto-related activities, reflecting a broader global emphasis on sustainability in digital markets,” officials add. “The platform anticipates California’s upcoming corporate carbon reporting requirements, offering a forward-looking solution for asset managers and corporations operating in global markets.”
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