Binance’s Australian subsidiary has announced that in addition to trade and exchange, it would begin reporting on Environmental, Social, and Governance (ESG) metrics using a universal framework defined by the World Economic Forum.
Binance Australia has become the first crypto exchange platform in the world to simultaneously report on ESG issues while continuing to trade and exchange.
1/6 We are excited to announce that @Binance_AUS has taken a huge step forward and become the world’s first Digital Currency Exchange to commence reporting on Environmental, Social, and Governance (ESG) metrics, under a universal framework developed by the World Economic Forum.
— Binance Australia 🇦🇺 (@Binance_AUS) December 9, 2021
The announcement was made public by Binance Australia’s official Twitter handle, which stated that it is past time to solve the biggest roadblock to the decentralised industry’s growth.
Leigh Travers, the Chief Executive Officer of Binance Australia, claimed that “negative comments and misinformation focused on carbon emissions” has been dragging down the decentralized industry for a long time.
Despite the industry’s attempts to promote innovation and technical development for economies around the world, he argued that malevolent headlines disseminate misinformation, causing a negative market mood.
Nonetheless, Binance’s exclusive attempt to become an ESG entity will focus on making the ESG footprint of organizations in the digital asset industry more transparent.
“One of the biggest headwinds the digital asset industry has faced is negative commentary and misinformation based on carbon emissions from the sector. The industry is led by people and organisations determined to have a positive impact on society and the negative headlines have triggered a lack of education and awareness of ESG conscious crypto businesses,” said Leigh Travers.