Broadridge Collaboration with CCRI Expands ClearFi Platform, Adding Crypto Sustainability Data
Rhea-AI Summary
Broadridge Financial Solutions (NYSE: BR) has announced a strategic collaboration with the Crypto Carbon Ratings Institute (CCRI) to enhance its ClearFi platform with crypto sustainability data. The partnership aims to help European financial companies meet new regulatory requirements under the EU's Markets in Crypto-Assets (MiCA) framework.
The integrated platform combines CCRI's sustainability data with Broadridge's ClearFi digital asset information system, enabling Crypto-Asset Service Providers (CASPs) to comply with MiCA regulations, which take effect December 30, 2024. The solution will help companies generate required whitepapers and present sustainability metrics for their crypto assets.
The collaboration also positions clients to address upcoming regulatory changes, including California's corporate climate disclosure requirements that encompass crypto-related activities in value chain emissions reporting.
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Comprehensive solution for clients required to disclose sustainability metrics and generate whitepapers as per EU MiCA regulation
"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," said Rob Krugman, Chief Digital Officer at Broadridge. "Working with CCRI, we are helping the financial services industry meet critical regulatory requirement and drive more informed investment decisions for all market participants."
The EU's MiCA framework represents a groundbreaking regulatory approach, designed to stabilize financial markets, protect investors, and usher in a new era of transparency in the crypto sector. MiCA requires Crypto-Asset Service Providers (CASPs), including exchanges, brokers and custody providers operating in the EU 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. The combined dataset enabled through this partnership will enable Broadridge to assist CASPs in satisfying these regulations immediately. The new MiCA rules begin to go into effect on December 30, 2024.
"This collaboration is a significant milestone, providing companies with the data and tools to comply with regulatory frameworks including the requirements for sustainability disclosures," said Christian Stoll, Chief Executive Officer at CCRI. This 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 emissions related to digital assets that asset managers or corporations hold or trade.
As regulatory efforts expand, for instance,
About Crypto Carbon Ratings Institute
CCRI – Crypto Carbon Ratings Institute – is a research-driven company providing data on sustainability aspects of cryptocurrencies, blockchain and other technologies. The interdisciplinary team has built a multi-year research track record with a specific focus on cryptocurrencies and their sustainability impacts. CCRI uses the most up-to-date data sources as well as methods based on formerly peer-reviewed studies published in renowned scientific journals. CCRI provides insights that help their clients to understand and manage crypto-related environmental impact exposure. For more information, please visit: https://carbon-ratings.com/
About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than
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SOURCE Broadridge Financial Solutions, Inc.