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3rd Party: 11 Nov 2024
Hub71 startup, Greengage, a digital finance pioneer serving entrepreneurs, SMEs, family offices and digital asset firms with e-money solutions and B2B lending, has joined the Abu Dhabi Sustainable Finance Declaration to help promote a sustainable digital assets sector in Abu Dhabi.
Greengage will bring its expertise and insights from its pioneering work on blockchain and ESG alignment to collaborate with fellow signatories to advance energy-efficient and renewable-focused initiatives. The company will focus on increasing transparency in digital assets to ensure verifiable sustainable practices, fostering trust, and supporting ESG compliance and sustainable regulation and policy.
Sean Kiernan, CEO of Greengage, commented, “We are proud to join the Abu Dhabi Sustainable Finance Declaration, alongside esteemed signatories like our partners at Zumo. Our commitment to long-term client relationships aligns seamlessly with sustainable business practices, reflecting Greengage’s brand mission to promote ‘green’ growth and environmental responsibility, with a clear focus on sustainability as our core ‘gage’ for collateral.”
Leveraging blockchain technology, the Hub71-based startup aims to drive efficiencies in carbon markets and offer SME clients access to carbon credit opportunities for meeting Scope 3 targets while supporting initiatives that make the industry, particularly bitcoin mining, more energy-efficient through advanced technology and investments in clean energy cryptocurrencies. Greengage is also dedicated to increasing transparency to ensure that sustainable practices in digital assets are real and verifiable, which will help build trust and ensure ESG compliance. To date, Greengage supports the Blue Carbon Gold project, which tokenizes blue carbon initiatives that capture carbon in coastal ecosystems, such as UAE mangroves, which are high impact assets.
The Abu Dhabi Sustainable Finance Declaration, is a voluntary, membership-based initiative launched by Abu Dhabi Global Market (ADGM) and endorsed by the Ministry of Climate Change and Environment, the Central Bank, and the Securities and Commodities Authority. Over 135 organisations, including Greengage, have signed the declaration, committing to integrate ESG considerations into their business models, products, and investments.
Although non-binding, the declaration connects members with ESG stakeholders in Abu Dhabi and supports the creation of a vibrant sustainable finance hub for capital formation, raising, and deployment.
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