Breaking: Binance Australia Becomes First-Ever Crypto Exchange to Start ESG Reportage

By Sunil Sharma
December 9, 2021 Updated December 9, 2021
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Binance gains Dubai License

The world’s largest crypto exchange, Binance’s Australian arm has extended its reached beyond trade and exchange, and has announced that it will also begin reportage on Environmental, Social, and Governance (ESG) metrics, under a universal framework developed by the World Economic Forum. This has made Binance Australia, the world’s first-ever crypto exchange platform to simultaneously report on ESG issues, while continuing its trade and exchange services.

Binance Australia’s official Twitter handle made the announcement public, noting that it is high time to address the biggest hurdle in way of decentralised industry’s growth. The Chief Executive Officer of Binance Australia, Leigh Travers argued that “negative commentary and misinformation based on carbon emissions” has weighed the decentralised industry down for a long time.

He claimed that despite the industry’s efforts to enhance innovative and technological development for economies across the world, malicious headlines spread misinformation, that trigger negative market sentiment. Nevertheless, with Binance’s exclusive initiative to become an ESG entity, it will focus on facilitating transparency of the ESG footprint of organisations in the digital asset industry.

“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.

Binance Experiences Exceptional Development Despite Centralisation News

Since Binance has opted to follow a centralised approach, given it had suffered the wrath of the regulators for a considerable timeframe, the crypto exchange is only climbing upwards. The crypto exchange has experienced global growth, from the announcement of establishing its Head Offices in France, to expanding business in Singapore despite exit speculations. Binance may be under oversight, but it has continued to display exceptional growth.

While maintaining a regulator-friendly strategy, Binance is driven by the decentralised system at its core. Binance CEO, CZ recently noted that Binance only seeks to establish in countries with a pro-crypto approach, despite agreeing to become centralised.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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