German crypto and digital asset manager, Deutsche Digital Assets, offsets the carbon footprint of DDA Physical Bitcoin ETP through project-based carbon credits supporting impact-oriented projects that have been tested and certified by renowned climate and nature conservation groups.
Dominik Poiger, Chief Product Officer at DDA
According to the transaction-based methodology, developed by the Frankfurt School Blockchain Center (FSBC), the DDA Physical Bitcoin ETP generated a carbon footprint of approximately 90 tonnes of carbon dioxide equivalent (tCO2eq) for the period from 1 July 2021 to 31 December 2023. DDA offsets DDA Physical Bitcoin ETP’s ongoing carbon footprint on an ongoing basis helping investors achieve their sustainability goals.
“While we believe that bitcoin is net-positive for ESG and that bitcoin mining will become greener in the future, we also acknowledge that – in some jurisdictions – the energy mix can be improved. With that in mind, we have launched our initiative to periodically calculate our bitcoin product’s carbon footprint. Consequently, we are offsetting this footprint through project-based carbon credits.” says Dominik Poiger, Chief Product Officer at DDA.
intas.tech, in collaboration with the Frankfurt School Blockchain Center, is applying the Bitcoin Carbon Neutrality Investment Standard (BCNISTM), periodically recalculating the CO2 footprint for Deutsche Digital Assets so these emissions may be offset in the long term. This is accomplished through the purchase of CO2 certificates supporting impact-oriented projects that have been tested and certified by renowned climate and nature conservation groups.
“We are pleased to work with Deutsche Digital Assets to lead the way for CO2 neutrality in the crypto space. Based on our scientifically proven calculation model (BCNISTM), Bitcoin may become more accessible to environmentally conscious investors. In general, the model is intended to apply to companies that offer financial products on Bitcoin (i.e., ETPs or funds) and thus have to disclose ESG-related information in the future for regulatory reasons (Sustainable Finance Disclosure Regulation).’’ says Benjamin Schaub, CDO at intas.tech.
Together with CTX Carbon Exchange, a leading global spot trading platform for voluntary carbon credit, DDA has offset 100 tonnes of carbon dioxide equivalent (tCO2eq) by permanently removing (“retiring”) the carbon credits from circulation.
With the carbon offsetting initiative for DDA Physical Bitcoin ETP, Deutsche Digital Assets is further establishing itself as one of the most innovative crypto and digital asset managers providing investors with sustainable and climate-smart exposure to Bitcoin.
Source : ETFWorld.co.uk
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