Zodia Custody has announced plans to become a net-zero company by 2050, as a signatory of the taskforce for leading tech companies fighting climate change, Tech Zero.
With over 300 tech companies already among the signatories, Zodia Custody is reportedly the first digital asset custodian “to make a commitment in the race to net-zero.”
As part of signing up to Tech Zero, Zodia Custody is “committing to annual reporting of scope 1, 2 and 3 emissions; to have publicly disclosed its plans to reach net-zero within the next 12 months; and to appoint a member of the executive team to be responsible for progress.”
Further, Zodia Custody will also “meaningfully communicate climate commitments and progress to net zero on its website, to the Board, and customers.”
Specific steps the company will take “to achieve this include setting a short and long term ESG agenda, supplier sustainability assessments, incentives for green clients and implementing a carbon offsetting strategy in line with the Science Based Targets initiative.”
Zodia Custody is already “undertaking ESG initiatives proactively, including recycling office waste and technology equipment, and implementing policies to achieve a carbon neutral office, which compliments the spirit of the new pledge.”
Julian Sawyer, CEO of Zodia Custody, said:
“In being the first digital asset custodian to take this step, we hope to show our peers in digital assets that there is a way forward, and thanks to Tech Zero, we can do so as a collective. In digital assets especially, there’s a lot of work to be done, and that presents a massive opportunity for us to take accountability, take control, and take the lead in becoming more climate conscious while remaining competitive. With the help and expertise of our new network at Tech Zero, we can do exactly that.”
Sophia Kesteven, Tech Zero’s General Manager, stated:
“We’re really happy to have Zodia Custody on board as a Tech Zero member, it is an important milestone. The digital asset industry is a growing space that faces unique challenges. It’s vital that companies like Zodia turn their attention to net zero targets and see that net zero is ambitious but still achievable, even for tech companies in the crypto space. Zodia Custody is joining us and the wider tech industry in our fight against climate change and growing our network of climate-focused tech leaders.”
Tech Zero was founded by innovative British tech firms allplants, Babylon, Bulb, Citymapper, Faculty, GoCardless, Habito, Hopin, Moneysupermarket Group, OLIO, Onfido, Revolut, Starling Bank, Tech Nation, what3words and Wise.
As noted in the update, Zodia Custody claims it is “the leading institution-first digital asset custodian by Standard Chartered, in association with Northern Trust.”
It enables institutional investors around the globe “to realize the full potential of the digital asset future – simply, safely, and without compromise.”
Through the combination of leading technology, custody, governance and compliance, Zodia Custody “satisfies the complex needs of institutional investors.”
The company “is AMLD5 compliant and applies the same standards as Standard Chartered relating to AML, FCC, and KYC.”
It is “also FATF Travel Rule-compliant.”
Zodia Custody Limited is “registered in the UK with the FCA as a crypto asset business under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. Zodia Custody (Ireland) Limited is registered with the Central Bank of Ireland as a VASP under Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended).”
Zodia Custody (Ireland) Limited was “established in Ireland in August 2021. Zodia Custody Limited is registered with the CSSF in Luxembourg as a Virtual Asset Service Provider in accordance with article 7-1 (2) of the law dated 12 November 2004 on the fight against money laundering and terrorist financing, as amended.”