European Union: Bitcoin ETP seeks to mitigate its carbon footprint

ETC Group has announced that it will finance projects in order to achieve that its ETP (Exchange Traded Product) of Bitcoin reduces its carbon footprint, without affecting the price of the financial instrument, as reported by Criptonoticias.

The company, through a release, has indicated that high quality carbon credits will be acquired to cover carbon emissions associated with its operations. In addition, he specified that these carbon credits will serve as support for renewable energy projects, carbon sequestration, among others, to be developed by renowned climate and conservation groups.

What reason for this decision? Bradley Duke, executive director of ETC Group, has commented that Elon Musk's statements ―on Twitter―, in which he expressed his concern about the environmental impact of the use of Bitcoin and warned that he would stop accepting payments in this cryptocurrency, in case of carbon emissions were not reduced, they accelerated the making of this decision eco-friendly.

Likewise, this decision is attributed to the increasingly demanding nature of the European Union's environmental regulation, specifically, to the recently entered into force Sustainable Finance Disclosure Regulation (SFDR).

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Wendy Ticona
Bachelor of Law from the Universidad Nacional Mayor de San Marcos. He has experience in Corporate Law and the Securities Market. She works as an assistant professor of Commercial Law

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