Crypto giant Galaxy Digital Holdings (OTCPK:BRPHF) is following the lead of a growing number of companies in adopting ESG (Environment, Social and Governance) practices.

Galaxy Digital is an asset management firm operating in the digital asset, cryptocurrency, and blockchain technology industry.

Galaxy Digital has established an ESG program, the first in the crypto industry. The program covers issues such as energy consumption and employment practices.

The fundamental principles of Galaxy’s Sustainability Program and Strategy are “Environment, Social and Governance”. The program covers issues such as energy consumption, corporate governance strategy, and employment fair practices.

Environment

Galaxy Digital is committed to actively managing and improving its environmental and carbon footprint. The company aims to do this by integrating sustainable practices into its global operations and increasing the use of sustainable energy throughout the company, with a particular focus on mining.

The program builds on its previously announced commitment to achieve a sustainable energy mix of more than 80% across all mining operations within a three-year target. In Q3 2021, Galaxy Digital Mining used electricity with a sustainable electricity mix of over 80%.

Social

Galaxy operates in an innovative and dynamic industry. Indeed, the company remains focused on fostering a diverse, fair, and inclusive environment for its employees, stakeholders, customers, and communities.

Governance

Galaxy Digital has a structured corporate governance approach in place. The approach drives the sustainability agenda and strategy forward as well as provides strong oversight.

Management Commentary

Galaxy Digital Founder and CEO Mike Novogratz said, “We strive to drive systems change through technology, and as we continue to scale our business globally, we are committed to operating firmwide consistently with environmental, social, and governance (ESG) best practices.

Galaxy Digital recently completed its first ESG materiality assessment. The goal is to identify and prioritize priority areas, shape program strategy, and ensure future reports address ESG matters of utmost importance. In addition, the results of the assessment will be evaluated on an ongoing basis. The company’s first sustainability report will be published in the second half of 2022.