Euroclear announced a strategic investment in Greenomy, a Belgium based sustainable finance technology platform. Financial terms of the transaction were not disclosed.
Founded in 2020, Greenomy helps corporates, credit institutions and asset managers comply with new European Union sustainable finance legislation by digitalizing the data capturing and reporting process. The company also provides data analytics features to help improve sustainability performance and facilitate the redirection of funds towards sustainable activities, in line with the objectives of the EU Green Deal. Greenomy will also gradually integrate other non-EU Green Taxonomies to offer users a one-stop solution for their global operations.
From a business line perspective, the ESG data from issuers captured by the platform will also provide the opportunity to support the asset manager segment’s reporting needs including Euroclear’s FundSettle, MFEX and iETF clients. Greenomy’s ambition is to become a global user-owned ESG market infrastructure adopting a neutral and scalable utility across multiple jurisdictions.
Alexander Stevens, CEO of Greenomy, said in a statement: “Together with Euroclear and future partners, we aim to bridge the gap between existing and new ESG taxonomies and standards, offering a new global market infrastructure, supporting both issuers and financial institutions in their sustainability strategy. This will ultimately help real economies transition faster towards a truly sustainable future.”
Lieve Mostrey, CEO of Euroclear Group, said in a statement: “Greenomy has a strong and compelling ESG value proposition with its unique market position, data model and an end to end platform which connects issuers, banks and investors. This is a truly complementary partnership that enhances the services and products of both companies.”