Zumo, a leading B2B digital assets infrastructure provider, has officially signed the Abu Dhabi Sustainable Finance Declaration, signaling its dedication to promoting sustainable practices within the financial services sector as it expands its presence in the Middle East.
The Abu Dhabi Sustainable Finance Declaration is a voluntary initiative launched by Abu Dhabi Global Market (ADGM) in 2019. It has the backing of key UAE authorities, including the Ministry of Climate Change and Environment, the Central Bank of the UAE, and the Securities and Commodities Authority. The initiative aims to cultivate a robust sustainable finance industry in alignment with the UAE’s Green Economy for Sustainable Development initiative, reflecting the nation’s goal to become a model for the global green economy. The Declaration initially garnered support from 25 public and private entities and continues to grow.
By joining the Declaration, Zumo commits to collaborating with other signatories to develop a comprehensive framework that integrates green and sustainable investments. Zumo’s involvement will be informed by its innovative work in the sustainability domain, where it has been a trailblazer in leveraging blockchain technology for climate action.
Zumo has already made significant strides in this area as a member of the World Economic Forum’s Crypto Sustainability Coalition. The company has been exploring how blockchain can be utilized to advance global climate goals. One of its key innovations is the Oxygen solution, the first of its kind, which uses blockchain technology and market instruments like renewable energy certificates (RECs) and carbon removals. This solution enables financial institutions to measure, mitigate, and report the carbon footprint of their digital asset activities.
Zumo’s commitment to sustainability is further demonstrated by its collaboration with Jacobi Asset Management to align Europe’s first spot Bitcoin ETF with net-zero principles. Zumo is now partnering with financial institutions across Europe and the UAE to support their sustainability efforts.
The company’s leadership in this field is underscored by its co-founding of the Emerging Technologies Sustainability Taskforce (ETST). The ETST was established in recognition of the convergence of traditional accounting, sustainability standards, and technical standards. Its mission is to ensure that the unique characteristics of emerging technologies like blockchain are adequately reflected in the global sustainability standards applied to the digital assets sector.
Nick Jones, Founder and CEO of Zumo, commented, “The UAE is rapidly emerging as a significant crypto hub, thanks to the Emirati leadership’s proactive approach and the region’s welcoming regulatory environment. It is also working hard to become a hub for green technologies, which is something we’re very passionate about.”
He added, “Sustainability now sits high on the world’s corporate agenda, and we’ve seen the regulator in Europe, ESMA, introduce ESG disclosures for crypto-asset providers and token issuers through its MiCA framework. As we expand into the UAE, we look forward to working with industry stakeholders to share our knowledge and help to drive a sustainable digital assets sector in the Middle East.”
Other signatories of the Abu Dhabi Sustainable Finance Declaration include key institutions such as the Central Bank of the UAE, the Abu Dhabi Securities Exchange, Deloitte, and several leading global banks, including First Abu Dhabi Bank, BNP Paribas, Citibank, HSBC, ING Bank, Macquarie, and UniCredit.
