Our Mission & Sustainability Program Strategy

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. To this end, we are pleased to announce Galaxy Digital’s Sustainability Program. We look forward to sharing our first sustainability report in the second half of 2022 and will keep stakeholders updated throughout our program evolution.

Michael Novogratz Founder & Chief Executive Officer

Galaxy Digital is a young company in hyper-growth mode, operating at the forefront of a rapidly maturing industry, and our sustainability program is maturing alongside our business growth. Our sustainability program strategy prioritizes the issues that matter most to our business and stakeholders, focusing on areas that have the greatest impact.

Our sustainability program focuses on the following three key tenets:

Environmental
  • Managing and improving our environmental and carbon footprint by integrating sustainable practices into our global business and increasing the use of sustainable energy across the company, with a particular focus on our Mining business line.
Social
  • Fostering a diverse, equitable, and inclusive environment for our people, our stakeholders, our clients, and our communities.
Governance
  • Establishing strong corporate governance to maintain a culture of integrity and oversee a high-achieving sustainable business model, all while creating value for shareholders and stakeholders.

Corporate Governance & Sustainability Program Oversight

Sustainability is deeply rooted in Galaxy Digital’s business and is incorporated in our corporate governance structure.

We established a structured approach to advancing our sustainability program, with strong oversight by our Board of Directors and its Compensation, Corporate Governance and Nominating (“CGN”) Committee. The Board of Directors and its CGN Committee help establish and oversee our sustainability framework, strategy, and objectives. Our public company Board of Directors is comprised of seven directors, all of whom, with the exception of our Chief Executive Officer and Chairman, are independent.

The ESG Steering Committee, comprised of senior executives across our business lines and key functional areas, is responsible for program execution and continuous improvement of our ESG initiatives. Supporting our Steering Committee is a dedicated ESG Working Group, which implements the ESG directives and strategy.

Corporate Governance & Sustainability Program Oversight pyramid graph

Corporate governance documents and policies including the Board of Directors Mandate, Global Code of Conduct, Diversity Policy, and UK Modern Slavery Act Transparency Statement are publicly available on our Investor Relations website.

ESG Materiality Assessment

We completed our first ESG materiality assessment to identify prioritized focus areas that are instrumental to our long-term business strategy. Our materiality and prioritization assessment process included the following steps:

Graph showing the increasing importance of environmental, social and governance areas of focus from a Galaxy Digital perspective and external stakeholder perspective
  • Identify: We reviewed ESG frameworks, standards, raters, and our peers to understand the current ESG landscape and identified potential material ESG topics.
  • Categorize: We refined the long list of potential material ESG topics and categorized topics as relevant to Environmental, Social, or Governance.
  • Assess Impact: We explored each material ESG topic in detail to understand its relevance to our business and our stakeholders.
  • Gather Feedback: We engaged key stakeholders to receive feedback on the ESG material topics reported, including subject-matter experts, employees, and external stakeholders. After gathering feedback, the results were plotted on a graph to create an ESG Materiality Matrix.
  • Engage Management: The ESG Materiality Matrix was reviewed by the ESG Working Group and Steering Committee and approved by the Board of Directors.

The results of the ESG materiality assessment help shape our sustainability program strategy, prioritize our focus, and ensure that our future reporting is aligned with addressing the ESG issues of greatest importance. We will reevaluate these results on an on-going basis.

Environmental Sustainability

Bitcoin Mining

People & Culture

Risk Management & Cybersecurity

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