Galaxy is committed to responsible Environmental, Social, and Governance (“ESG”) practices as we build our global business and help shape a new economic paradigm.
Our continued commitment to ESG best practices anchors our ability to offer long-term value creation and growth that optimizes returns for our valued shareholders.
Galaxy is a young company in growth mode, operating at the forefront of the digital assets ecosystem. As a leader in the space, Galaxy is committed to developing this new frontier in a sustainable manner that prioritizes the issues that matter most to our business and stakeholders, while focusing on areas that have the greatest impact.
Manage and improve our environmental and carbon footprint by integrating sustainable practices and increasing the use of sustainable energy across our operations.
Foster a diverse, equitable and inclusive culture and ensure our employees are inspired by our mission.
Establish strong corporate governance to maintain a culture of integrity, all while creating value for all our stakeholders.
ESG Program Oversight
Our Board of Directors is actively engaged in the oversight of Galaxy’s ESG program. Our Compensation, Corporate Governance and Nominating (CGN) Committee oversees Galaxy’s ESG framework, strategy, and objectives and, along with the broader Board, is informed on key ESG-program initiatives and updates through Board meetings and annual reports from the ESG Steering Committee. Our ESG Steering Committee is comprised of senior executives across business lines and regions and is charged with ensuring the effective implementation and oversight of the Company’s ESG strategy at the business level. Our ESG strategy is developed and executed by Galaxy’s Investor Relations team, who regularly meet to review and evolve the Company’s ESG strategy for the benefit of all our stakeholders.
Corporate governance documents and policies are publicly available on investor.galaxy.com.
On a biennial basis, Galaxy conducts an ESG materiality assessment to deepen our understanding of the ESG-related topics that matter most to our stakeholders. Our last materiality assessment was conducted in 2021, and included the steps as listed below. The results of the ESG materiality assessment help shape our ESG program strategy, prioritize our focus, and ensure that our reporting is aligned with addressing the ESG issues of greatest importance to our stakeholders.
We reviewed ESG frameworks, standards, raters, and our peers to understand the current ESG landscape and identified potential material ESG topics.
We refined a list of potentially material ESG topics, which were categorized as relevant to Environmental, Social, or Governance issues.
We explored each material ESG topic in detail to understand its relevance to our business and our stakeholders.
We engaged key stakeholders to receive feedback on material ESG topics, including subject-matter experts, employees, and external stakeholders. After gathering feedback, the results were plotted on a graph to create an ESG Materiality Matrix.
The ESG Materiality Matrix was reviewed by the ESG Working Group and Steering Committee and approved by the Board of Directors.
Galaxy is committed to conducting our business based on a strong ESG framework that prioritizes responsible environmental practices, as we engineer a new economic paradigm in a sustainable manner.
Galaxy’s Bitcoin Mining business is committed to achieving its long-term goal of expanding its use of sustainable energy, which we believe will help drive down our marginal cost of production, while also indirectly helping decarbonize our Scope 2 greenhouse gas (GHG) emissions. Galaxy's headquarters in New York City holds a LEED Gold Certification and WELL Health Safety Ratings and is equipped with EnergyStar and WaterSense fixtures that help minimize our energy and water intensity. Our team in Chicago recently moved to a new office that holds a LEED Gold Certification and our Hong Kong office holds a LEED Silver Certification and achieved an excellent rating in accordance with the Hong Kong Building Environmental Assessment Method. Additionally, we have established paper, plastic, and electronic waste reduction strategies, alongside our wide-scale recycling efforts and composting program at our New York office, to better manage natural resources.
We are a dynamic team united by our passion for empowering investors and creators to drive positive change in the global economy. Our commitment to Diversity, Equity, and Inclusion (DEI) is deeply ingrained in our corporate ethos, reflecting our core principles, culture, and business philosophy. Oversight of our DEI strategy lies with our Board of Directors and the ESG Steering Committee.
Our DEI strategy embraces a comprehensive approach that encompasses both top-down and bottom-up initiatives. We acknowledge that diversity is not merely a social responsibility but also a strategic imperative, essential for achieving our goals and delivering value to all stakeholders. Diverse perspectives not only safeguard against groupthink but also unlock the full spectrum of talent, fortifying our problem-solving capabilities, organizational resilience, and innovation potential. This holistic framework provides a clear and strategic direction for our ongoing DEI endeavors.
Galaxy is committed to managing and mitigating risk. We approach risk management as an essential business process that is integrated throughout our company. We conduct mandatory annual Compliance, Anti-Money Laundering, Know Your Customer, Market Manipulation, and Cybersecurity training for all employees.
Mitigating information security risks in a constantly evolving environment is fundamental to our ability to run our business and serve our clients. We utilize advanced technology and employ a comprehensive risk-based information security program aligned to best-practice industry security and compliance frameworks. Our disciplined approach to risk management positions us to continue to grow our business and create value for our shareholders and stakeholders.