International legal practice Osborne Clarke has assisted in the latest investment in Greenomy, a Belgium based sustainable finance technology platform. Euroclear, a Belgium-based global provider of Financial Market Infrastructure (FMI) services, is the investor. The investment was announced on 31 January 2022.
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. Greenomy’s ambition is to become a global user-owned ESG market infrastructure adopting a neutral and scalable utility across multiple jurisdictions.
In a recently published paper on sustainable finance released jointly by Euroclear and PwC, Euroclear elaborated on its pillars for encouraging greater sustainable finance, processing ESG information flows and expanding the market to more asset classes and participants. Euroclear’s investment in Greenomy supports all the pillars of this financial market infrastructure sustainable blueprint. Euroclear will now be able to bring non-financial reporting to its network, enabling a reduction of issuance barriers for sustainable finance. 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.
Osborne Clarke previously assisted Greenomy with its seed financing. The team in Brussels was led by Hadrien Chef and included Laurent De Pauw, Tonya Aelbrecht, Violette Keppenne, Shahine Kalantari, Karen Calvo Vleugels, Olivier Lambillon, Benjamin Docquir, Laurens Dauwe, Adélaïde Lonnoy, Margo Cornette, Thierry Vierin, Bernd De Marrez, Julien Verbeke, Marie Canivet and Louis Hoffreumon. Osborne Clarke understands that is a business imperative to engage with and respond positively to the global challenge of decarbonisation. To that end, Osborne Clarke has experts across service lines and sectors to support the many ways that clients can reach their decarbonisation goals. You can read more about Osborne Clarke's approach to decarbonisation and its larger strategy of understanding the drivers of transformation here.