Crypto.com will have offset all of its direct carbon emissions upon completion.
Getting rid of its direct carbon emissions is a goal the firm is excited to achieve.
Cryptocurrency projects are beginning to focus on long-term viability. Since last year, when Ethereum made the switch to the PoS consensus method, it has become more eco-friendly and uses less energy.
There have been other industrial ventures moving in a similar fashion. A leading cryptocurrency exchange, Crypto.com has been dedicated to a greener future for a long time. The platform has taken another further step by signing a carbon renewal deal with Climeworks for a period of eight years. Upon completion of this new deal, Crypto.com will have offset all of its direct carbon emissions.
Addressing Climate Challenge
In contrast, Climeworks is a Swiss firm that specializes in capturing carbon dioxide from the air. Climeworks has apparently partnered with industry heavyweights Microsoft, Stripe, and Shopify to provide future carbon removal services.
Eric Anziani, CEO and President of Crypto.com stated:
“We are committed to addressing the pressing climate challenge and continuously furthering our efforts.”
Getting rid of its direct carbon emissions is a goal the firm is excited to achieve. Therefore, the aim still stands to contribute to the development of the effect of carbon removal technologies by laying the groundwork for a more sustainable route for the whole sector.
The platform made its climate pledge public for the first time in 2021. Since then, Crypto.com has collaborated with a number of carbon removal service providers, regulators, and business partners like Shopify to evaluate, quantify, and plan for cutting down on its remaining emissions.
CEO of Crypto.com Kris Marszalek stressed the need of a “collaborative” and “multi-sector” strategy. He emphasized the fact that the firm is still in its infancy.