- Crypto.com Partners with Climeworks to Reduce Carbon Footprint and Advance Carbon Removal Technologies
- Leading Cryptocurrency Platform Takes Major Step Towards Sustainability with Collaboration
- Cryptocurrency Industry Leader Sets New Standard for Sustainability with Carbon Capture Partnership
Crypto.com, a cryptocurrency platform with over 70 million customers, announced that it collaborates with Climeworks, a company specializing in carbon dioxide removal via direct air capture technology. This partnership is intended to reduce Crypto.com’s carbon footprint and aligns with the company’s commitment to investing in new technology that can effectively remove carbon dioxide from the atmosphere.
The collaboration is a sector-leading move among cryptocurrency platforms, and Crypto.com is dedicated to addressing the pressing climate challenge and continuously furthering its efforts. Climeworks is a Swiss company known for its carbon dioxide air capture technology. Other top companies like Microsoft, Stripe, and Shopify have also bought future carbon removal services from it.
Crypto.com’s collaboration with Climeworks is part of a more significant trend in the cryptocurrency industry towards greater sustainability. Ethereum, for example, transitioned to the Proof-of-Stake consensus mechanism in 2020 to reduce its energy consumption and become more environmentally friendly. Other projects in the industry are also taking similar steps to reduce their carbon footprint.
Crypto.com’s partnership with Climeworks involves an eight-year carbon removal agreement. The company will work with Climeworks to neutralize its direct carbon emissions through direct air capture technology. Climeworks is a Swiss company known for its innovative approach to carbon removal and has also worked with other top companies such as Microsoft, Stripe, and Shopify.
The collaboration will not only help Crypto.com to reduce its carbon footprint, but it will also support the scaling of carbon removal technology. This is critical for achieving global net zero emissions, as carbon removal must be scaled to gigaton capacity by mid-century. Companies like Crypto.com are contributing to scaling such solutions by committing to technological carbon removal today.
Crypto.com Saving the Planet
In addition to the partnership with Climeworks, Crypto.com has also been actively engaged in other sustainability initiatives. For example, the company has been working to assess and measure its carbon footprint thoroughly, engaging with various carbon removal providers, policymakers, and commercial partners to determine the most effective ways to remove residual emissions. Crypto.com also recognizes the importance of reducing its indirect value chain emissions, also known as scope three emissions, and is actively exploring ways to reduce these emissions through initiatives such as using renewable energy sources, increasing energy efficiency, and implementing more sustainable business practices.
It’s also worth noting that Crypto.com’s efforts to reduce its carbon footprint align with the broader trend of companies and organizations prioritizing sustainability and taking action to combat climate change. The Paris Agreement, adopted in 2015, established the goal of keeping global warming well below 2 degrees Celsius and pursuing efforts to limit warming to 1.5 degrees Celsius. To achieve this goal, companies and organizations need to take action to reduce their greenhouse gas emissions and invest in carbon removal technologies.
Another critical aspect of Crypto.com’s sustainability efforts is its focus on transparency and reporting. The company is committed to regularly reporting on its progress toward achieving its climate goals and is transparent about its actions to reduce its carbon footprint. This allows customers, stakeholders, and the general public to understand the company’s sustainability efforts and hold it accountable for its actions.
Overall, Crypto.com’s collaboration with Climeworks and its other sustainability initiatives demonstrate the company’s commitment to addressing the pressing climate challenge and reducing its carbon footprint. As the cryptocurrency industry continues to grow and evolve, companies like Crypto.com need to prioritize sustainability and take steps to reduce their environmental impact. This not only helps to protect the planet but also helps to build trust and establish long-term relationships with customers, stakeholders, and the broader public.
Crypto.com’s collaboration with Climeworks is an essential step towards a more sustainable future for the cryptocurrency industry. The partnership is driven by Crypto.com’s commitment to investing in new technology that can reduce carbon dioxide in the atmosphere and is aligned with the company’s goal of addressing the pressing climate challenge. This partnership is a sector-leading move among cryptocurrency platforms. It is expected to help advance the impact of carbon removal technologies and forge a more sustainable path for the entire industry.