The Crypto Climate Accord – an alliance of different entities in the crypto sector that aims to make the energy consumption of cryptocurrencies carbon-free – has launched a project to decarbonise the energy consumption of cryptocurrencies by 2025. Their goal is to make the cryptocurrency sector based exclusively on renewable energy in record time.
The Crypto Climate Accord agreement want to reduce the energy consumption of cryptocurrencies. It is inspired by the Paris Agreement on climate, and aims to bring together the cryptographic and financial technology industry to build a sustainable future, with the support of the Climate Champions of the United Nations Framework Convention on Climate Change (UNFCCC). The project aims to work in collaboration with the cryptocurrency industry, including all blockchains, to reach the exclusive consumption of renewable energy by 2025.
The Agreement will use a “big tent” approach and will act as a coordination framework to decarbonise all aspects of the sector. Energy Web, AIR and RMI have also developed three high-level goals for the Agreement, to be finalized ahead of the UN COP 26 Climate Conference, later this year, to allow all blockchains to be powered by sources. 100% renewable by the 2025 UNFCCC COP conference, develop an open source accounting standard to measure cryptocurrency industry emissions and achieve net zero emissions for the entire cryptocurrency industry, including all operations, by 2040.
We can certainly appoint that at the management level a mineable blockchain – like Bitcoin – presents more problems, in this sense, than a project with a token or an unminable coin. Up to now, more than 20 companies and individuals have signed up to the Agreement, including: Acciona, Allinfra, Circulor, CoinShares, Compass Mining, ConsenSys, C02ken, D-REC Initiative, Decarbbitcoin Labs, Energy Web, Engie, Exaion (EDF), Global Blockchain Business Council, GSR, Hut 8 Mining, I-REC Standard, PTT , RECDeFi, Ripple, Singapore Power Group, South Pole, Streambed Media, Tom Steyer, UNFCCC Climate Champions, Web3 Foundation and XRP Ledger Foundation.
