Polygon claims to be sharp green: in cooperation with climadawthe Polygon Ecosystem has retired $400,000 in carbon credits to offset greenhouse gas emissions.
This milestone is on the way to becoming carbon negative. They plan to do this by permanently retiring $400,000 in carbon credits. This is in an effort to offset 104,794 tons of greenhouse gases. Gas has been around since the beginnings of blockchain.
Polygon released his own green statement In April, it pledged $20 million to initiatives that use Web3 to find new solutions to on-chain carbon credits.
The platform says, “Blockchain technology makes carbon offset uniquely powerful, as carbon credits can be withdrawn at any size with complete transparency. Entities can purchase carbon offsets, view real-time market data, and accelerate the provision of financing for high-impact carbon projects around the world.” By offsetting the historical emissions of the entire network, Polygon ensures that every transaction – whether it’s NFT rails or… DeFi Trade – it is accounted for and its environmental impact offset.”
Polygon and Climadao
Polygon says they achieved their goal thanks to the collaboration with KlimaDAO. “This is a decentralized group of environmentalists, developers and entrepreneurs widely recognized as a leader in the emerging on-chain carbon market. KlimaDAO has brought transparency and access to opaque voluntary credit markets.”
KlimaDAO and Offsetra analyzed the energy footprint of the network. “The Analysis scope Covering emissions from storage node Hardware, power consumption for storage operations, and nodes that interact directly with the Ethereum mainnet. Polygon also works withCoded carbon classifications CCRI Carbon Footprint Audit Institute. Polygon then purchased $400,000 in token credits across the on-chain carbon market and retired using KlimaDAO’s offset collector. All premium BCT and MCO2 credits are created from certified offsets under the Certified Carbon Standard.”
Polygon has also worked with KlimaDAO to support other projects:
Bull Run Forest Conservation Project in Belize, which protects pine forests
Ghana’s Solar Project, a 500MW renewable electricity project in India
Wind power project in Gibehm, India
-Moss.Earth, which funds Amazon’s maintenance with its MCO2 token.
Sandeep Nailwal is the co-founder of Polygon. “Our world is facing an environmental crisis, and the blockchain industry must do much more than just promise to stop increasing the problem. Achieving carbon neutrality is an important first step, but there is still much work to be done. Polygon will lead the way as the entire industry moves forward. towards becoming a net positive for the environment.”
Polygon will host the Green Blockchain Summit on July 13The tenth. It is a virtual forum for Web3 leaders to solve the problems facing the blockchain industry.
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