Crypto Climate Accord Makes Significant Progress In Its Green Energy Push
the Crypto Climate Agreement (ACC) has attracted more members to its growing consortium, which aims to decarbonize the cryptocurrency and blockchain ecosystem. The CCA now has 40 supporters around the world, including bitcoin-related companies (BTC) and the World Economic Forum (WEF), just two weeks after its launch, according to an April 22, 2021 blog post.
Making Crypto Green
Like bitcoin (BTC), altcoins and blockchain technology adoption continue to gain momentum across the world, it is becoming increasingly important for the industry to adopt green energy solutions and contribute to the fight global campaign against climate change.
With the goal of shifting the global cryptocurrency space from carbon-emitting energy sources to 100% clean and renewable energy by 2030, Energy Web, RMI and the Alliance for Innovative Regulation (AIR) have joined forces with other stakeholders in the crypto industry including ConsenSys, Ripple and CoinShares, among others, to launch the Crypto Climate Alliance on April 8, 2021.
Fast forward to April 22, and the CCA has attracted more members to its consortium, including the World Economic Forum, the Libra Project and 3Degrees, Envision Digital, Foton, Mercados Electricos (MerElec) and XM, bringing the number of its members to 40.
Commenting on the CCA initiative, Sheila Warren, Executive Committee Member, World Economic Forum and Deputy Head of the C4IR Network noted:
“We are delighted to support this timely initiative and help the CCA adopt thoughtful and inclusive governance so that we can channel diverse perspectives on crypto into robust solutions. Along with the WEF, the CCA will be a vital part of the larger conversation about creating an environmentally and socially responsible crypto industry. “
Make it work
Notably, the CCA has defined three major steps to be taken to make decarbonization of the cryptospace a reality by 2030, which includes the creation of an “open source solutions toolbox” that will allow crypto holders to directly decarbonize their wallets, while also allowing crypto networks to decarbonize their processes from scratch.
That’s not all, CCA says it also aims to establish an “improved baseline for the use of renewable energies” in the crypto industry and define industry best practices. in line with global renewable energy and carbon standards.
Finally, the CCA indicates that it will put in place a “proof of progress” system that will allow stakeholders to more easily measure their progress towards achieving the consortium’s objectives.
Interestingly, some CCA members are already making significant progress towards the alliance’s decarbonization campaign. Energy Web, a nonprofit that claims to be dedicated to accelerating a low-carbon, customer-centric power system, has announced plans to roll out the first iteration of its green energy solution dubbed Energy Web Zero in the first quarter of 2022.
“We will help define and build open source solutions that meet the needs of the crypto industry and transform the ecosystem into a source of new demand for renewable energy,” said Walter Kok, CEO of Energy Web .
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