Polygon claims that it has achieved carbon neutrality
Polygon asserts its environmental friendliness by retiring $400,000 in carbon credits via a partnership with KlimaDAO. These credits will be used to reduce the ecosystem’s overall contribution to global warming.
Polygon is an Ethereum expanding platform that is integrating millions of users into the Web3 network. Yesterday, the platform announced in a press statement that its network had achieved carbon neutrality.
The milestone was reached on the path to carbon neutrality. They want to do this by retiring permanently $400,000 in carbon credits. This is done to offset 104,794 tonnes of greenhouse gas emissions. The gas has been released since the blockchain’s inception.
In April, Polygon issued its Green Manifesto and pledged $20 million for Web3-based efforts that develop innovative solutions for on-chain carbon credit retirement.
The site states, “Blockchain technology makes carbon offsetting exceptionally effective, since carbon credits of any quantity may be retired in full transparency. Entities may acquire carbon offsets, access real-time market data, and expedite the transfer of money to carbon initiatives with significant global effects. By balancing the past emissions of the whole network, Polygon has assured that the environmental effect of every transaction — whether the minting of an NFT or a DeFi transfer — is accounted for and compensated.”
Polygon asserts that it is environmentally friendly: in collaboration with KlimaDAO, the Polygon ecosystem has retired $400,000 in carbon credits to mitigate greenhouse gas emissions.
Polygon asserts that a relationship with KlimaDAO has allowed them to achieve success. This decentralised group of environmentalists, technologists, and entrepreneurs is generally regarded as a pioneer in the embryonic, on-chain carbon market. KlimaDAO has provided accessibility and openness to the hitherto opaque voluntary credit markets.”
KlimaDAO and Offsetra studied the energy footprint of the network. “The scope of the investigation included emissions from staking node hardware, the energy usage of staking activities, and contracts communicating directly with the Ethereum mainnet. Additionally, Polygon collaborates with the Crypto Carbon Ratings Institute (CCRI) to evaluate its carbon impact. Afterwards, Polygon acquired $400,000 worth of tokenized credits from the on-chain carbon market and retired them through KlimaDAO’s offset aggregation tool. All BCT and MCO2 tokenized credits were generated from Verified Carbon Standard-certified offsets.”