The Polygon network released its “Green Manifesto: A Smart Contract with Planet Earth” on Tuesday, announcing their intention to becoming carbon neutral and climate positive this year. They also pledged $20 million to offset their carbon footprints and purchase additional credits in order to become carbon negative in the future.
— Polygon (@0xPolygon) April 12, 2022
Providing resources for ecosystem partners that want to offset their carbon footprint is part of the Ethereum scaling solution’s strategy for a more sustainable future. They also seek to make it easier for non-governmental organizations (NGOs) to make donations to fight climate difficulties.
The Green Manifesto, according to the firm, places freedom “at the heart of the Web3 ethos,” with climate change as the greatest threat to that liberty. Every nonfungible token (NFT) produced, token bridged, or decentralized finance (DeFi) transaction made on Polygon will be accounted for and its environmental impact will be offset. Their long-term goal is for the ecosystem to become the first “climate positive” blockchain.
Polygon is working with KlimaDAO, a developer-led group that delivers on-chain carbon offsetting technology, as well as Offsetra, which provides Polygon with a carbon intensity measurement tool. They can better build a management strategy by studying emissions from staking node hardware or bridging activities, as well as energy consumption from connecting with Ethereum Mainnet.
Polygon also released an emission analysis that found that 99% of Polygon’s emissions were due to checkpoints and bridging activities involving transactions on the Ethereum mainnet. Polygon reported total network emissions of 90,645 tonnes of CO2e from February 2021 to February 2022 among companies, including Microsoft and Deloitte.
Polygon recently raised $ 450 million in Sequoialed’s funding round and other major blockchain venture funds to expand scaling solutions such as Polygon PoS, Polygon Edge and Polygon Avail. According to Polygon co-founder Sandeep Nailwal, these scalability and sustainability initiatives are part of the overall strategy to drive mainstream adoption of Web3 applications.
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