- Crypto.com has signed an eight-year carbon removal agreement with Climeworks.
- This will help to neutralize Crypto.com’s direct carbon emissions.
- Crypto.com recognizes the importance of prioritizing emissions reductions.
On January 16, Crypto.com stated that it will be partnering with Climeworks, an industry leader in carbon dioxide removal using direct air capture technology.
According to Crypto.com, this partnership with Climeworks is unprecedented in the cryptocurrency industry. Industry experts note that this is due to Crypto.com’s commitment to funding innovative, scalable solutions for reducing carbon emissions.
Crypto.com has been working with a number of carbon removal services, politicians, and its own commercial partners like Shopify to implement its climate commitments since 2021. This is part of the company’s effort to precisely quantify its carbon footprint and find the most efficient means through which it can eradicate any lingering emissions.
The exchange also notes that it has carefully considered what kind of removal provider they want to engage with and concluded that removing the direct carbon emissions using innovative technology such as direct air capture is the most impactful way forward.
Eric Anziani, President and Chief Operating Officer at Crypto.com stated;
“We are honored to collaborate with such a proven leader in Climeworks and look forward to not only removing our direct carbon emissions but also helping advance the impact of these invaluable carbon removal technologies and forging a more sustainable path for our entire industry.”
It is hence clear that Crypto.com recognizes the importance of prioritizing emissions reductions and is also ambitiously focused on advancing further sustainability and emissions reduction efforts. These include exploring residual and Scope 3 emissions (indirect value chain emissions, e.g., customer or merchant emissions) reduction initiatives.
Kris Marszalek, CEO of Crypto.com, adds that even in the current market, the firm considers it to be as important as ever to invest in innovative technologies that will make a positive impact on climate change across the ecosystem.
