Polygon Is Going Carbon Negative in 2022 With a $20 Million Pledge

Today marks the start of a new, sustainable era for the Polygon ecosystem -- the core team has committed to eliminating all of the network’s carbon debt going back to inception and making the chain climate positive into the future.

Polygon’s Green Manifesto announced today is part of a broader vision for sustainable development that includes the plan to achieve carbon-negative status in 2022. Polygon is also creating a climate offset vertical within its ecosystem and has pledged $20 million to a series of community initiatives, including funding projects that utilize technology to combat climate change.

As the first step, Polygon is buying $400,000 worth of high-quality and traceable BCT and MCO2 carbon credits, the equivalent of roughly 90,000 tons of CO2 emissions. Polygon will then selectively retire the offsets within the carbon token pools that meet the highest standards for additionality and positive environmental impact.

Polygon is partnering with KlimaDAO, a decentralized collective of environmentalists, developers, and entrepreneurs, widely recognised as the most high-profile proponent of facilitating the nascent on-chain carbon market. Polygon will purchase the credits via KlimaDAO's on-chain carbon market, Klima Infinity, and retire them using its offset aggregator decentralized app.

All BCT and MCO2 tokenized credits were created from offsets certified under the Verified Carbon Standard, one of many independent standards endorsed by the International Carbon Reduction and Offset Alliance (ICROA), a key industry body setting best practices and ensuring environmental integrity within the voluntary carbon market.

KilmaDAO will also analyze Polygon network's energy footprint and support its emission management and mitigation strategy. The analysis will include emissions from staking node hardware, energy consumption of staking operations, and contracts directly interacting with Ethereum mainnet. Polygon has also commissioned the Crypto Carbon Ratings Institute (CCRI) to audit its carbon footprint.

Polygon's sustainability pledge comes ahead of Ethereum's transition to a Proof-of-Stake consensus mechanism, which will reduce the network's energy consumption by almost 99 percent. After Ethereum's transition to PoS and the completion of CCRI analysis, Polygon will move beyond carbon neutrality to attain the carbon negative status.

Polygon is already the leading scaling solution for Ethereum with a suite of products that includes Polygon PoS, Polygon Edge and Polygon Avail. The team is also investing in cutting-edge zero knowledge (ZK) technology that will be key to onboarding the next billion users to Web3. This commitment to sustainability also puts the team at the forefront of responsible blockchain development.

"Our outlined measures may eliminate the emissions of the Polygon ecosystem, but that's not enough to effect the kind of change needed to combat the climate crisis at scale," said Sandeep Nailwal, co-founder of Polygon. "Together with Polygon, the broader blockchain industry needs to form a united front to fund, support, and leverage technology that helps heal the earth, rather than destroy it."

Learn more about our sustainability activities here and tune into the blog for the latest news from Polygon.

Website | Twitter | Ecosystem Twitter | Developer Twitter | Studios Twitter | Telegram | Reddit | Discord | Instagram | Facebook | LinkedIn

More from the Polygon Blog
The Business Case for Blockchains Going Green

Nothing says “you have arrived” like people caring about your carbon footprint. Polygon has recently marked that milestone with a commitment to becoming carbon negative by the end of the year. Below is the case for why other projects should follow our lead and how to go about doing it. Ethereum’s smart contract blockchain has […]

Read More
Announcing Polygon Pod, a Podcast From the Epicenter of Web3

What’s the future of DeFi? How can blockchain projects shake the reputation for being bad for the environment? What in the world are zero knowledge proofs? How can Web3 attract and accommodate the next billion users? When Flippening? You want to know the answers and so do we. That’s why Polygon is launching Polygon Pod […]

Read More
Introducing Polygon Nightfall Mainnet: Decentralized Private Transactions for Enterprise

We’re in the early innings when it comes to enterprise needs for blockchains. Whether it’s supply chain management or marketplaces, the potential for secure business transactions on a public ledger has enormous implications. That’s why we’re pleased to announce Polygon Nightfall, a blockchain solution that leverages cutting edge Optimistic-Zero Knowledge technology to give businesses an […]

Read More
Introducing Polygon ID, Zero-Knowledge Identity for Web3

At Polygon, we believe that putting people firmly in control of their digital identities is at the core of Web3’s promise to empower users over networks. We have been working behind the scenes to fulfill this promise and today are proud to introduce Polygon ID, the self-sovereign, decentralized and private identity for the next iteration […]

Read More
Polygon Is Going Carbon Negative in 2022 With a $20 Million Pledge

Today marks the start of a new, sustainable era for the Polygon ecosystem -- the core team has committed to eliminating all of the network’s carbon debt going back to inception and making the chain climate positive into the future. Polygon’s Green Manifesto announced today is part of a broader vision for sustainable development that […]

Read More
Getting Started With MetaMask on Polygon

MetaMask is the most popular cryptocurrency wallet app and browser extension used to access the Web3 universe. In just a few simple steps, you can unlock this powerful tool and begin exploring the Polygon ecosystem.  There are more than 19,000 decentralized applications (dApps) running on Polygon. That list includes DeFi protocols like Aave and Uniswap […]

Read More
crossmenuchevron-down-circle