COP28: Ethereum pre-Merge carbon emissions estimated to be 27.5m metric tonnes

finextra.com:

This research, announced at COP28 at two events, reveal that Ethereum has historically created 27.5 million metric tonnes of carbon dioxide equivalents (MtCO2e), highlighting the impact of crypto asset technology on sustainability and how technology can be used to help countries access funding for their Nationally Determined Contributions.

A nationally determined contribution (NDC) or intended nationally determined contribution (INDC) is a non-binding national plan highlighting climate change mitigation, including climate-related targets for greenhouse gas (GHG) emission reductions.

The ECP, founded by Allinfra and Consensys, also recently welcomed Earthshot prize winner Boomitra as a new partner committed to mitigating one million tonnes of CO₂, which was a first step in addressing the historical carbon footprint of Ethereum. Over the next few years, the ECP will be facilitating investment to address this historical footprint and leveraging its digital toolset and vast network of carbon market experts and corporations.

Anna Lerner, executive director of the ECP said: “This trailblazing research gives us all a wake-up call when it comes to demonstrating how to decarbonise a vastly impactful technology - and how we can put it to work for climate finance. We started the ECP to counteract the historical emissions of Ethereum and now, we have a valid, specific quantitative figure to work with. We call on every business using blockchain to take accountability, commit to using more sustainable methods, and redress the carbon emissions that they have created.”

Bill Kentrup, co-founder and head of origination at Allinfra, added: “These findings mark a significant step forward and allow us to comprehend the magnitude of positive