Principles of transparency and verifiability central to the ethos of Web3 are a natural fit for emissions reporting, and Web3 projects have the potential to make sustainability claims more rigorous, timely and accurate. The crypto industry can learn a lot from existing standards in the ICT industry and vice versa,” says Mulligan. “Emerging regulatory requirements that come into force in Europe in 2024 will demand that companies are able to report on both impact materiality alongside existing financial materiality. Written by the World Economic Forum’s Evin Cheikosman and Catherine Mulligan, the report draws on insights from leading consulting firms like PwC and Deloitte, as well as academic experts at the Open University of the Netherlands and the Cambridge Center for Alternative Finance.

(Photo by Valeria Mongelli / AFP) (Photo by VALERIA MONGELLI/AFP via Getty Images) AFP via Getty ImagesĪ new Insight Report by the Crypto Impact and Sustainability Accelerator emphasized the role that blockchain technology could play in a sustainable power system, and how the crypto industry can continue to reduce its emissions. The Bitcoin machines in turn are powered by solar energy. A Dutch flower growing business is using Bitcoin mining machines to warm their greenhouse in order to grow tulips and other flowers for the export market.

bitcoin engineer and owner of Bitcoin Brabant, walks among growing tulips in a greenhouse heated with bitcoin miners near Amsterdam. Many individual crypto mining operations adopt advanced sustainability practices.

Silverstack report path