Pledge launches carbon offset program for Earth Day 

Pledge, the innovative fundraising platform that simplifies crypto donations for non-profits via PledgeCrypto, has launched a unique, patent-pending carbon offset initiative in honour of Earth Day tomorrow, Invezz learned from a press release. Every crypto transaction made through the platform will support verified carbon offset projects. 

Partnership with Three Squares

PledgeCrypto partnered with award-winning environmental consulting firm Three Squares Inc. to carry out a cryptocurrency environmental impact assessment. The goal is to quantify the carbon emissions of cryptocurrency transactions made on the PledgeCrypto platform. 

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James Citron, CEO of Pledge said:

At Pledge, we fundamentally believe that unlocking crypto donations will provide an abundant new source of funding for non-profits around the globe, but the process needs to be done in a sustainable way. Inspired by our core values of care and community, we wanted to respond to environmental concerns about crypto, which is why we are proud to lead with the first-of-its-kind patent-pending invention to ensure that every crypto transaction through Pledge will support UN-verified projects. This ensures that PledgeCrypto will not only be the most accessible way for donors to donate their digital assets and for non-profits to receive them, but also in the most environmentally conscious way in the industry.

Pledge to cover carbon footprint of each donation

The assessment covered eight of the most popular cryptocurrencies and quantified the emissions associated with a single transaction. As a result, Pledge estimates that every 100 donations will generate approximately 2.6 tons of carbon dioxide (CO2) emissions.

To make up for this environmental impact, Pledge will cover 100% of the carbon footprint of each donation transaction to donors or non-profits through PledgeCrypto at no extra cost.

Carbon offset projects, sourced from the United Nations Climate Neutral Now Initiative, will support the Burgos Wind Project and Cooking Stoves in Malawi.

Jaime Nack, President of Three Squares Inc. added:

PledgeCrypto is demonstrating true environmental leadership in the cryptocurrency industry. By commissioning a thorough study to understand the carbon emissions of crypto transactions and showing transparency by pledging to compensate for 100% of those emissions, they are helping define what sustainability looks like for the new and rapidly growing industry.

Pledge is tracking every cryptocurrency donation transaction, accounting for how Bitcoin, in particular, has the highest emissions per transaction. The platform will retire carbon credits on an annual basis and with view to total transactions and the environmental impact of the cryptocurrencies used.