Crypto Caverns is proud to announce that we have just completed our pledge to offset double our annual scope 1, 2 and 3 carbon emissions.
One of the main concerns about cryptocurrencies and mining is their effect on the environment. That’s why we’re contributing to the fight against climate change, not working against it. Taking care of the environment is everyone’s business.
The most widely-used international gas accounting accounting tool, the Greenhouse Gas Protocol, categorizes greenhouse gas emissions into three groups, also known as “scopes.”
According to the National Grid, Scope 1 and 2 carbon emissions are emissions that are owned or controlled by a company, while scope 3 emissions are a byproduct of the activities of the company, but happen from sources that aren’t owned or controlled by said company.
Scope 3 emissions include:
- Purchased goods and services
- Business travel
- Employee commuting
- Waste disposal
- Use of sold products
- Transportation and distribution
- Leased assets and franchises
As the Greenhouse Gas Protocol describes it: “Developing a full emissions inventory — incorporating Scope 1, Scope 2 and Scope 3 emissions — enables companies to understand their full value chain emissions and focus their efforts on the greatest reduction opportunities”. In total, 1009 Tonnes have been retired so far by Crypto Caverns.
We can thank our on-chain partner and climate action organization KlimaDAO. Through their Klima Infinity program, which helps organizations like Crypto Caverns become progressively climate positive by leveraging Web3 tokenized carbon assets and offsetting.
To complete our pledge — and moving forward — we are using verifiable, tree-based credits only to make a real impact.
We are looking at new ways to offset even more of our emissions and continue to make a difference against climate change. To stay up to date, join our newsletter here: