The Polygon network released its “Green Manifesto: A Smart Contract with Planet Earth” on Tuesday, announcing its intention to become carbon neutral and climate positive this year.
Polygon network also pledged $20 million to offset their carbon footprints and purchase additional credits in order to become carbon negative in the future.
Providing resources for ecosystem partners that want to offset their carbon footprint is part of the Ethereum scaling solution’s strategy for a more sustainable future. They also seek to make it easier for non-governmental organizations (NGOs) to make donations to fight climate change.
The Green Manifesto, according to the firm, places freedom “at the heart of the Web3 ethos,” with climate change as the greatest threat to that liberty.
Every NFT produced, token bridged, or DeFi exchange made on Polygon will be accounted for, and its environmental impact will be compensated. Their long-term goal is for the ecosystem to become the first blockchain to be “climate positive.”
Polygon, KlimaDAO, Offsetra work on the carbon-neutral plan
Polygon is working with KlimaDAO, a developer-led group that delivers on-chain carbon offsetting technology, as well as Offsetra, which provides Polygon with a carbon intensity measurement tool.
They can better build a management strategy by studying emissions from staking node hardware or bridging activities, as well as energy consumption from connecting with Ethereum Mainnet.
Polygon also released an emissions analysis, which revealed that checkpointing and bridging activities involving Ethereum Mainnet transactions account for 99 percent of Polygon’s emissions.
Polygon reported total network emissions of 90,645 tonnes CO2e between February 2021 and February 2022, citing Microsoft and Deloitte as examples.
Polygon recently raised $450 million in a funding round led by Sequoia Capital and other major blockchain venture capital firms to extend its scaling solutions, which include Polygon PoS, Polygon Edge, and Polygon Avail.
These scalability and sustainability measures, according to Polygon co-founder Sandeep Nailwal, are part of the company’s wider plan to promote the widespread adoption of Web3 apps.
