The Polygon network on Tuesday announced its commitment to go carbon neutral and climate positive this year by releasing its “Green Manifesto: A Smart Contract with Planet Earth”. They also made a $ 20 million commitment to offset their carbon footprint, and to purchase additional credits to eventually become carbon negative.
The Green Manifesto Unveiled – A Smart Contract With Planet Earth! Https: //t.co/p9DFtUG9XP [1/2] pic.twitter.com/Xgn8jubffa
– Polygon (@ 0xPolygon) April 12, 2022
Part of the Ethereum scaling solution’s plan for a more sustainable future includes providing resources for ecosystem partners who also want to offset their carbon footprint. In addition, they hope to facilitate NGOs to make donations that go towards combating climate change.
According to the company, the Green Manifesto places freedom “as the center of the Web3 ethos” and climate change as the biggest threat to that freedom. Going carbon neutral means that every NFT minted, token bridged or DeFi trade made on Polygon is taken into account and the environmental impact is compensated. Their long-term vision is that the ecosystem will become the first blockchain to be what they call climate-positive.
Polygon is collaborating with KlimaDAO, an organization of developers that provides carbon compensation technology to the chain, such as Offsetra, which provides Polygon with an analysis tool that measures the network’s carbon intensity. By analyzing emissions from strike node hardware or bridge activities and the energy consumption of interaction with Ethereum Mainnet, they can better shape a management strategy.
Polygon also published an emissions analysis which found that 99% of Polygon’s emissions are due to control and bridging activities involving transactions on Ethereum Mainnet. Polygon reported a total network emission of 90,645 tons of CO2e from February 2021 – February 2022, among companies such as Microsoft and Deloitte.
Polygon recently raised $ 450 million in a financing round led by Sequoia and other major blockchain venture funds to expand its scaling solutions, which include Polygon PoS, Polygon Edge and Polygon Avail. According to Polygon’s co-founder Sandeep Nailwal, these scalability and sustainability initiatives are part of its overall strategy to stimulate the mainstream adoption of Web3 applications.