Pledge becomes the first platform to take a

VENICE, CA, April 21, 2022 (GLOBE NEWSWIRE) — Pledge, the innovative fundraising platform that simplifies crypto donations for nonprofits via PledgeCrypto, now introduces its unique, patent-pending carbon offset initiative where every crypto transaction made through Pledge will support verified carbon offset projects.

The mining process related to how cryptocurrency is recorded on the blockchain uses significant energy and contributes to global carbon emissions. As a result, PledgeCrypto was inspired to commission award-winning environmental consultancy, Three Squares Inc, to conduct a cryptocurrency environmental impact assessment to quantify the carbon emissions of cryptocurrency transactions conducted on the PledgeCrypto platform.

“At Pledge, we fundamentally believe that unlocking crypto donations will provide an abundant new source of funding for nonprofits around the world, but the process must be done in a sustainable way,” said James Citron, CEO of Pledge. . “Inspired by our core values ​​of care and community, we wanted to address environmental concerns about crypto, which is why we’re proud to lead with the first patent-pending invention to ensure that every crypto transaction through Pledge will support projects unverified This ensures that PledgeCrypto will not only be the most accessible way for donors to donate their digital assets and for nonprofits to receive them, but also in the most environmentally friendly way in the world. ‘industry.

Eight of the most widely used cryptocurrencies have been thoroughly evaluated to quantify the emissions associated with a single transaction. This in-depth analysis took into account the estimated total energy of the cryptocurrency, combined with recent published trading volumes. A weighted electricity emissions factor was derived based on the regional distribution of transaction locations around the world. Multiple datasets were also used to ensure optimal data integrity. While final emissions will vary depending on energy used, location and currency donated, Pledge estimates that around 100 donations will generate around 2.6 tonnes of carbon dioxide (CO2) emissions. To offset this environmental impact, Pledge will cover 100% of the carbon footprint of each donation transaction at no additional cost to donors or nonprofits using PledgeCrypto.

The carbon offset projects, originating from the UN’s Climate Neutral Now initiative, will support the Burgos wind project and cookstoves in Malawi.

“PledgeCrypto demonstrates true environmental leadership in the cryptocurrency industry,” said Jaime Nack, President of Three Squares Inc., “By commissioning an in-depth study to understand the carbon emissions of crypto transactions and by Showing transparency by committing to offset 100% of those emissions, they help define what sustainability looks like for the rapidly growing new industry.

Pledge tracks every cryptocurrency donation transaction, taking into account how Bitcoin, in particular, has the highest emissions per transaction and will withdraw carbon credits on an annual basis based on the total number of transactions and the environmental impact of the crypto-currencies used.

For more information about PledgeCrypto and the environmental impact of cryptocurrency transactions, visit today.

About Commitment
Pledge is the world’s most trusted and innovative fundraising platform. Integrated with an impressive network of over 2 million verified nonprofits, Pledge empowers individuals, charities and brands to drive donations toward positive impact. Through fundraisers, cryptocurrencies and Zoom virtual events, Pledge makes good a shareable experience. Visit and do your #PledgeToDoGood.

All product and company names mentioned herein may be trademarks of their registered owners.


Comments are closed.