Crypto sustainability and green solutions highlighted at COP26

Published at: Nov. 9, 2021

Cointelegraph’s Editor-in-Chief, Kristina Cornèr spoke at the United Nations Climate Change Conference, known as COP26, in Glasgow, Scotland, on Tuesday about the positive impact of the cryptocurrency ecosystem on environmental objectives.

Arriving in Scotland's second-largest city following panel hosting duties at Lisbon's Web Summit last week, Cornèr spoke on a wide range of topics ranging from establishing interoperable relationships between people and technology to the mining impact of Bitcoin (BTC).

Commenting on the disparity between the implementation of climate change initiatives between the traditional energy sectors and the crypto community, Cornèr argued that the emergence of new technology provides an opportunity to learn, stating:

“Decentralization is an alternative to campanilism, or as it’s known in the English language, parochialism. This is a local, small mindset versus a global vision of a decentralized world.”

Before she transitioned into the cryptocurrency space, Cornèr established an illustrious background working in the environment sector as a Communications Manager for the Union of French Entreprises for Energy Efficiency and Ecology and continued on to study international energy politics and green technologies as a Research Fellow at the ENERPO Center at the European University.

Discussing the often hypocritical tendencies at global conferences and summits to advocate for universal behavior change at the consumer level, instead of governmental or corporation-led action, she stated:

“The key to big historical shifts is not in completely changing or shifting, but in new synergy between people, technology and education.”

Related: How will blockchain technology help fight climate change? Experts answer

Non-profit environmental group, Germanwatch shared their latest iteration of their annual Climate Change Performance Index 2022. The expert panel of authors spoke to a global audience about the performance of 60 nations which account for 92% of the global emissions.

Offering her opinion on the misconceptions surrounding Bitcoin's mining activity, and the impact of tarnishing a nascent industry for its early flaws, instead of recognizing its future potential for energy efficiency, Cornèr stated:

"Of course there are pitfalls as there is with every new industry, but we are on the way to creating more green solutions. What is really important with the blockchain space is that people are ready to think with a new mindset and searching for the solutions and the climate change coalition is a great example of that.”

The Crypto Climate Accord is an environmentally-focused initiative collating over 150 firms from the crypto, blockchain, tech and energy industries who seek to establish a unified approach to supporting sustainability, as well as making pledges for net-carbon output by 2030. Notable participants include Consensys, Web3 Foundation, Ripple, Near Protocol and Pixl8, amongst others.

Concluding her speech, Cornèr shared a unifying message about the inherent value of humanity, amid the rise in technology, in securing the future prosperity of Earth's ecosystem:

“The crypto community is ambitious, daring and full of potential. Innovation is about synergy. It’s beyond technology and about people. It’s about us.”
Tags
Related Posts
Carbon-neutral Bitcoin funds gain traction as investors seek greener crypto
Bitcoin (BTC) has been a hot topic of discussion lately even for those outside the core crypto community, but unfortunately, it’s not for the best of reasons. In particular, the amount of energy required to mine Bitcoin has created concerns for investors who were considering BTC as an option to diversify. According to the Cambridge Center for Alternative Finance, Bitcoin currently consumes around 110 terawatt-hours per year. A Harvard Business Review article further noted that this equates to 0.55% of global electricity production, which is roughly equivalent to that of a small county. Although this is the case, it’s important …
Adoption / May 27, 2021
What lies ahead for crypto and blockchain in 2021? Experts answer
It would be fair to admit that after 2020 and all it has put us through, making any predictions for the upcoming year is most likely to be a game of blindfold. Meanwhile, I am certain that humanity has much to learn from its past transgressions, and will move forward by correcting our mistakes and weaknesses. That’s what we always do. Undoubtedly, the major driver of our development this year was the COVID-19 outbreak. The effects of the ongoing global pandemic on every aspect of our lives will form our future, and there are some tendencies we started last year …
Adoption / Jan. 4, 2021
Report: Bitcoin mining network accounts for 0.08% of world's CO2 production
In a new report published by CoinShares on Monday, the firm estimated that the Bitcoin (BTC) mining network emitted 42 megatons, or Mt, (1Mt = 1 million tons) of carbon dioxide, or CO2, in 2021. In context, the number amounts to less than 0.08% of the world's total emissions of 49,360 Mts of CO2 in the same year. CoinShares came to such figures using a variety of estimates regarding the efficiency of the Bitcoin network, its energy use, hardware, etc., on a global scale. As a result, it may not reflect the actual CO2 emission of the network. But the …
Adoption / Jan. 31, 2022
MENA Climate Week notes blockchain's potential for climate action
Panelists at the recent MENA Climate Week 2022 examined how blockchain technology can contribute to green initiatives. Hosted by Dubai’s Ministry of Climate Change and Environment, Dubai Electricity and Water Authority, and the World Green Economy Organization along with various institutions under the United Nations Environment Programme and in partnership with renewable energy groups, the event explored how to promote climate action using digital innovations. In one session, a hybrid panel made up of experts in blockchain and climate action discussed how blockchain use cases can contribute to a greener future in the Middle East and North Africa (MENA) and …
Adoption / March 30, 2022
IMF recommends eco-friendly CBDCs and non-PoW mechanisms for payments
An International Monetary Fund study on energy consumption has reveale the importance of design choices within the crypto ecosystem to build an environmentally friendly mainstream payment system. In the study, titled “Digital Currencies and Energy Consumption,” the IMF examines the energy consumption of crypto assets based on their distinct design elements to evaluate the ideal mechanism for developing central bank digital currencies (CBDCs). Sharing the groundwork for policy discussions around the environmental impacts of digital currencies, the IMF recommends moving away from proof-of-work-based distributed ledger technology applications, adding: “In particular, Bitcoin, the best known application of this type, is estimated …
Adoption / June 8, 2022