Polygon Network, the leading Ethereum scaling solution, aims to make its blockchain technology carbon neutral by 2022, offsetting CO2 emissions to minimize its environmental impact and become climate positive.
Polygon Network is betting on going green this year. Polygon Network developers have revealed a strategic plan to offset the carbon footprint of the network's operation. blockchain produces in the environment.
Although Polygon Network is considered one of the blockchains with the least environmental impact, being based on the Proof of Stake protocol (PoS), its developers indicate that its interaction with the blockchain Ethereum through cross-chain bridges and other protocols it produces almost 99% of its current emissions.
To limit these carbon emissions and achieve neutrality, Polygon has published its green manifesto. Called “A Smart Contract with Planet Earth”Polygon’s manifesto states that the carbon footprint of “every transaction — an NFT minted by an artist, a DeFi trade empowering individual economic autonomy, a token connected to a project being built on our network — is accounted for and the environmental impact is offset.”
Polygon developers have pledged to offset the carbon emissions of every transaction that occurs on the network through the purchase of carbon credits. Polygon is currently working in collaboration with KlimaDAO to acquire carbon credits on the Klima Infinity marketplace. So far, the blockchain has purchased $2 worth of traceable BCT and MCO400.000 carbon credits, which are equivalent to approximately 90.000 tons of CO2 emissions (T/CO2e).
Also, the developers indicated that the carbon debt generated since the start of operations on the blockchain will be settled.
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New sustainable era for Polygon Network
Polygon has committed to the sustainability of its blockchain as an opportunity to reduce climate change and global warming and thereby ensure the technological progress of Web3. The developers have said that the next frontier of the Internet must be friendly and respectful of the planet.
Web3 must be developed as a decentralized, open, carbon-neutral ecosystem, where millions of people around the world coexist and interact in a sustainable and prosperous way for all.
In light of the need to decarbonize the blockchain-based economy and reduce its environmental impact, Polygon developers noted in the manifesto that when the network achieves its goal of being carbon neutral later this year, then will work to make Polygon the industry's first climate-positive blockchain.
Polygon co-founder Sandeep Nailwal said on Twitter that the vision is to leverage the opportunities that technology provides to help heal the earth, rather than destroy it.
$20 million commitment to achieve climate neutrality
Polygon Network developers have committed $20 million to immediately offset the network’s carbon footprint and drive new initiatives to ensure a healthy and sustainable blockchain ecosystem.
On its website, Polygon notes that the funds will also fund community initiatives focused on encouraging Polygon ecosystem partners to also make the commitment to be environmentally sustainable. Additionally, they will be used to provide resources to those partners in the network who want to offset their carbon footprint and to provide resources to NGOs (non-governmental organizations) that drive climate change.
Polygon, more efficient than Microsoft and Deloitte
Based on Polygon Network's current carbon footprint of 90.645 T/CO2 per year, the Ethereum-focused blockchain is more efficient than big tech companies like Microsoft or even professional services firm Deloitte.
Transactions within the Polygon blockchain generated just 570 T/CO2 over the past year, while transactions linked to the Ethereum mainnet generated a total of 73.781 T/CO2 over the same period.
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