Launch of the Ethereum climate platform to address the network's past PoW emissions

Ethereum co-founder Joseph Lubin said that while the merger has set a high standard for climate change mitigation , the crisis still requires more radical changes. New

Months after the Ethereum merger, when the network transitioned to the more environmentally friendly proof-of-stake (PoS) consensus, the Ethereum community is now focused on fixing the old proof-of-work ( PoW) of the carbon dioxide emission network.

At the COP 27 climate action event, Web3 companies, civil society leaders and the United Nations Framework Convention on Climate Change announced the creation of the Ethereum climate platform , which aims to counter the carbon footprint left by the Ethereum network since its launch. in 2015.

Led by software company ConsenSys and climate-focused blockchain company Allinfra, founding members of the coalition include a number of organizations, such as Microsoft, Polygon, Aave, the Enterprise Ethereum Alliance, the Global Blockchain Business Council, Huobi and Digital Laser.

Using Web3 technologies, funding mechanisms, and governance protocols, the newly formed group will invest in climate projects that promise to mitigate past Ethereum emissions.

According to Ethereum co-founder and ConsenSys CEO Joseph Lubin, while the merger has set the bar high for climate change mitigation, the climate crisis still requires “more radical change.” Additionally, Yorke Rhodes III, co-founder of blockchain at Microsoft, also expressed the company's enthusiasm to contribute. “The core of our collaboration on this initiative is to help the Ethereum community chart an enlightened path,” the exec explained.

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