Crypto.com made the announcement today that it is collaborating with Climeworks, a leader in the field of carbon dioxide removal using direct air capture technology, as the next step in its journey toward greater sustainability and carbon management. This partnership between Climeworks and Crypto.com is industry-leading, and it is driven by Crypto.com’s focus on continuing to invest in essential and new technology that diminishes carbon dioxide in the atmosphere and that can be expanded.
Crypto.com was established in 2016, and it is currently the market leader in regulatory compliance, security certifications, and privacy accreditations. More than 70 million clients all around the world trust the company. The mission of Crypto.com is straightforward: to place cryptocurrency in every wallet. Crypto.com is dedicated to fostering innovation that will hasten the widespread use of cryptocurrencies and to providing the next generation of entrepreneurs, builders, and innovators with the tools they need to create a digital environment that is more fair and equal for all.
Kris Marszalek, CEO of Crypto.com, said: “Climate and environmental sustainability require a collaborative and multi-sector approach to make a measurable difference. We are still very early in our sustainability journey, and we have observed best practices from partners where investments have had a tangible impact on carbon removal. Even in the current market, we consider it to be as important as ever to invest in innovative technologies that will positively impact climate change across our ecosystem.”
Forging a More Sustainable Path for the Entire Industry
Since it first announced its climate commitment in 2021, Crypto.com has been in contact with a number of companies that specialize in carbon removal, as well as policymakers and the company’s own commercial partners, such as Shopify. This is conducted to make an exhaustive analysis and measurement of the carbon footprint left by Crypto.com, as well as to find out how the platform can most efficiently get rid of its lingering emissions. Crypto.com has given serious consideration to the type of removal provider it wishes to work with, and it has come to the conclusion that the most significant way forward is to eliminate its direct carbon emissions through the use of cutting-edge technology such as direct air capture.
Eric Anziani, President and Chief Operating Officer at Crypto.com, said: “We are committed to addressing the pressing climate challenge and continuously furthering our efforts. We are honored to collaborate with such a proven leader in Climeworks and look forward to not only removing our direct carbon emissions but also helping advance the impact of these invaluable carbon removal technologies and forging a more sustainable path for our entire industry.”
Jan Huckfeldt, Chief Commercial Officer at Climeworks, said: “By committing to technological carbon removal today, companies such as Crypto.com contribute to the scale-up of such solutions. Carbon removal must be scaled to gigaton capacity by mid-century, and this much-needed scale-up is strongly driven by the voluntary carbon market. While reducing emissions should be prioritized, the Science-Based Targets initiative urges companies to not delay action on scaling carbon removal technologies like direct air capture.”
Crypto.com is supporting a technology that has an important part to play in the race towards worldwide net zero by using the new way of technological carbon removal provided by Climeworks to subdue Crypto.com’s scope I and II residual emissions. Crypto.com acknowledges the significance of placing a priority on the reduction of emissions and is also committed to making significant headway in the advancement of further sustainability and emissions reduction efforts. One example of this is the company’s exploration of residual and Scope 3 emissions reduction initiatives (indirect value chain emissions, for example, customer or merchant emissions).
