Australian Cryptocurrency Exchange Promotes Green Initiatives

Asia Blockchain Review
November 11, 2019

Australian cryptocurrency exchange Independent Reserve has revealed its new initiative to become carbon neutral by participating in the Climeworks program that will capture carbon dioxide from the air using new technology.

Crypto Exchange Promotes Cleaner Ecosystem

Bitcoin mining operations use massive amount of energy, thus, the company is looking to offset the carbon footprint from crypto activities with its move to go green, according to Adrian Przelozny, CEO and Founder of Independent Reserve. He added:

“Bitcoin mining uses more energy than the whole of Switzerland. These figures are absolutely astounding. As Australia’s leading cryptocurrency exchange, it’s our duty to take proactive steps to become carbon neutral. We’re proud to be the first Australian crypto exchange to take real action on this issue and are committed to increasing our carbon capture program every year.”

Planting Trees to Reduce Carbon Emissions

Apart from joining Climeworks, Independent Reserve has also become a part of Trillion Trees, a campaign that pledges to plant 1 trillion trees by 2050 and lower global annual carbon emissions by 25 percent.

Independent Reserve has disclosed it will be planting two hundred trees during its first year as a corporate member of Trillion Trees, reducing approximately 2.5 tonnes of carbon emissions per year.

Przelozny added that companies in the cryptosphere should be more aware of how they can take steps towards becoming a greener company.

“When I speak with customers, the topic of how our industry can better protect the environment and reduce emissions is a common concern,” Przelozny said. “As we grow our business, looking at ways in which we can further offset our carbon footprint will be one of my top priorities.”


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