Why should we care about global warming, and what’s it got to do with blockchain?

We believe it is an unequivocal reality that global warming is happening; and that it is inextricably linked to human activity since the mid-20th century. The Earth’s vital signs have been studied directly, leading scientists at the Intergovernmental Panel on Climate Change (IPCC) to conclude that the planet’s climate is undergoing significant changes. The current global warming trend is particularly alarming, because it is advancing at an unprecedented rate over millennia (it has been said that current warming is happening 10x faster than the average rate of ice-age recovery warming).

Carbon emissions mainly come from human activities such as burning organic materials like coal, oil, gas, wood, and solid waste, as well as agricultural activities. At its worst in 2019, human activities were responsible for the emission of 43 billion tonnes of CO2, an all-time high breaking the previous record of 2018. Shockingly, despite the good intentions set out in the 2015 Paris Agreement, global carbon emissions have been rising since 2016 (following a momentary dip between 2014 and 2016). The Paris Agreement set out to keep global temperatures within an increase limit of 2 degrees celsius (ideally no more than 1.5 degrees celsius), but with the current policies in place we are headed towards a 3.7 degree celsius increase by 2100. According to the UN Environment Programme, we must reduce current CO2 emissions by 25% before 2030 if we are to achieve the 1.5 degree limit. This mammoth task will of course require swift and drastic action across industries and geographies.

The heat-trapping nature of CO2 was discovered in the mid-19th century and consequently, the human-induced release of carbon dioxide (and other gases) into the atmosphere is understood as the leading reason for the Earth’s soaring temperature. Startlingly, carbon dioxide from human-activity is increasing more than 250 times faster than it did from natural causes over the last Ice Age.

It may sound impossible to avoid the consequences of global warming, but change is possible. Vital carbon offsetting projects are well underway such as taking care of our natural forests, the floras and faunas found therein, reducing our use of plastics, reducing e-waste and other carbon emitting activities. In the technology industry, efficiencies that help bring down carbon emissions are being created, and many large companies across the board have vowed to be carbon neutral by 2030.

Pertinently for Carb0n.fi, the rise and increased weight of the crypto industry has recently been cited as an increasingly problematic emitter of carbon dioxide. As such, we are paving the way towards making a growing problem the possible solution in helping to reduce global carbon emissions. Here in Carb0n.fi, our ambitions are to not only make crypto a carbon-neutral industry (by ensuring that a percentage of our assets are put towards buying carbon offsets), but also to transform its negative reputation and image. We are calling on companies, investors and individuals to join our movement and step up towards becoming the solution to the long-term damage caused by human-induced global warming. Let us all invest intelligently, with sustainability front and centre.

Originally published on Medium (medium.com/@carb0nfi) on 12 October 2021. Restored from an Internet Archive capture; text unchanged.