Crypto’s Carbon Emissions Addressed by One River and Moss
Moss Helps One River Digital Asset Management Create World’s First Carbon-Neutral Crypto Asset Fund
One River Digital Asset Management (ORDAM), one of the largest institutional crypto fund managers, and MOSS, the world’s largest carbon credit platform, today announced plans to launch the world’s first carbon-neutral crypto asset fund, enabling climate conscious investors the opportunity to benefit from exposure to Bitcoin and Ethereum while offsetting their carbon footprint.
Through the provable “burning” of MCO2 tokens (via UNISWAP), One River Digital Asset Management created the world’s first carbon neural crypto asset offering. For every Bitcoin owned, ORDAM will buy and “plant” MCO2 tokens, offsetting estimated carbon emissions.
ORDAM is the first asset management company to offer carbon offsetting globally.
ORDAM Chief Executive Officer Eric Peters said in a Bloomberg interview. “There’s a lot of talk about the carbon footprint of Bitcoin. We decided it’s time to stop talking and start doing something about it,” adding here, “we are so excited to work with Brazil’s MOSS since they are doing the hard work of actually creating and executing carbon offset programs in the Amazon and then tokenizing them for use in the crypto space. This was a truly needed application of tokens and we’re looking forward to helping our clients offset their crypto carbon footprint.”
Moss CEO Luis Felipe Adaime notes, “This is exactly the application of the MCO2 token we envisioned when we created it. While smaller crypto entities – miners, traders, companies building distributed applications, etc., can purchase our token on a number of cryptocurrency exchanges to offset their carbon use, MOSS Carbon Neutral Custody allows any institutional or corporate investor a means to offset the carbon emissions associated with crypto assets.”
The decentralized technology that makes cryptocurrencies so secure – mining – requires vast amounts of energy. While a significant and growing portion of cryptocurrency mining is done with renewable and carbon-neutral sources, the full transition to zero carbon mining will take years. Meanwhile, Moss Carbon Neutral Custody provides an effective way for ESG-minded investors to offset the carbon emissions related to their ownership of cryptocurrencies.
By creating a more sustainable way to own crypto assets, Moss Carbon Neutral Custody will help One River attract investors who shied away from this emerging asset class due to environmental concerns, with the additional benefit of preserving and defending the Amazon rainforest.