Mode commits to net-zero emissions from crypto-related operations

Planet Earth at nightMode Global Holdings, which is an LSE listed-fintech Group, is agreeing to reduce net emissions from its cryptocurrency activities before the end of the decade.

A pertinent topic, with cryptocurrency mining having a negative impact on the environment, the business is committing to this by signing the Crypto Climate Accord (“CCA”).

Mode says it will also take part in a CCA trial to test new digital solutions to accelerate the decarbonisation of the cryptocurrency sector.

The CCA is a private-sector led initiative inspired by the Paris Agreement on climate change, that is focused on developing open-source solutions to enable the decarbonisation of the cryptocurrency industry.

Ryan Moore, CEO of Mode, comments: “There is no reason why any crypto or payments platform should be contributing to climate change. We believe that our customers should be able to invest in Bitcoin and rest easy that they are not harming the environment. We all need to urgently play our part to reduce global emissions – including businesses.

“We are launching a range of commitments to combat climate change and to be an industry leader. I am proud that we have signed the Crypto Climate Accord and agreed to be a trial user of Energy Web’s carbon reduction platform.

“We are fully committed to being carbon neutral in our crypto activities by 2030 and our new Sustainability Committee will quickly develop a plan of action to ensure that we deliver on our commitment.”