Greenpeace Calls Out Financial Giants for Funding Bitcoin Mining's Environmental Impact

IconCryptoNewsTerminal Staff14 Jun, 2024

cryptonews.jpg

Greenpeace Calls Out Financial Giants for Funding Bitcoin Mining's Environmental Impact

Greenpeace, the international environmental organization, is demanding that financial institutions take responsibility for their role in funding the Bitcoin mining industry. In a recent report, Greenpeace highlighted the significant environmental impact of Bitcoin mining, emphasizing the need for financial firms to prioritize sustainability. According to the report, major Wall Street players like Trinity Capital, Stone Ridge Holdings, BlackRock, Vanguard, and MassMutual have significantly contributed to the Bitcoin mining industry's carbon footprint. These firms have financed miners responsible for emitting over 1.7 million tons of carbon dioxide in 2022 alone, equivalent to the emissions from over 335,000 U.S. homes for a year. Greenpeace urges financial companies involved in Bitcoin mining to disclose the carbon emissions associated with their investments and support mining companies committed to sustainability. The organization emphasizes the crucial role of financial institutions in driving positive change and mitigating the environmental impact of the cryptocurrency industry.

Related News