Cardano Foundation Unveils Sustainability Data

Cardano Foundation Publishes Sustainability Indicators Ahead of EU MiCA Regulations
Published on: Wed 03 Jul 2024 by Eddy S.
In a collaborative effort with the Crypto Carbon Ratings Institute (CCRI), the Cardano Foundation has released sustainability indicators for the Cardano network. This move is aimed at ensuring compliance with the forthcoming MiCA regulations within the European Union, which will take effect in December 2024. The report highlights Cardano’s energy-efficient consensus protocol, with the network consuming significantly less electricity than proof-of-work (PoW) protocols, totaling 704.91 MWh annually as of May 2024.
Cardano’s sustainability indicators align with the regulatory technical standards proposed by ESMA under the MiCA framework, covering energy use, greenhouse gas emissions, waste production, and natural resource utilization. This proactive initiative positions Cardano as a leader in sustainable practices within the crypto industry and sets a new standard for regulatory compliance.
Frederik Gregaard, CEO of the Cardano Foundation, stated that this initiative not only ensures adherence to upcoming regulations but also aims to set a benchmark for the crypto industry. The Cardano Foundation’s efforts underscore how blockchain networks can address environmental, social, and governance (ESG) concerns while maintaining transparency and efficiency. This step is expected to reinforce trust among regulators, investors, and users in the cryptocurrency sector.
Note: The article reflects the author’s views and should not be taken as investment advice. Always conduct your own research before making any investment decisions.