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Crypto.com Purchases Technological Carbon Removals to Advance Sustainability Efforts

Eight-year Carbon Removal Agreement with Climeworks to
Neutralize Crypto.com’s Direct Carbon Emissions

Jan 16, 2023

Singapore, January 16, 2023Crypto.com, trusted by more than 70 million customers world-wide and the industry leader in regulatory compliance, security and privacy certifications, announced today the next step in its sustainability and carbon management journey by collaborating with Climeworks, a pioneer in carbon dioxide removal via direct air capture technology. This collaboration between Climeworks and Crypto.com is sector-leading among cryptocurrency platforms and driven by Crypto.com’s focus on investing in critical and new technology that reduces carbon dioxide in the atmosphere and that can be scaled.

Since announcing its initial climate commitment in 2021, Crypto.com has engaged with several carbon removal providers, policymakers, and Crypto.com’s own commercial partners, such as Shopify, to thoroughly assess and measure our carbon footprint and determine how we can most effectively remove our residual emissions. We have carefully considered what kind of removal provider we want to engage with and concluded that removing our direct carbon emissions using innovative technology such as direct air capture is the most impactful way forward.

“We are committed to addressing the pressing climate challenge and continuously furthering our efforts,” said Eric Anziani, President and Chief Operating Officer at Crypto.com. “We are honored to collaborate with such a proven leader in Climeworks and look forward to not only removing our direct carbon emissions but also helping advance the impact of these invaluable carbon removal technologies and forging a more sustainable path for our entire industry.”

“By committing to technological carbon removal today, companies such as Crypto.com contribute to the scale-up of such solutions. Carbon removal must be scaled to gigaton capacity by mid-century, and this much-needed scale-up is strongly driven by the voluntary carbon market. While reducing emissions should be prioritized, the Science-Based Targets initiative urges companies to not delay action on scaling carbon removal technologies like direct air capture”, says Jan Huckfeldt, Chief Commercial Officer at Climeworks.

By applying the innovative approach of technological carbon removal offered by Climeworks to neutralize Crypto.com’s scope I and II residual emissions, Crypto.com is supporting a technology that has a critical role to play in the race towards global net zero. Crypto.com recognizes the importance of prioritizing emissions reductions and is also ambitiously focused on advancing further sustainability and emissions reductions efforts, such as exploring residual and Scope 3 emissions (indirect value chain emissions, e.g., customer or merchant emissions) reduction initiatives.

“Climate and environmental sustainability require a collaborative and multi-sector approach to make a measurable difference,” said Kris Marszalek, CEO of Crypto.com. “We are still very early in our sustainability journey, and we have observed best practice from partners where investments have had tangible impact on carbon removal. Even in the current market, we consider it to be as important as ever to invest in innovative technologies that will make a positive impact on climate change across our ecosystem.”

About Crypto.com

Founded in 2016, Crypto.com is trusted by more than 70 million customers worldwide and is the industry leader in regulatory compliance, security and privacy certifications. Our vision is simple: Cryptocurrency in Every Wallet™. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem.

Learn more at https://crypto.com.

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