At Zumo, we are committed to an extremely ambitious target of net zero by 2030.
Scientists agree it is ‘unequivocal’ that warming of the planet has occurred due to human influence. We’re in a climate crisis, and we all have a responsibility to take action to reduce global heating as much as possible.
Zumo Zero, our three-pillar net zero strategy, encompasses not only our own carbon footprint, but the carbon footprint of the blockchains we work with and the wider ecosystem too.
Ever since we were founded, we’ve committed to being climate neutral for our Scope 1, 2 and 3 emissions.
We will develop ways to engage our users, address the indirect emissions of our crypto holdings, and strategically align ourselves with blockchains that have lower energy use by design.
We need your help to build a more sustainable, more inclusive world. And we’re excited to bring you the green alternatives and sustainable choices that allow you to participate in a new economy - and look after our Earth.
Net zero’s a big target, but it’s one we can all achieve, together.
Help us make you a Zero Hero.
Make no mistake, achieving net zero is a huge task - one that requires us to pull together like never before on an individual, institutional and systemic level to effect transformational change.
Even so, every day we all have choices to make - all sorts of little things we can do to play our part in creating a future that’s that little bit greener.
Some of us shop local. Hop on the bike. Switch to that green energy tariff.
It’s the daily choices - made consistently - that together add up to something big.
Now with Zero Hero, you can make the greener choice for your crypto finances as well.
For the next three months of our Zero Hero pilot project, whenever you buy Bitcoin in the Zumo app, you can be sure that any electricity consumption linked with creating that Bitcoin is compensated via verified Renewable Energy Certificates - transparently and permanently recorded on the blockchain - that prove your Bitcoin is backed by 100% clean energy.
Our Zero Heroes know that not only have their Bitcoin holdings been decarbonised, they’re supporting and incentivizing renewable energy generation in some of the most fossil fuel dependent areas of the world, too.
A new economy is emerging, one that’s borderless, inclusive, global. We believe crypto will help generations regain control over their financial futures, as well as the future of our planet. As crypto develops and matures at unparalleled pace, we have the perfect opportunity to ensure we develop products and behaviours that will help the future of the planet.
With this solution, we’re leveraging the power of blockchain technology to deliver actionable applications for a better, greener tomorrow.
Zumo will be using Zero - a blockchain-based technology from Energy Web, one of the three founding organisations of the Crypto Climate Accord - to purchase and verify 100% renewable energy certificates for all Bitcoin purchases on the Zumo app.
Providing you, our Zero Heroes, with a greener alternative to buy Bitcoin, we have researched a methodology that calculates the average amount of electricity required to produce one BTC since the first block in 2009, using this figure to calculate the electricity consumption attributable to all BTC purchased on the Zumo app.
This will then be used to purchase 100% renewable electricity equivalent to the electricity consumption of each BTC purchased via the Zumo app (for the first three months, this applies only to BTC purchased on the Zumo app, and not BTC transferred in from other wallets).
The renewable energy certificates will be procured from selected projects in areas of the world heavily dependent on fossil fuels, boosting these communities and incentivising renewable energy generation in these regions.
To learn more about our methodology, you can read our foundational ‘state of play’ paper here, a comprehensive review of crypto and its current climate impact. Zumo will be publishing further information on our methodology at the end of this project, and we will be making it freely available to others in the sector.
Will you join us as a Zero Hero?
Zumo calculates the electricity consumption per BTC using publicly available average electricity consumption data for the period since the first bitcoin was mined in 2009 – we provide more information on this methodology in our ‘State of Play’ report here.
We are working with the Crypto Climate Accord to ensure this methodology is available to others in the sector and encourage feedback. This method was chosen as we have no way of knowing when a particular bitcoin was mined, therefore an average is appropriate.
There are other methodologies, such as the Green Bitcoin Project, which use the electricity consumption of mining today. Likewise, these methodologies are discussed in further depth in our ‘State of Play’ report.