Last updated on 15 Jul 2022
iov42 is building a blockchain platform that empowers change. One of the first major use cases we have been developing is therefore specifically focused on using our technology for climate action. Environmental concerns have been at the core of our activities and technology development since the beginning. The unique architecture of our platform is centered around the idea of combining high-performance and scalability with energy efficiency. This is made possible through our novel consensus mechanism that leaves behind traditional blockchain’s immense energy consumption, while at the same time ensuring transaction speed and scalability.
As part of our commitment to advance the use of our technology for climate action, we are proud to be a member of Climate Chain Coalition, an open global initiative to support collaboration among members and stakeholders to advance blockchain to help mobilize climate finance and enhance MRV (measurement, reporting, and verification) to scale climate action for mitigation and adaptation.
Understanding our responsibility to contribute to a sustainable society, we are committed to leading the industry in minimising the impact of our activities on the environment. In particular, we are committed to:
- complying with or exceeding all relevant environmental legislation;
- reducinging resource consumption, waste and pollution within our offices and in our operations;
- continually improving our environmental performance based on monitoring and reviewing our progress and performance on a regular basis;
- effectively managing our environmental impacts;
- using pollution prevention and environmental best practices in all we do;
- keeping our travel as eco-friendly as possible and, in particular, reduce the amount of our air travel;
- continuing to integrate the consideration of environmental concerns and impacts into our decision-making and activities;
- promoting environmental awareness among our employees and encouraging them to work in an environmentally responsible manner; and
- communicating our environmental objectives and commitments to all staff, as well as to customers, investors, and other external stakeholders.
We will encourage the adoption of similar principles by our partners.