The Polygon ecosystem retired $400 000 in carbon credits in collaboration with KlimaDAO to offset greenhouse gas emissions. $20 Millions are added to Web3 through Polygon, an Ethereum scaling platform. Polygon Network claims to have achieved carbon neutrality in a <a href="https://www.prnewswire.com/ae/news-releases/polygon-network-reaches-first-sustainability-milestone-by-achieving-carbon-neutrality-301571777.html">news statement</a> issued yesterday. On the path to being carbon negative, it reached a milestone. By permanently retiring $400,000 worth of carbon credits, they want to achieve this. It will reduce greenhouse gas emissions by 104,794 tonnes. Since the blockchain's inception, the gas has been released.
<h2>Polygon's Green Manifesto</h2>
In April, <a href="https://www.cryptoknowmics.com/news/spritz-finance-bill-pay-beta-launches-on-polygon-network/" target="_blank" rel="noopener">Polygon</a> published its Green Manifesto, committing $20 million to projects utilizing Web3 to develop fresh approaches to on-chain carbon credit retirement.
<blockquote>According to the company, <em>"Carbon offsetting is uniquely powerful - thanks to blockchain technology, as carbon credits in any volume may be retired with total transparency. Companies can buy carbon offsets, access real-time market data, and speed up the funding of high-impact carbon projects worldwide. Polygon ensured that every transaction, whether the NFT minting or DeFi trade, accounted for its environmental impact. Also, it compensated by offsetting the historical emissions of the entire network.''</em></blockquote>
<h2>Carbon Neutrality</h2>
<blockquote>Co-founding member of Polygon, Sandeep Nailwal said, <em>“Our world is facing an environmental crisis, and the blockchain industry must do far more than promise to stop adding to the problem. Reaching carbon neutrality is an important first step, but there is more work ahead. Polygon will lead the way as the whole industry moves toward becoming a net positive for the environment.”</em></blockquote>
The Green Blockchain Summit will take place at Polygon on July 13. It serves as a virtual forum for Web3 executives to address issues facing the blockchain sector.

Polygon Reaches First Sustainability Milestone, Attains Carbon Neutrality

The Polygon ecosystem retired $400 000 in carbon credits to offset greenhouse gas emissions. Polygon Network claims to have achieved carbon neutrality.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Polygon Reaches First Sustainability Milestone, Attains Carbon Neutrality

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