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Crypto-Firm Polygon Seeks to Eliminate Carbon Impact (Correct)

April 13, 2022, 11:45 AM

Polygon, a software platform for developers utilizing the Ethereum blockchain, is pledging $20 million as part of a push to fully offset the impact of its carbon-dioxide emissions this year.

Sandeep Nailwal, the founder of Polygon, said more efforts need to be made by blockchain companies to form a “united front” to fund and “leverage technology that helps heal the earth -- rather than destroy it.”

The cryptocurrency and blockchain industry has drawn widespread scrutiny for its massive electricity use, driving some measures to use carbon credits to finance environmental projects that mitigate some of the impacts.

Polygon said it ...