Knowledge Hub
by Amelie Arras
November 2022
Zumo wins Best Application of ESG 2022 at the CryptoAM Awards and Summit, recognising the work that Zumo has done decarbonising crypto.
The annual CryptoAM gala dinner, hosted by CityAM, took place yesterday 24th November in the heart of London. The event brought together some of the cryptocurrency and blockchain world’s most prominent figures for two days of discussions. The glittering award ceremony celebrated the success and innovation across blockchain technology, crypto, NFT and the metaverse.
We’re honoured to have won the Best Application of ESG 2022, recognising the work that we have done decarbonising crypto.
Zumo’s decarbonisation work
Zumo is leading the conversation when it comes to the crucial issue of decarbonising crypto, and has released a series of seminal reports that are shaping the direction of travel for the wider international industry.
Whilst others talk, Zumo also does.
In June 2022, the company successfully completed its Zero Hero pilot project, a live trial to buy Renewable Energy Certificates (RECs, where 1 REC equals 1 MWh of green electricity) to compensate for the electricity usage of bitcoin bought via the Zumo app.
Over the pilot period, bitcoin to the value of £1.5 million has been covered by Zero Hero REC purchases, with a total of 850 megawatt-hours (MWh) of electricity compensated via the programme – enough energy to drive an electric vehicle for over three million miles. Testament to the topicality of the issue, end-of-pilot Zumo polling found that 84% of customers feel the issue of environmental sustainability in crypto is an important topic the sector should be working urgently to address, with the same number (84%) also agreeing they are more likely to use a crypto wallet that offers built-in features that play a role in reducing crypto’s environmental impact.
Continuing the momentum, Zumo and Zero Labs have teamed up for the RenewableCrypto project to find practical ways in which wallets and platforms can scale the use of renewable energy.
A vision based on values
Zumo is on a mission to bring the benefits of blockchain and crypto to everyone, whilst protecting the future of our planet. We’re a values-driven business, ever since the company and its founding members sat down to decide what would be the values that each of them, and everyone at Zumo, would live by.
As part of our sustainability pledge, we committed to ensure our decisions and actions benefit people and the planet.
We believe the crypto sector has an opportunity to lead the way in the transition to renewable electricity, and we want to set an example that we can all be proud of.
We would like to thank our wonderful team of outstanding specialists who are fully devoted to making blockchain and cryptocurrencies more accessible for everyone. And of course, we would not be where we are today without you, our clients!
Thank you for choosing and trusting us.
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