17 October 2022

Zumo joins World Economic Forum Crypto Sustainability Coalition

Written By Zumo in FinTech

Zumo joins World Economic Forum Crypto Sustainability Coalition

Cross-industry coalition formed to investigate how web3 and blockchain tools can be leveraged to achieve positive climate action.

[Amsterdam, 12 October 2022] Zumo, the UK-based wallet and crypto-as-a-service enterprise solution provider, has announced at Sibos 2022 that it has become the latest member of the World Economic Forum’s Crypto Sustainability Coalition. 

 

Part of the wider Crypto Impact and Sustainability Accelerator, the newly-formed coalition will explore how blockchain tools can be leveraged to contribute to meaningful progress toward positive climate action. 

 

Earlier this month, Zumo won the Climate Innovation category at the 2022 Scottish Financial Technology Awards. Further building on its award-winning work to drive towards practical solutions and informed action in the crypto climate debate, Zumo will contribute to the outputs of the coalition’s targeted working groups in developing the guiding principles and toolkits for companies, regulators and start-ups to leverage the potential of blockchain to reach energy goals.

 

Particular areas of focus include collaborative assessment of crypto sector energy usage; an examination of the potential of web3 technology to facilitate positive climate action; and further investigation of the usage of blockchain-based carbon credits.

 

Nick Jones, Zumo CEO, commented:

 

“It’s extremely encouraging to see the level of coordinated activity that has emerged in this area since we started our own crypto decarbonisation journey.” 

 

“As we all know, there’s a lot left to do and a long way to go; what we’re seeing, however, is the strands of this work in the crypto ESG space really coming together – and, perhaps, the beginnings of a shift in the narrative and the ability to see this technology not just as a problem, but as a potential force multiplier for good.”

 

“Making sure crypto and blockchain more generally develops in a way that caters to the needs of people and the planet is critical to Zumo and what we’re doing. We’re delighted to be invited to participate in this worthy World Economic Forum initiative, and to continue to build and collaborate with our fellow actors in the space.”   

 

Evin Cheikosman, Lead of the Crypto Sustainability Coalition, World Economic Forum, commented: 

 

“Climate change is a global coordination problem. The current legacy system has failed to coordinate effective policies and capital investment into the commitments necessary to address the most pertinent threat to humanity. What is urgently needed are global coordination technologies that can transcend the mass bureaucratization of climate action. This is where web3 takes up the torch. I’m excited to work with climate innovative companies, like Zumo, to showcase the impact journey that the Crypto Sustainability Coalition is spearheading from climate challenge to web3 solution.” 

 

Prof. Cathy Mulligan, ERA Chair Blockchain and World Economic Forum, Crypto Impact and Sustainability Accelerator (CISA) Fellow (Working Group 1 lead), commented:

“The most critical discussion the world has today is how to combat climate change; within cryptocurrencies measuring true environmental impact can often be more complicated than in other technologies.  Within this working group, we have convened independent experts to create tools and guidelines to those working in this space deal with this complex issue” 

 

Find out more about the Crypto Sustainability Coalition at weforum.org

Learn more about Zumo’s own industry-leading work to date at zumo.tech

Up Next ...
22 November 2024

Eden AI raises €3M seed round to bridge the gap between AI models and business needs

Eden AI, which works with more than 500 organisations including the Council of Europe and Atos, translates sophisticated AI models into practical tools for businesses...

22 November 2024

City Bank Adopts TranzAxis for E-Commerce Payment Solutions

This decision aligns with the bank’s focus on digital transformation and improving online transaction processes for merchants.

22 November 2024

Zellis summit maps bold future of innovation

Event showcases Zellis HCM AIR, realtime payroll, and AI-enhanced features

21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

More in FinTech

Eden AI raises €3M seed round to bridge the gap between AI models and business needs

22 November 2024

Eden AI, which works with more than 500 organisations including the Council of Europe and Atos, translates sophisticated AI models into practical tools for businesses...

City Bank Adopts TranzAxis for E-Commerce Payment Solutions

22 November 2024

This decision aligns with the bank’s focus on digital transformation and improving online transaction processes for merchants.

Zellis summit maps bold future of innovation

22 November 2024

Event showcases Zellis HCM AIR, realtime payroll, and AI-enhanced features

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

21 November 2024

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

White Papers FinTech

Open Finance in Review: Looking back at 2023

28 November 2023

In this insightful report, OzoneAPI delve into the pivotal developments that have shaped the landsca...

White Papers FinTech

Fintech 2030: The Industry View

02 October 2023

Key findings from the report:Embedded finance is expected to dominate the industry in 10 yearsThere...

White Papers FinTech

Pulse of Fintech H2 2022 report

27 July 2023

UK FinTech investment falls 56% to £14.42bn in 2022After an incredibly strong 2021, with total FinTe...

White Papers FinTech

The Rise and Impact of Fintech in Latin America

29 June 2023

Fintech also provides tools to help manage these risks. Financial authorities and their supervisees...

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

04 December 2024 - 05 December 2024

12:00 AM - 12:00 AM

ExCel London, Western Gateway, Royal Victoria Dock, London, London, E16 1XL

Free
Finnovate Europe

Finnovate Europe

25 February 2025

12:00 AM - 12:00 AM

InterContinental London - The O2, 1 Waterview Drive, London, Greenwich, SE10 0TW

£1,699.00