Carbon Neutral NFTs? How?

This page explains Future Cities' commitment to Carbon Neutrality, and WAX's carbon-neutral blockchain.

What Environmental Terms do I need to know? Carbon sink is any system that absorbs more carbon than it emits. Carbon sequestration happens when carbon oxide is removed from the atmosphere and then stored. Carbon sequestration is temporary. Carbon offset reduces emissions via the application of renewable energy, energy efficiency, and/or clean, low-carbon technology to counterbalance unavoidable carbon requirements elsewhere. Carbon neutrality means having a balance between emitting carbon and absorbing carbon from the atmosphere in carbon sinks. ___________________________________________________________________________________ How can energy consumption be Carbon Neutral? In order to achieve net zero emissions, all worldwide greenhouse gas (GHG) emissions will have to be counterbalanced by carbon sequestration. In order to limit global warming to 1.5 degrees Celsius (34.7 degrees Fahrenheit) – a threshold the Intergovernmental Panel for Climate Change (IPCC) suggests is safe – carbon neutrality by mid-21st century is essential. The main natural carbon sinks are soil, forests and oceans. The carbon stored in natural sinks such as forests is released into the atmosphere through forest fires, changes in land use or logging. Another way to reduce emissions and to pursue carbon neutrality is carbon offset: to offset emissions made in one sector by reducing them somewhere else. This can be done through investment in renewable energy, energy efficiency or other clean, low-carbon technology solutions. According to estimates: -natural sinks annually remove between 9.5 and 11 Gt of CO2. -Annual global CO2 emissions reached 38.0 Gt in 2019. -there is roughly 28 Gt of yearly CO2 emissions that we must offset.

from: https://edgar.jrc.ec.europa.eu/

___________________________________________________________________________________ How can NFTs be Carbon Neutral? According to ClimateCare.org, WAX (using the energy efficiency mode of carbon offsetting) has already offset 211 tonnes of CO2 (and counting) as of May 21, and energy consumption on the blockchain remains extraordinarily low at 0.000223 terawatts per year — officially making WAX the only carbon neutral NFT blockchain on the market. Notes: -in 2020, bitcoin WAX blockchain used 0.000223 terawatts of electricity. -0.000223 terawatts per year of electricity has a carbon footprint of about 111 tonnes per year (1 kilowatt = 0.92 pounds of CO2 footprint). -The average person in the US has a carbon footprint of 20 tonnes per year. -The entire WAX blockchain has the same carbon footprint as a mere 5.5 individual Americans per year. -in 2019, bitcoin (BTC) and ethereum (ETH) blockchains (top 2 leading blockchains) collectively used 167 terawatts of electricity. - 167 terawatts per year of electricity has a carbon footprint of about 76820000 tonnes per year (1 kilowatt = 0.92 pounds of CO2 footprint). ___________________________________________________________________________________ The Future Cities Environmental Pledge Future Cities is committed to lowering our carbon footprint. We at Future Cities will spend time to ensure that our operations are as holistically beneficial as possible to meet our triple bottom line: -The Environmental -The Social -The Financial ___________________________________________________________________________________ About WAX Blockchain: The Worldwide Asset eXchange is certified carbon neutral. Not only has WAX solved the environmental issues presented by NFTs minted on Ethereum, but also has an environmental mindset and is taking action to erase their carbon footprint. Working as a Proof of Stake system, creating carbon offset NFTs, and partnering with Climate Care, WAX has made huge strides in building a sustainable future.