Articles

Blogs

Greenpeace Report: Wall Street's Role in Bitcoin Mining Emissions Sparks Calls for Accountability

Jun 14, 2024

Greenpeace Report: Wall Street's Role in Bitcoin Mining Emissions Sparks Calls for Accountability
Greenpeace Report: Wall Street's Role in Bitcoin Mining Emissions Sparks Calls for Accountability
Greenpeace Report: Wall Street's Role in Bitcoin Mining Emissions Sparks Calls for Accountability

Greenpeace USA released a report titled "Bankrolling Bitcoin Pollution: How Big Finance Supports a New Climate Threat," highlighting major financial institutions' role in funding Bitcoin mining, which contributes significantly to carbon emissions. The report identifies firms like BlackRock, Vanguard, and others as top financiers of Bitcoin mining operations, collectively responsible for over 1.7 million metric tons of CO2 emissions in 2022. Greenpeace criticises these institutions for not disclosing the climate risks associated with their investments in the Bitcoin mining industry, arguing that such lack of transparency undermines efforts to address the environmental impact of cryptocurrencies. The NGO calls for greater accountability and regulatory measures to address the environmental consequences of Bitcoin mining, including potential taxation and transitioning to more sustainable mining practices.