As a values-driven business, sustainability has been at the core of what we do since the company was founded.
Since our inception, we’ve been committed to climate neutrality for our Scope 1, 2 and 3 emissions. As a digital tech company with a decentralised working policy, we have a relatively low operational carbon footprint, but we recognise that the carbon footprint of some digital currencies is significant, and we have an important role to play in addressing this.
Zumo’s mission is to bring the benefits of blockchain to everyone, whilst protecting the future of our planet. We believe the digital asset 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.
Our values are at the core of the company and they inform everything that we do. We believe that transformational change is required, and we want to be part of that change.
In line with our values, we will:
- As a minimum, protect the environment, prevent pollution, and meet our compliance obligations. We will do this through careful selection of suppliers, partners and products, using circular economy principles, and low carbon options where possible.
- Commit to climate neutrality for our Scope 1, 2 and 3 emissions from inception of the company, whilst acknowledging that the carbon footprint of some blockchains is far more significant than our own footprint (see ‘Love the Adventure’)*.
- Seek to ensure that our decisions and actions benefit people and planet.
- Involve all employees in decision-making and encourage our staff to help us to push boundaries.
- Further nurture and develop our WasteAid partnership, including fundraising, raising awareness and making donations to support WasteAid.
- Act in support of achieving the Sustainable Development Goals, reinforcing our commitment to these by being a signatory to the UN Global Compact and the SME Climate Commitment, and reporting progress annually.
- Work towards achieving B Corps certification to challenge us further and to provide transparency through a trusted 3rd party certification.
Love the Adventure
- Seek to push boundaries. Zumo’s direct environmental impact is currently limited, but the electricity consumption of some blockchains is significant. We will seek sustainable solutions where possible, and work collaboratively to push the sector to reduce its carbon footprint via Zumo’s Net Zero Strategy and as a proud signatory to the Crypto Climate Accord.
- All of our staff and contractors have a duty to ensure that this policy is complied with. However, responsibility for ensuring that the policy is fully implemented lies with the CEO.
At Zumo, sustainability is one of our founding values and baked into the core of what we do.
Zumo Zero, our corporate three-pillar net zero strategy, sets out the roadmap to an extremely ambitious target of net zero by 2030 – encompassing the carbon footprint of Zumo the company, but also the carbon footprint of the blockchains we work with and the wider crypto ecosystem.
We work closely with all our partners to ensure ESG alignment and enable crypto to be effectively embedded in existing corporate net zero strategies.
Ever since we were founded, we’ve committed to being climate neutral for our Scope 1, 2 and 3 emissions.
- This includes business travel, staff commuting, teleworking, purchased goods and services, capital goods, and downloading and use of the Zumo App.
- We will achieve this by avoiding emissions where possible, reducing the remaining emissions as far as possible, and offsetting any residual emissions using a certified scheme.
We will develop ways to engage our users, address the indirect emissions of our crypto holdings, and strategically align ourselves with blockchains that have lower energy use by design.
- We’ve identified and will continue to investigate the best ways to neutralise the carbon footprint of crypto holdings and transactions.
- We will look to connect more energy-efficient and sustainable blockchains within Zumo products.
- We will inform and engage our customers relating to the electricity usage of blockchains (see our Decarbonising Crypto page for further information about our work in this area).
- We will include key targets and metrics in this area as the strategy develops.
Zumo is a signatory to both the Race to Zero’s SME Climate Commitment and the Crypto Climate Accord. We are actively engaged in supporting the Crypto Climate Accord, and we commit to working with industry partners to engage in knowledge sharing and help drive down the carbon footprint of our industry.
As a signatory of the SME Climate Commitment, we commit:
- To halve our greenhouse gas emissions before 2030;
- To achieve net zero emissions before 2050 (Zumo’s own ambition is to achieve this by 2030); and
- To disclose our progress on a yearly basis.
As a signatory of the Crypto Climate Accord, we commit:
- To achieve net-zero emissions from electricity consumption associated with crypto-related operations by 2030; and
- To report progress toward this net-zero emissions target using best industry practices.
At Zumo, we take our commitment to sustainability very seriously – as do customers. 84% of users* agree environmental sustainability in crypto is an important topic the sector should be working urgently to address.
And the same proportion are more likely to use a crypto wallet that offers built-in features that play a role in reducing the environmental impact of crypto. That’s a huge opportunity, for Zumo and for our clients.
For fintechs, banks and payment providers looking to engage with the digital asset space – but perhaps wondering how this reconciles with their net zero commitments – this resource page publicly showcases the Zumo journey so far. Here we share key learnings from our own business, and some of the practical solutions options available to crypto providers. So that you can build ESG-aligned, future.proofed crypto offerings for your own operation.
If you’re looking to embed crypto into your business – and your net zero strategy – drop us a line!
Decarbonising Crypto: Towards practical solutions
Set against the backdrop of a rapidly-evolving and maturing industry, growing regulatory interest and fierce public scrutiny, the topic of energy consumption in crypto is as prominent as it has ever been.
For practitioners, market participants and those wishing to educate themselves further about the topic, our latest ‘Decarbonising Crypto’ report offers a practical and solutions-focused survey of the current environment, drilling down into the outcomes of Zumo’s own ‘Zero Hero’ pilot implementation project and presenting a pragmatic, solutions-driven discussion of the frameworks we adopt today and the opportunities we look to embrace tomorrow.
Decarbonising Crypto: A state of play report
Kicking off the Zumo Decarbonising Crypto report series, Zumo’s 2021 state of play report united expert voices from across the sector to gather opinions and perspectives from solutions providers, industry participants and environmental research on key questions of methodology, benchmarking, collaboration and technology.
The goal: get to the facts of the polarised crypto decarbonisation discussion and provide the common base of understanding and shared point of departure for reasoned, nuanced discussions of the topic.
A recommended first read for those looking for an overview introduction to the decarbonising crypto debate.