Aventus Network Drives Sustainability of Blockchain Industry with Carbon Neutral Status
October 04, 2022
As part of efforts to further minimise already-low environmental impact, Aventus Network offsets carbon emissions for 2021/2022 as part of wider plan to minimise environmental impact
4 October, 2022 – London, UK: Enterprise-grade blockchain Aventus Network today announces that it has achieved carbon neutral status for 2022, with plans to continue in future years.
The move is the latest in Aventus’ long-standing focus on sustainability, starting from its inception: as a proof of stake blockchain, Aventus is significantly more environmentally friendly than traditional proof of work methods that many larger blockchains leverage, illustrated by the Aventus Network blockchain having one of the lowest energy consumption requirements per transaction in the industry.
Aventus commissioned UK-based Carbon Footprint Ltd to verify the Aventus Network blockchain’s carbon footprint calculation based on the energy data Aventus Network provided relating to the electricity consumption of their data servers. Carbon Footprint Ltd uses 2022 emission factors developed by the Department for Environment, Food and Rural Affairs (DEFRA) and the Department for Business, Environment & Industrial Strategy (BEIS) for reporting emissions.
According to Carbon Footprint, the Aventus Network blockchain fully offset the carbon dioxide emissions from their energy consumption in their data centres for a total of 20M transactions from February 2021 – August 2022 by supporting a global portfolio of carbon reduction projects verified by the Verified Carbon Standard (VCS), including wind and solar energy generation projects across India, Asia and South America.
Aventus Network’s energy consumption is just 0.001kWh per transaction – compared to Ethereum’s energy consumption of over 238kWh per transaction (as of January 2022).
Alan Vey, Founder & Chairman of Aventus, commented: “Blockchain’s enabling of decentralised security can be a huge force for good in the world – but there’s little point of this if the industry feeds the increasingly-urgent issue of climate change. We’ve long taken our responsibility to ensure businesses can leverage the benefits of blockchain sustainably, demonstrated by our extremely low energy consumption, which we are constantly striving to further reduce. Achieving carbon neutrality is not the end goal – it is simply the next step in a perpetual quest to achieve maximum impact for businesses with minimum impact on the world. And because transparency is equally important to us, all the documentation verifying all our claims around sustainability is publicly available on our website.”
Christian Risoli, Environmental Consultant at Carbon Footprint Ltd, added: “Aventus is leading the way in the proof-of-stake blockchain market, through its commitment to sustainability. By ensuring that the Aventus Network’s blockchain servers is carbon neutral, Aventus is not only supporting the global need for renewable energy sources, but paving the way for other blockchain companies, and the industry as a whole, to adopt more sustainable practices.”
All documentation verifying the claims made in this press release are publicly available at aventus.io.