l;dr: A new crypto fund-the first of many-makes carbon offsets a core of the value proposition.

One of the biggest critiques of Bitcoin has been how much energy it consumes.

I’m not going to whitewash it, it’s a lot (though not as much as people fear) and even though I think it’s worth it, I am certainly sensitive to some of the concerns.

Which is why I think it’s exceptionally exciting that Moss.earth, the world’s largest carbon credit platform and the leader in blockchain-based tokenized credits, has created a partnership with One River Asset Management of Greenwich, CT that integrates carbon offsets into crypto asset ownership.

(Full disclosure: I’m an advisor to Moss)

There’s a really nice write up of the offering on Bloomberg, but basically here’s how it works.

For each Bitcoin that One River purchases on behalf of their fund, they will purchase 2 MCO2 tokens (available on Uniswap as a pair with ETH and USDC).

Each MCO2 token represents 1 Gigaton of avoided carbon emissions, which have been validated in multiple ways by 3rd parties (for more, see here) as coming from preserved areas of the Amazon.

Then, because the MCO2 tokens live on the blockchain, One River can provably “burn” them (i.e. destroy) which demonstrates their proof of commitment to sustainability and a willingness to put their money where their mouth is.

With so much attention given to sustainability across the board and especially in the world of crypto, it’s great to see an initiatives that shows it is possible to be pro-growth, pro-crypto, and pro-green all at the same time.

I expect more and more funds to take a similar path, declaring their belief in Bitcoin while simultaneously demonstrating a commitment to the environment and preserving the Amazon.