" class="no-js "lang="en-US"> CoinFund partners with Apex and Nori
Wednesday, February 01, 2023
Saltedge Report

CoinFund partners with Apex and Nori to move towards a more environmentally conscious web3

CoinFund, a leading web3-focused investment firm, is proud to announce its partnership with emission assessment leadeir, Apex Group, and transparent carbon removal leader, Nori, to calculate and offset its 2021 bitcoin carbon footprint as part of its active engagement with sustainability efforts across web3.

Working closely with CoinFund, Apex delivered an independent, in depth assessment of the carbon emissions associated with the firm’s bitcoin exposure by 1) evaluating transactional Bitcoin volume, 2) leveraging Cambridge University geographic hashrate data to assess miner use of renewable energy and 3) calculating the firm’s carbon footprint related to this activity. With this calculation in hand, CoinFund partnered with Nori to physically remove an equivalent amount of emissions from the atmosphere through carbon abatement and sequestration. Nori’s web3 native carbon offset solution enabled CoinFund to pay farmers in Nebraska to use sustainable techniques that promote soil carbon sequestration, as measured by NRTS (Nori Carbon Removal Tonnes).

Speaking on the partnerships, Chris Perkins, president of CoinFund said: “CoinFund is excited to partner with Apex and Nori to pioneer a scientifically based, innovative bitcoin carbon offset program that supports the Crypto Climate Accord. Efforts like this will offer investors more clarity, confidence and choice when evaluating and investing in web3. Environmentally conscious investing is a cultural imperative at CoinFund, and we will continue to prioritize sustainable initiatives to deliver the promise of web3. ”

Apex follows industry best practice reporting standards and regulations, such as the TCFD, CDP, GHG Protocol, SFDR, DEFRA, EPA and more, to understand and quantify each client’s carbon footprint. CoinFund and Apex Group are actively benchmarking CoinFund’s performance versus the rest of the sector, international standards, and their own evolution over time. CoinFund knows that scaling these efforts is essential and, with its commitment to the Crypto Climate Accord, hopes to lay out pathways for its portfolio companies and the greater web3 community to engage meaningfully with environmentally conscious partners with the aim to move towards 100% renewably-powered blockchains by the 2025.

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