World Economic Forum launches Crypto Sustainability Coalition

The World Economic Forum has launched the Crypto Sustainability Coalition, which will investigate how Web3 and blockchain tools can be leveraged to achieve positive climate action. 

Members of the coalition will explore the potential positive impacts these technologies can bring to environmental and social agendas. 

Brynly Llyr, head of blockchain and digital assets at, World Economic Forum said, “An important and unique aspect of Web3 is that it uses technology to support and reward direct community engagement and action.

“This means we can coordinate the work of many individuals directly with one another, enabling collective action without centralised control – a powerful accelerator for grass roots action.”

The Crypto Sustainability Coalition is a public-private initiative hosted by the World Economic Forum and comprises 30 partners. It is convening working groups to tackle three specific issues. 

Firstly, energy usage, this working group will analyse the crypto industry’s consumption of energy and materials to build a clearer picture of its impacts on climate and nature.

Secondly, Web3’s potential for climate action, this working group will investigate ways in which Web3 innovations could tackle challenges facing the low-carbon transition at the pace required to hit the Paris Agreement’s targets.

For example, the decentralised nature of crypto-mining and its ability to operate at off-peak times may provide a new business model for utilities and investors looking to develop renewable energy microgrids.

Finally, “On-chain” carbon credits – members of the coalition believe blockchain-based carbon credits could address current flaws in global carbon markets, including: the lack of transparency around carbon offsets for either providers or buyers; the failure of markets to remove carbon emissions at the scale and pace required; and the inability of millions of the world’s smallholder farmers, forest stewards and Indigenous communities to participate in or benefit from carbon credit markets.

The Crypto Sustainability Coalition will investigate, collate and highlight industry standards, best practices and examples of tangible action that attest to how Web3 technologies can support communities most vulnerable to the impacts of climate change.

The coalition said its wider aim is to foster a broad education campaign on what Web3’s potential and capacity look like, to better inform governments on how they regulate these technologies and to incentivise investment and research into their development.

The coalition’s partners include Accenture, Avalanche, Avatree, CC Token, Circle, Climate Collective, and then Crypto Council for Innovation.

The new coalition is part of the Crypto Impact and Sustainability Accelerator (CISA), a grant-funded initiative launched by the Forum in January 2022 with a mission to encourage a greater understanding of the environmental, social and governance (ESG) impacts of crypto technologies.