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FTX Announces Latest Project to Combat Climate Change

FTX Crypto Derivatives Exchange has announced the launch of FTX Climate, with the goal of becoming carbon-neutral. 

Crypto-exchange FTX previously stated its intention to become carbon-neutral before the end of 2021 and now, has laid out a number of steps in order to achieve that goal. The launch of FTX Climate was announced by the exchange on Tuesday and is pitting FTX head-to-head with carbon usage and climate issues.

According to the official press release, “The FTX Foundation is centered around our desire to live in a world where everyone has the same opportunities that we do. Unfortunately, climate change poses a significant threat to that reality right now and the future.” The statement goes on to say that everyone should care about the climate and that FTX is “excited to do our part.” 

FTX Climate plan of attack

FTX breaks down the core beliefs behind FTX climate into three separate categories. First, FTX believes that climate change will have a negative impact on everyone and that we should all do something about it. Secondly, the effects of climate change will mostly impact those who contributed the least to the problem.

Poor and underprivileged individuals will be more vulnerable, according to FTX, and something must be done to protect them and future generations. Finally, FTX points out that the climate change issue is our own doing and is a problem that can be solved. “The largest solutions won’t be achieved through individual sacrifice.” the announcement states. 

The news from the exchange goes on to state that they are not claiming to be experts or authorities on climate change. Despite this, the group is approaching the program to understand its place in the world of environmental change, and is following the advice of experts in the field. “As new information arises, so will our strategies.” 

FTX says it is committed to keeping the focus on impactful solutions and not waste time spinning its tires. They believe that big changes must be made to reverse the damage done and “we won’t get there by arguing over what type of straw is in your iced coffee.” 

According to FTX, the initial program will consist of funding research that could have an actual impact on climate change, supporting carbon removal solutions and other special projects to be determined. Finally, FTX stated they are committed to meeting the claim that it will be carbon-neutral by the end of 2021.

FTX climate will spend no less than $1 million annually to help achieve these goals. “We have spent $1,616,000 so far this year with an additional $1,200,000 committed to longer-term initiatives.” 

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