KPMG, an accounting firm, released a report on Bitcoin and ESG (environment, social and governance) issues. The Big Four professional services firm is supposed to have found that Bitcoin “appears to provide a number of benefits across an ESG framework,” stated Cointelegraph.
With insights from the report, emissions are a more significant indicator of environmental damage than energy usage. It is expected that Bitcoin (BTC $29,117) emissions in relation to those of other sources that ranged from tobacco to tourism was the second smallest contributor behind “Video (US).” “Bitcoin’s emissions may be lower than often discussed,” Cointelegraph added.
Sources revealed that the report repeated common strategies for improving Bitcoin’s carbon footprint, such as using more renewable energy and energy produced from methane for mining, Cointelegraph highlighted.
Furthermore, it is believed that “This results in a system that cannot be abused or misused by those in power or even individuals with ulterior motives due to its decentralisation,” Cointelegraph concluded.
(With insights from Cointelegraph)