Fintech firm Mogo Inc. has launched its “green” Bitcoin initiative, which is touted as the world’s “first climate-positive” offering of the digital token.
- Under the initiative, Mogo will plant enough trees to offset the carbon dioxide emissions produced by mining every Bitcoin purchased in its platform. The initiative also covers all Bitcoin holdings of the platform’s members.
- Mogo has committed to planting trees that will offset 500,000 pounds of carbon dioxide for each Bitcoin available on its platform, offsetting over 79,000 pounds of carbon dioxide produced during mining.
- Mogo Chief Executive David Feller said Bitcoin is the best-performing asset class of the past decade, but its environmental impact and the emissions due to mining activities are among the greatest problems.
- Feller said the initiative will allow buying Bitcoin “good for the planet” and arguably, one of the most environmental, social, and governance-oriented investments.
Mogo has over 1.6 million members, with operations in Europe, North America, and the Asia Pacific region. MOGO is up 6.84% premarket, while BTC is down 1.06%.