During the opening of the global climate summit, April 22, U.S. President Joe Biden announced a plan that his government will work to ensure a plan to achieve emissions reductions of 50% from 2005 levels is implemented by 2030. Bonface Landl notes that the goal of this plan is to keep global warming below 1.5°C, and that warming at 1°C has already occurred. Scott Detrow of NPR pointed out that “Biden, McCarthy and his special climate envoy John Kerry all regularly refer to the coming decade as a make-or-break window for drastically reducing emissions.”
Focusing on Infrastructure to Drive Emissions Reductions
The hope is that by focusing on Biden’s $2 trillion infrastructure plan more sustainable options for transportation – trains, ships, electric vehicles, etc. as well as creating a more sustainable grid – can help reduce those emissions. Through focusing on new climate policies, the goal is to row industrial union jobs that can support this shift to a sustainable infrastructure.
Detrow quoted Brian Deese, Biden’s National Economic Council director, as having said, “It has to be that Americans see and experience that the investments in building out a more resilient power grid actually improve their lives and create job opportunities for them or their neighbors or otherwise.” There is much room for economic growth in such a shift, as overhauling the grid will require innovation, jobs, and production.
When it comes to investing, it’s important to support efforts to reduce emissions and shift to more sustainable means of providing energy and transportation. The goal is to find a way to monetize and incentivize those efforts that support sustainability and renewable energy, thus helping to reduce emissions.
Cryptocurrency Mining’s Role in Greenhouse Gases
Cryptocurrency mines have recently come under fire for their intense energy usage contributing to greenhouse gases while performing proof of work puzzle solving. In fact, the energy used to mine cryptocurrencies such as Bitcoin has been reported to use more energy than some nations. EcoChain remains committed to sourcing only clean energy / green power for its cryptocurrency mining operations and as such supports the president’s plan for emissions reductions. Further, cryptocurrency mining can be a leader in driving clean energy demand and production that can benefit other industries and communities as it grows.
It’s not enough for governments to be behind supporting emissions reductions and clean energy, innovators in industry must be there to provide the technology and demand to make such shifts possible.