GlobalData offers a comprehensive analysis of Block, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Block‘s ESG performance. GlobalData’s company profile on Block offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Block, a leading company in the blockchain industry, aims to attain net-zero carbon emissions by 2030, encompassing all business units and the complete corporate operations footprint, including Scopes 1, 2, and 3. In 2022, the company's total carbon footprint amounted to 377,304 tCO2e, indicating its comprehensive environmental impact. Block removed 52,000 metric tonnes of carbon through its portfolio of supported projects. The company's emissions intensity in 2022 was 56 tonnes of CO2e per $1 million in gross profit. While Block is still early in its carbon reduction journey, it has made substantial progress in reducing its emissions intensity. In 2020 and 2021, the company's emissions intensity was 87 and 74 tonnes of CO2e per $1 million in gross profit, respectively.
Block has already taken significant steps to reduce its carbon emissions. The company has been actively investing in renewable energy sources and has been purchasing renewable energy certificates to offset its direct energy usage. In addition, Block has been working on hardware sustainability initiatives to reduce its internal emissions. The company has also made investments in clean energy-based mining, including a solar-powered mining facility in West Texas. These efforts have already resulted in a reduction in carbon emissions.
Furthermore, Block has been actively involved in carbon removal initiatives. The company has supported various projects that remove carbon from the atmosphere, including biochar projects and direct air carbon capture technology. Block has also funded projects that focus on the removal of ocean-bound plastics, demonstrating its commitment to environmental sustainability.
Overall, Block is committed to achieving net-zero carbon emissions by 2030. The company has implemented various measures to reduce its emissions, including investments in renewable energy, clean energy-based mining, and carbon removal initiatives. With its ongoing efforts, Block is making significant strides towards its net-zero targets and contributing to a more sustainable future.
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