Filecoin Green’s Drive for Decarbonized Storage Solutions
At this point, it feels a bit trite to say that climate change is knocking at our door — it’s more like it’s broken down the door and is now sitting in our living room, demanding attention. The threat level has been cranked up to “code red for humanity,” as per the United Nation’s 2022 Emissions Gap Report and the IPCC’s AR6 Synthesis Report. We’re in a global scramble to keep global warming within the somewhat “manageable” 1.5°C to 2°C range, which means we need to decarbonize, and we needed to do it yesterday.
Our digital world, a steadily growing consumer and producer of greenhouse gasses (GHGs), is not exempt from this call to action. The irony isn’t lost on us here at Filecoin Green — the global ICT sector’s carbon footprint is now on par with that of the aviation industry. Data, in all its glory, has a cost. Cloud storage alone contributes to more than 1% of global emissions. Left unchecked, that figure could balloon to 8% by the decade’s end.
This is where we, the team behind Filecoin Green, step in. We’ve committed ourselves to use the power of web3 technologies and sustainable practices to not just counteract but reverse this trend. We’re not just aiming for a carbon-neutral network; we’re striving for a carbon-negative one.
How, you ask? Meet our Energy Validation Process (EVP). This process allows Storage Providers (SPs) interested in making strong sustainability claims to publicly verify the associated data. This process is designed to be conducted on a quarterly basis, during which SPs submit data on key operational criteria for the Filecoin Green team and third-party assessors to validate. We’re talking electricity bills, energy consumption and renewable energy production stats, water usage — the works. This is how we fully validate and publicly display the environmental impact of their operations.
We’ve already completed the EVP for more than 100 minerIDs, and we’re in the process of working with SPs who collectively represent over 700 minerIDs. The result? Sustainability Claims, or what we affectionately refer to as “Green Scores.”
Our Scoring rubric is currently based on a three-tiered system, but we’re actively undergoing a revamp to a more granular, quantitative measure from 0 to 100. Think of it as a sustainability credit score that grants SPs the license to operate in initiatives across the Filecoin network.
These Green Scores aren’t just for show. We’re working to tie them to incentive systems across the network. SPs with high scores could see a boost in their reputation, faster data cap allocations for FIL+, or even access to green financing options. It turns out that saving the planet can be good for your wallet too.
So, why should the entire network prioritize sustainability? Isn’t it just an altruistic side gig? We think not. Sustainability is about more than just ecological responsibility; it’s a sound business strategy too.
Investors are attracted to firms with robust ESG strategies and comprehensive decarbonization plans. Green energy often turns out to be cheaper than traditional energy sources, and the trend is only going to strengthen. In a world where global brands like Google Cloud, Amazon Web Services, and Microsoft are sprinting towards 100% renewable energy, web3 can’t afford to lag. Aligning with web3 values of trust and transparency, sustainable practices strengthen client relationships and contribute to the overall health of the digital ecosystem.
In short, going green isn’t just about getting a pat on the back for eco-friendly practices. A high Green Score can be a game-changer for SPs, opening up new opportunities and access to green financing options, which can be strong economic drivers and key differentiators for SP’s businesses.
In the face of climate change and the dire need for decarbonization, we at Filecoin Green are committed to driving innovative, forward-thinking action not only in web3, but also across the global ICT sector. The question remains: who will join us on this journey to a greener digital future?
To learn more about Green Scores visit: greenscores.xyz. To sign-up for the Energy Validation Process, fill out this form: https://airtable.com/shrobPbrxJvrTKuas
For additional information or questions, reach out to the team here: green@filecoin.org
