The Liechtenstein Bankers Association is seeking to reduce its carbon footprint. To this end, it is working with the environmental platform KlimaDAO. Together, its operational emissions in both 2021 and 2022 were able to be offset.
In a press release, the climate platform KlimaDAO has highlighted the need for banks to deal with financed emissions. According to the press release, these are bank investments in projects that have high a carbon footprint. KlimaDAO has already agreed a collaboration with the Liechtenstein Bankers Association (LBA), through which all operational emissions in 2021 and 2022 were offset.
For its tech stack, KlimaDAO relies on climate-positive NFTs (Non-Fungible Tokens). The LBA launched these together with the Vaduz-based firm Swappable. In so doing, the LBA has proven that tools for using what is known as Web 3 can already be leveraged in the area of climate protection. As a result, the adoption hurdles are often not quite as high as assumed.
Above and beyond this, however, further efforts in the area of sustainability will be necessary, although these could, for example, be supplemented by the offerings from KlimaDAO and Swappable.