This paper covers how both Proof of Work and Proof of Stake blockchains could qualify for ESG investing. The intense debate around the environmental impact of blockchain technology has made it into mainstream discourse and we would like to offer a more nuanced point of view on the topic. As such, we examine how miners reduce the carbon footprint of Proof of Work blockchains and how Proof of Stake radically diminishes the energy demands of achieving consensus.

Highlights from the paper:

• How miners use renewable energy and co-location to mitigate the environmental impact of Proof of Work blockchains like Bitcoin
• The vastly reduced energy consumption of Proof of Stake blockchains like Ethereum 2.0
• The social contribution of blockchains in general, irrespective of the consensus mechanism they use