Greenpeace USA Takes On Fidelity Over Bitcoin’s Dirty Secret: Climate Pollution!
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New York, NY (March 29, 2023) Greenpeace USA activists brought an 11-foot-tall art installation, “Skull of Satoshi” to two Fidelity Investments offices in New York City yesterday to demand that Fidelity take responsibility for its role in supporting Bitcoin’s climate impact. “Skull of Satoshi,” is a giant sculpture created in collaboration with Benjamin Von Wong, to highlight the climate and societal impacts of Bitcoin.
As one of the world’s largest asset managers, Fidelity has a significant role to play in addressing the urgent climate crisis. To date, the company has promised to tackle climate change and reduce greenhouse gas emissions. With its continued support for Bitcoin, a digital currency with a large and growing climate impact, the company is undermining its ability to follow through on its climate promises.
To learn more about Fidelity Investments’ role in Bitcoin’s climate problem, read Greenpeace USA’s Briefing Paper here: Financial institutions must support a code change to clean up Bitcoin
Rolf Skar, Greenpeace National Campaign Director said: “We’ve tried to engage Fidelity Investments to address Bitcoin’s climate impact, but they’ve shown no interest in talking, much less taking action. That’s why we’re here. Bitcoin mining requires massive amounts of electricity, which contribute to carbon emissions, harm communities and exacerbate the climate crisis. But this growing problem can be solved if companies like Fidelity step up to develop solutions that work for people, the climate and Bitcoin’s future in a warming world.”
Greenpeace USA is urging Fidelity to join the solution by encouraging Bitcoin to change its code to reduce its climate impact. Bitcoin’s code relies on a process called Proof of Work to validate transactions on its digital ledger, or blockchain, which uses vast amounts of electricity from fossil fuels. Globally, the largest single source of electricity is coal-fired power plants.
The action comes as part of the ongoing campaign to hold companies accountable for their role in contributing to the climate crisis through investments in Bitcoin. Greenpeace USA is urging companies to prioritize climate commitments and push Bitcoin to come up with creative solutions to deal with its energy-hungry code.
Contact: Gigi Singh, Senior Communications Specialist at Greenpeace USA, [email protected]631-404-9977
Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental and economic systems from the ground up to address the climate crisis, advance racial justice and build an economy that puts people first. Learn more at www.greenpeace.org
