8 ways crypto mining companies can effectively embrace ESG practices

cointelegraph.com:

Companies across industries are focused on improving their environmental, social and governance practices, and with good reason. In addition to having the desire to do good for its own sake, businesses are very aware that more and more investors are taking a company’s ESG standards and practices into account when making investment decisions.

Crypto mining companies would do well to look into how they too can keep ESG practices in mind, and in light of a common criticism levied at the crypto industry — that it has a large carbon footprint — they may want to begin by focusing on energy efficiency and emissions. Below, eight members of Cointelegraph Innovation Circle share tips to help crypto mining companies adopt or enhance ESG practices and share that work with fellow industry members and the public.

While it’s clear how to make mining more sustainable, the implementation can still be lengthy and expensive. Joining and engaging with online mining communities will allow you to communicate with other successful ESG-savvy mining enterprises. Hearing advice and success stories from your peers will help you develop a strategy for implementing ESG best practices. – Sheraz Ahmed, STORM Partners

Prioritize energy efficiency and utilize renewable energy sources. By investing in energy-efficient mining equipment, optimizing mining operations and tapping into solar, wind or hydroelectric power, mining companies can significantly reduce their carbon footprint and contribute to a more sustainable crypto ecosystem, thereby appealing to environmentally conscious stakeholders. – Tomer Warschauer Nuni, Kryptomon

Use renewable energy if possible. Or if not, use only excess energy that would otherwise have gone to waste. For example, if a