TechFlow News — According to official updates, the FTX Foundation has launched the "FTX Climate" initiative, stating, "We believe everyone has a reason to care about climate change, and we're glad to do our part." The initiative includes: 1. Achieving carbon neutrality for this year; 2. Funding research that we believe can make a significant impact; 3. Supporting carbon removal solutions to help accelerate their growth; 4. Special projects.
The FTX Foundation plans to spend at least $1 million annually through the "FTX Climate" program. To date this year, it has spent $1,616,000, with an additional $1,200,000 allocated to long-term initiatives. FTX founder Sam Bankman-Fried tweeted that they donated $1 million to purchase approximately 100,000 tons of carbon offsets, neutralizing the impact of their blockchain activities; committed at least $1 million toward permanent carbon capture and storage; and have already provided around $500,000 in support of other research efforts aimed at mitigating climate change.
