Upbit SG Goes Net Negative Carbon Footprint

Upbit Singapore announced that it has offset all carbon footprint since its incorporation and have went beyond its total emissions by purchasing additional credits, allowing it to achieve Net Negative Carbon Footprint.

September 28, 2021. By News Bureau

Upbit Singapore (Upbit SG) announced that it has offset all carbon footprint since its incorporation and have went beyond its total emissions by purchasing additional credits, allowing it to achieve Net Negative Carbon Footprint.

Upbit SG achieved this by assessing its carbon footprint, establishing a Carbon Management Plan (CMP), and offset residual emissions using high quality carbon credits from Gold Standard. The GHG inventory has been verified in a report by TEMBUSU Asia Consulting Pte. Ltd., a leading sustainability consulting company in Asia.

Achieving net negative carbon footprint is the result of Upbit SG's long-term strategy embodied in its CMP, includes consideration into its physical location, IT infrastructure architecture, business operation and outsourcing arrangements. Since its incorporation in 2018, Upbit SG has been strategically located in Keppel Bay Tower, Singapore's first Green Mark Platinum Zero Energy commercial building.

Additionally, optimising Upbit SG's cloud-native IT infrastructure reducing further both its carbon foot print and operation cost. The pandemic-induced working from home arrangement has also unexpectedly helped to reshape its business operation by reducing travel related emissions during the current pandemic period and beyond. To better control scope 3 of its GHG emissions, Upbit SG has incorporated GHG evaluation into its outsourcing consideration.

"Climate Change is a less acute but much more devastating crisis than pandemic. As it is rooted in our way of life, we cannot tackle the problem without changing it. As a start to Upbit SG's carbon initiative, we have redefined our business process to achieve net negative emissions. Moving forward, we are actively building technologies and businesses to find new solutions to this old problem." said Alex Kim, Upbit Singapore CEO.
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