The coalition includes 30 different groups and institutions merged to investigate how to leverage Web3 tech like cryptocurrencies and blockchain to help the world become carbon neutral.
“An important and unique aspect of Web3 is that it uses technology to support and reward direct community engagement and action,” said WEF head of digital assets Brynly Llyr.
The coalition will examine how to add “carbon credits” to the blockchain. Partners include Accenture, the Crypto Council for Innovation, Rainforest Partnership, the Sustainable Bitcoin Standard, Zero Labs and others.
The WEF has been scrutinized for promoting the COVID-19 pandemic to achieve a “great reset” where global economies use private and public organizations to fight climate change.
During this year’s forum, WEF speaker and Norwegian Finance CEO Kjerstin Braathen said people should expect “pain” and “energy shortages” as the world pursues the WEF’s climate change agenda.
“We need to accept that there will be some pain in the process,” Braathen said.
“The pace that we need [to end climate change] will open up for missteps. It will open up for shortages of energy. It will create inflationary pressures, and maybe we need to start talking about that — that pain is actually worth it.”
“Because if we don’t, there’s no business case; there’s no economy; there’s no welfare. But so far, I think we have been a little bit careful actually talking about the pain in the short term that is likely to come from this very important change.”
Its move into the digital currency space is not the only concerning WEF move. Other questionable ideas by the WEF include a call to end private car ownership and suggesting that the sun be blotted to cool the planet.
“MIT scientists say ‘space bubbles’ could help reverse climate change by reflecting the Sun’s heat away from Earth,” a WEF video explains.
“Scientists say cutting out just 1.8% of the Sun’s rays would fully reverse global warming.”