{"id":12710,"date":"2023-08-03T03:18:32","date_gmt":"2023-08-03T03:18:32","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12710"},"modified":"2023-08-03T03:18:33","modified_gmt":"2023-08-03T03:18:33","slug":"kpmg-touts-esg-benefits-from-bitcoin-counters-misperceptions-in-new-report","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12710","title":{"rendered":"KPMG touts ESG benefits from Bitcoin, counters misperceptions in new report"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>KPMG has released a report on Bitcoin and ESG (environment, social and governance) issues. The Big Four professional services firm found that Bitcoin \u201cappears to provide a number of benefits across an ESG framework.\u201d<\/p>\n<p>Looking at each component of ESG separately, the report noted that emissions is a more significant indicator of environmental damage than energy usage. It contextualized Bitcoin (BTC) emissions in relation to those of other sources that ranged from tobacco to tourism and found it was the second smallest contributor behind \u201cVideo (US).\u201d It concluded:<\/p>\n<p>\u201cBitcoin\u2019s emissions may be lower than often discussed.\u201d<\/p>\n<p>The report repeated common strategies for improving Bitcoin\u2019s carbon footprint, such as using more renewable energy and energy produced from methane for mining.<\/p>\n<p lang=\"en\" dir=\"ltr\">BREAKING: KPMG, one of the \u2018top 4\u2019 largest accounting firms in the world acknowledges the positive impacts #Bitcoin can have on the environment. pic.twitter.com\/LjxvELm3yg<\/p>\n<p>\u2014 Dennis Porter (@Dennis_Porter_) August 1, 2023<\/p>\n<p>Bitcoin\u2019s contribution to money laundering is tiny compared to the total amount of\u00a0 money laundering worldwide, the report said. Money laundering accounts for 2-5% of global gross domestic product, according to United Nations Office on Drugs and Crime statistics cited in the report, but accounts for just 0.24% of Bitcoin transactions, per Elliptic. It also noted that laundered money was received in Bitcoin far less than in Ether (ETH), stablecoins or altcoins, and Anti-Money Laundering (AML) and Know Your Customer (KYC) measures could be applied at the point of off-ramping the coin, even though there are no AML\/KYC requirements for transacting with it. <\/p>\n<p><strong><em>Related: Metaverse \u2018explosion\u2019 will be driven by B2B, not retail consumers: KPMG partner<\/em><\/strong><\/p>\n<p>Positive use cases were provided again, such as fundraising for Ukraine and electrification in rural Africa.<\/p>\n<p>Bitcoin\u2019s governance is robust, the report said, as its rules cannot be changed without forking:<\/p>\n<p>\u201cThis results in a system that cannot  be abused or misused by those in power or even individuals with ulterior motives due to its decentralization.\u201d<\/p>\n<p>The 12-page report uses all secondary sources and familiar use cases. It points out, however, that Bitcoin remains misunderstood. The firm offers a number of crypto-related advisory services. <\/p>\n<p><strong><em>Magazine: Bitcoin in Senegal: Why is this African country using BTC?<\/em><\/strong><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/kpmg-touts-esg-benefits-bitcoin-counters-misperceptions-new-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KPMG has released a report on Bitcoin and ESG (environment, social and governance) issues. The Big Four professional services firm found that Bitcoin \u201cappears to provide a number of benefits across an ESG framework.\u201d Looking at each component of ESG separately, the report noted that emissions is a more significant indicator of environmental damage than [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12710"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12710\/revisions"}],"predecessor-version":[{"id":12712,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12710\/revisions\/12712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12711"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}