The Stellar Development Foundation submitted comments to the European Securities and Markets Authority (ESMA) on blockchain sustainability standards under the MiCA regulation, highlighting the Stellar network's environmental efficiencies and promoting the use of existing assessment methodologies like the Blockchain Sustainability Framework developed with PwC.
The Stellar Development Foundation (SDF) responded to ESMA's consultation on environmental sustainability impacts of blockchain consensus mechanisms as part of the Markets in Crypto Assets (MiCA) regulation. SDF advocated for a unified approach to assessing both positive and adverse sustainability impacts of blockchain technology. The foundation highlighted its 2022 collaboration with PricewaterhouseCoopers to create the Blockchain Sustainability Framework, a comprehensive tool that measures environmental footprint by evaluating electricity use, greenhouse gas emissions, e-waste, embodied carbon, and consensus mechanism differences. SDF also urged regulators to adopt a holistic ESG approach that considers environmental, social, and governance impacts beyond just technology sustainability. The submission emphasizes SDF's commitment to working with policymakers globally to develop clear regulatory frameworks for blockchain technology.
