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Environmental Policy

Updated on Jul 31, 2024

At iov42, we are dedicated to building a platform that drives positive change, with a significant focus on climate action. Environmental concerns have been integral to our activities and technology development from the outset. Our unique platform architecture prioritises high performance and scalability while ensuring energy efficiency, achieved through our novel consensus mechanism that surpasses the energy consumption of traditional software infrastructure. Recognising our responsibility to contribute to a sustainable society, we are committed to the following principles:

  • Complying with or exceeding all relevant environmental legislation.
  • Minimising resource consumption, waste, and pollution within our offices and operations.
  • Continuously improving our environmental performance through regular monitoring and reviews.
  • Effectively managing our environmental impacts.
  • Employing pollution prevention and environmental best practices in all our activities.
  • Maintaining eco-friendly travel practices, particularly by reducing air travel.
  • Integrating environmental considerations and impacts into our decision-making and activities.
  • Promoting environmental awareness among our employees and encouraging environmentally responsible practices.
  • Communicating our environmental objectives and commitments to staff, customers, investors, and other stakeholders.
  • Encouraging our partners to adopt similar environmental principles.

Our Specific Actions:

  • Efficient Development Processes: Minimising the use of cloud infrastructure and ensuring nothing is running when not in use. We leverage tools from cloud providers to assist in efficient operations.
  • Energy-Efficient Design: Creating architectures that help minimise energy consumption.
  • Remote Work: Lowering our travel-related carbon footprint by working remotely.
  • Online Conferencing: Minimising work travel by utilising online conferencing; when travel is necessary, we use public transport.
  • Off-the-Shelf Solutions: Using existing software solutions to avoid unnecessary additional resource requirements.
  • Biannual Team Meet-Ups: Holding team meetings twice a year in Europe, ensuring travel does not exceed 2-3 hours.
  • Paperless Operations: Relying on digital tools to avoid paper use as much as possible; using recycled paper and eco-friendly inks when printing is necessary.
  • Carbon Offsetting: Investing in carbon offsetting projects to neutralise unavoidable emissions.
  • Sustainable Event Planning: Planning all company events and meetings with sustainability in mind, including using reusable materials, local and organic catering, and minimising waste.

By adhering to these principles and actions, iov42 aims to lead by example in our industry, promoting sustainability and environmental responsibility in every aspect of our operations.

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