CONTINUED: MUSK BANNING BITCOIN PAYMENTS TO TESLA WELL-RECEIVED
Bitcoin mining uses about the same amount of energy annually as the Netherlands did in 2019, data from the University of Cambridge and the International Energy Agency showed, generating between 22 million and 22.9 million metric tons of carbon dioxide emissions a year, according to a 2019 study in scientific journal Joule.
Guillaume Mascotto, head of ESG and Investment Stewardship at American Century Investments, a top-40 Tesla investor according to Refinitiv, said any move into Bitcoin by a company would impact the way they were viewed.
“It would affect our ESG risk views on payment companies and other firms taking large positions in crypto especially if it contributes to ‘engineering’ their bottom-lines like we saw with Tesla,” he said.
A UK-based investor, who declined to be named, said Musk’s reversal showed the ability of consumer and investor discontent to push through change,…