Cryptocurrencies and Environmental Sustainability: A Complex Challenge and Emerging Positive Trends for Logistics Transactions

Abstract

The relationship between cryptocurrencies and energy consumption is complex, and raises concerns due to the carbon footprint associated with mining. Discussions and initiatives to make the industry more sustainable are underway, but there remains a challenge to reconcile cryptocurrency development with environmentally friendly practices. Supply chain logistics transactions face a challenge in adapting to the digitization of transactions using cryptocurrency. Through a coherence and co-movement study, we highlight a significant correlation between the Environmental Attention Index and the Cryptocurrency Market Index, testifying to a growing awareness of environmental issues among media players. Positive trends towards sustainability are also apparent, signalling a move towards more responsible practices aligned with contemporary environmental sustainability imperatives.