Crypto Investments.

We provide carbon estimates for investments in cryptocurrencies and technologies such as Blockchain and DLT.

Services We Provide

We at the Crypto Carbon Ratings Institue provide a variety of services for issues concerning the environmental impact of cryptocurrency investments.

Team Members

Our team consists of renowned scientists in the area of

climate change, environmental sustainability, computer science and cryptocurrencies.

Dr. Christian Stoll

Christian Stoll conducts research at the Center for Energy and Environmental Policy Research at the Massachusetts Institute of Technology and at the Center for Energy Markets of the Technical University of Munich. His research focuses on the implications of climate change from an economic point of view.

Lena Klaaßen

Lena Klaaßen has a background in Management and Technology with a particular focus on finance, power engineering and energy markets. She has conducted research on carbon accounting in the corporate and cryptocurrency space at TUM and MIT. Previously, she has analyzed blockchain-related firms for a venture capital fund. She now focuses on research in the field of climate finance at ETH Zurich.

Ulrich Gallersdörfer

Ulrich Gallersdörfer is a research associate in the Department of Informatics at the Technical University of Munich. His research focuses on identity management in blockchains. His interest extends to further aspects of the technology, ranging from environmental implications to data analytics applications.


Below we provide a list of our published research, research currently under review or working papers.

  • Klaaßen, L., & Stoll, C. (2021). Harmonizing Corporate Carbon Footprints. Under Review.
  • Stoll, C. & Mehling, M. (2021). Climate change and carbon pricing – overcoming three dimensions of failure. ERSS forthcoming 2021
  • De Vries, A. & Stoll, C. (2021). Bitcoins growing e-waste problem. Under Review.
  • Qin, S., Klaaßen, L., Gallersdörfer, U., Stoll, C., & Zhang, D. (2021). Bitcoin's future carbon footprint. Under Review.
  • De Vries, A., Gallersdörfer, U., Klaaßen, L. & Stoll, C. (2021). An Environmental, Social and Governance (ESG) Perspective on Investing in Bitcoin. WIP.
  • Monier, E., Stoll, C. & Wu, S. (2021). Climate change and global wine quality. WIP.
  • Gallersdörfer, U., Klaaßen, L., & Stoll, C. (2020). Energy consumption of cryptocurrencies beyond bitcoin. Joule, 4(9), 1843-1846.
  • Sillaber, C., Waltl, B., Treiblmaier, H., Gallersdörfer, U., & Felderer, M. (2020). Laying the foundation for smart contract development: an integrated engineering process model. Information Systems and e-Business Management, 1-20.
  • Gallersdörfer, U., & Matthes, F. (2020, April). Towards Valid Use Cases: Requirements and Supporting Characteristics of Proper Blockchain Applications. In 2020 Seventh International Conference on Software Defined Systems (SDS) (pp. 202-207). IEEE.
  • Stoll, C., & Mehling, M. A. (2020). COVID-19: Clinching the Climate Opportunity. One Earth, 3(4), 400-404.
  • Stoll, C., Klaaßen, L., & Gallersdörfer, U. (2019). The carbon footprint of bitcoin. Joule, 3(7), 1647-1661.
  • Waltl, B., Sillaber, C., Gallersdörfer, U., & Matthes, F. (2019). Blockchains and smart contracts: a threat for the legal industry?. In Business Transformation through Blockchain (pp. 287-315). Palgrave Macmillan, Cham.
  • Hefele, A., Gallersdörfer, U., & Matthes, F. (2019, October). Library Usage Detection in Ethereum Smart Contracts. In OTM Confederated International Conferences" On the Move to Meaningful Internet Systems" (pp. 310-317). Springer, Cham.
  • Stoll, C. Fuel Switching and Deep Decarbonization.
  • Friedl, G., Hölzl, C., Beck, D., Neumayr, L., & Stoll, C. (2019). Studie zur Vergütung der Vorstände in den DAX-und MDAX-Unternehmen im Geschäftsjahr 2018.

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