The latest research from the Cambridge Alternative Finance Center (CCAF) shows that despite a significant increase in node numbers, greenhouse gas emissions from the Ethereum network have decreased by about 99.97% since the switch to proof-of-stake (POS).

CCAF stated in a report on Friday that the Ethereum network currently emits 2.8 kilotons of carbon dioxide equivalent (KtCO2e) per year, "specifically, this is equivalent to the emissions from five round-trip flights between London and New York, the annual emissions associated with energy consumption for 450 UK households, or the annual carbon sequestration capacity of 270 acres of forest."