Ripple To Assist Solar Energy Projects In US With Its $44M Fund

Recently, Ripple came into a systematic ESG investment collaboration with Nelnet (a Lincoln-based firm for financial services) with allocating a joint fund of approximately $44M for clean energy to be acquired from the projects of solar energy throughout the United States, as per the formal press release. In an attempt to minimize the “carbon footprint” of the crypto industry, this joint investment will finance the projects for clean energy around the country along with playing a critical role to reduce carbon dioxide’s up to 1.5M tons during 35 years.

Ripple-Nelnet fund for renewable energy

The Social Impact Head at Ripple, Ken Weber, stated that the company is thrilled to operate in association with Nelnet because it pursues its commitment to minimizing the “carbon-footprint” developed by the financial services across the globe, as well as to fulfill the word of the establishing a carbon-negative industry of cryptocurrency. As per the announcement in the formal press release, the blockchain firm will provide the majority of the investment in the respective joint venture.

Nelnet’s Executive Director, Scott Gubbels, mentioned that the company and its staff members are extremely enthusiastic about having a platform that is the best-in-class investor to make it capable of availing the opportunity of operating with investors such as Ripple. In this way, Scott added, the company will advance its efforts to make improvements in the generation of clean energy across the United States.

Carbon Negative industry of cryptocurrency

A commitment was made by Ripple to have zero net ratios of carbon within the time till 2030 through making investments in projects that are devoted to the removal of carbon like carbon sequestration, biochar, and reforestation, as well as minimizing the emissions. By noting this, the announcement reminded that Ripple had a partnership with the “Rocky-Mountain-Institute” and Energy Web to make the “XRP-Ledger” decarbonized. Ripple is a portion of a private-sector-derived initiative named the Crypto-Climate-Accord, which works to clean the crypto industry from carbon emissions till 2030.

Ensuring a future of clean energy is a prominent priority in every industry, which not only assists in escalating future progress but also provides a guarantee of a more maintainable world. With a significant increase in the adoption of blockchain and cryptocurrency, it is obvious that the financial systems of the future will be underpinned by the technology, Weber concluded.