Ripple recently announced that it has partnered with Nelnet Renewable Energy. They have collectively invested $44 million to generate clean energy.
Partnership with Nelnet to reduce CO2 emissions
According to the official press release Ripple funded most of the last joint investment. The investment will fund solar projects across the US to support the transition to a cleaner and more stable energy future.
In the recent announcement, Nelnet mentioned that the solar projects are estimated to offset more than 1.5 million tons of carbon dioxide in 35 years. Ripple is also part of the crypto climate agreement.
Ripple formed several partnerships in 2021 to enable a carbon neutral future for global finance. Last year, the company partnered with Energy Web and the Rocky Mountain Institute to make the XRP Ledger low-carbon. Commenting on the recent announcement, Ken Weber, Head of Social Impact at Ripple, said the following:
“Ensuring a clean energy future is a key priority in any industry. Not only to stimulate future economic growth, but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it is clear that the technology will support our future financial systems. We are excited to partner with Nelnet as we pursue our commitment to reduce the carbon footprint of financial services globally and deliver on the promise of the carbon negative cryptocurrency industry.”
Ripple carbon neutral by 2030
In September 2021, Ripple introduced a $250 million fund to support NFTs on the XRP Ledger. In the same month, the blockchain company announced a partnership with Bhutan’s central bank.
Ripple has therefore already taken several initiatives to reduce CO2 emissions. In addition, the company has made a commitment to become carbon neutral by 2030 or sooner. Scott Gubbels, Executive Director of Nelnet Renewable Energy, said:
“We are excited to have an investor platform that allows us to partner with investors like Ripple to continue our efforts to advance clean energy generation in the US.”