Ripple, one of the world’s leading providers of enterprise blockchain and cryptocurrency solutions, recently announced that they have collaborated with Nelnet Renewable Energy through a $44 million joint investment. According to an official press release, Ripple funded the majority of the latest joint investment. The joint investment will fund solar energy projects throughout the U.S. in support of the transition to a cleaner and more stable energy future.
Ripple is part of the climate accord
In the recent announcement, Nelnet mentioned that the solar projects financed by the Ripple Nelnet Renewable Energy Fund are estimated to offset over 1.5 million tons of carbon dioxide over 35 years. Ripple is part of the crypto climate accord. Ripple formed several partnerships in 2021 to facilitate a carbon-neutral future for global finance. Last year, the blockchain company collaborated with Energy Web and the Rocky Mountain Institute to decarbonize the XRP Ledger. Crypto mining has been a hot topic of discussion inside and outside of the crypto community because of its environmental impact. Many have advocated the use of clean energy for cryptocurrency mining.
Ripple and Nelnet show commitment to reducing carbon footprint
Commenting on the recent announcement, Ken Weber, Head of Social Impact at Ripple, said:
“Guaranteeing a clean energy future is a major priority across every industry, not only to drive future economic growth but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it’s evident that the technology will underpin our future financial systems. We’re excited to work with Nelnet as we pursue our commitment to reduce the carbon footprint of financial services globally and to deliver on the promise of the carbon-negative cryptocurrency industry.”