Ripple and Nelnet announce a clean energy fund that aims to save over 1.5 million tons of carbon emissions in the United States.
The efforts of the crypto industry to become noticeably “greener” are increasing more and more. A current example of this is provided by the payment service Ripple. After all, he and Nelnet Renewable Energy invested 44 million US dollars in one of Nelnet’s solar energy funds. This goes from a current one joint communication of both companies.
Ripple will be the majority investor in the association, which will fund solar energy projects across the United States. The solar projects funded by the joint venture are estimated to offset more than 1.5 million tons of carbon dioxide over a 35 year period.
Ripple is at the forefront when it comes to clean energy
This corresponds roughly to the amount of carbon dioxide emissions that result from the consumption of 583 million liters of gasoline, as the communication says.
We look forward to working with Nelnet as we pursue our goal of reducing the carbon footprint of financial services worldwide and delivering on the promise of a carbon negative cryptocurrency industry
said Ken Weber, director of social impact at Ripple. It is by no means Ripple’s first partnership that aims to reduce the carbon footprint of the crypto industry. A carbon-neutral CBDC solution was recently launched in the Kingdom of Bhutan.