Crypto solutions provider Ripple has pledged $100 million towards the climate change fight. According to the <a href="https://ripple.com/insights/the-catalytic-role-of-crypto-and-blockchain-in-climate-change/" target="_blank" rel="nofollow noopener">announcement</a>, the funds from Ripple will go towards the modernization and scaling of carbon markets while supporting long-term, high-quality carbon removal solutions.

[embed]https://twitter.com/Ripple/status/1527275787979661313?t=jRnNhoJS0RY-88IdL1mjng&amp;s=19[/embed]

Acknowledging the increasing demand for such solutions and the need for cross-industry cooperation, Ripple CEO Brad Garlinghouse commented,

“Our $100 million commitment is a direct response to the global call to action for companies to help address climate change by deploying resources including innovative technology, strategic capital and talent. While reducing emissions and transitioning to a low-carbon future are paramount, carbon markets are important for meeting climate goals. Blockchain and crypto can play a catalytic role in allowing carbon markets to reach their full potential bringing more liquidity and traceability to a fragmented, complex market.”
<h3>The Role of Blockchain in Scaling Carbon Markets</h3>
Blockchain technology and cryptocurrencies have long been criticized for their perceived environmental impact. Often overlooked is the industry’s ability to add value to carbon markets. Blockchain’s decentralized nature makes it easy to create, validate and launch products. It would also bring more scalability and transparency to carbon markets. Tokenisation can be used to create value for buyers while ensuring accurate prices.

Ripple’s $100 million fund will target specific sustainability initiatives including the creation of an inventory of high-quality carbon credits. The company will also invest in carbon removal companies like Xange.com and CarbonCure while backing the development of tools for carbon credit NFTs. Robert Niven, Chair and CEO of CarbonCure Technologies said,

“Ripple’s strategic investments will have a significant impact on advancing carbon removal innovations, improving carbon credit delivery, and growing global carbon market tools and solutions. We applaud Ripple’s leadership in ensuring transparency and verification in this rapidly expanding field.”

The blockchain solutions provider has also committed to continued partnership with global climate and conversation leaders to develop new climate solutions. Ripple will also work with standards organisations and carbon offset programs to streamline carbon credit metadata such as its project origin, geography, and methodologies used by carbon credit NFTs on blockchains like the carbon-neutral XRP Ledger (XRPL).

Ripple has been at the forefront when it comes to playing a role in issues that impact the world. It also <a href="https://www.cryptoknowmics.com/news/ripple-shows-support-for-ukraine-donates-1m/">donated $1M</a> to Ukraine to help it combat the Russian army last month.

Ripple to Invest $100 Million in Carbon Markets

Crypto solutions provider Ripple has pledged $100 million towards modernising carbon markets & supporting long-term, high-quality carbon removal solutions..

Tukiya is an IT student and blockchain enthusiast. She writes about all things blockchain, from cryptocurrencies and DeFi to NFTs and Web3.

Ripple to Invest $100 Million in Carbon Markets

Top Picks