Ripple, a blockchain company, has committed $100 million to help accelerate carbon removal and modernize these markets through investments in innovative carbon removal companies and sustainable financial tech platforms.
According to Ripple’s press release, Ripple plans to also create a “portfolio long-term, additive, science-based carbon credit, back innovative carbon removal technology companies and market-makers,” according to the official press release. Some of these will be used to fulfill its own commitment to net-zero within ten years. Ripple Chief Brad Garlinghouse spoke out about the commitment.
“Our $100 million commitment to climate change is a direct response the global call for action by companies to address it through deploying resources including strategic capital and innovative technology. Carbon markets can be a powerful tool in achieving climate goals.
He also highlighted that the blockchain technology and cryptocurrency industry can play a catalytic part in facilitating carbon markets to reach their full potential. This includes driving liquidity and traceability to what Garlinghouse considers a “fragmented and complex market.”
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.