Ripple partnered with Nelnet to support solar energy based projects to reduce the carbon footprint level because of the Crypto industry.
Through the latest press Release, Ripple firm announced that they will jointly invest $44 million in the company to support sustainable green energy solar system based projects in the United States.
The head of the social impact of Ripple firm, Ken Weber stated that reducing the carbon footprint level because of crypto should be priority and further added
“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”
This initiative supported by the Ripple firm aimed to reduce the 1.5 million biometrical tons of CO2 greenhouse emissions.
The Nelnet firm basically has its hand largely in the student loan business. But in June 2020, they are expanding their collaborations with the other businesses. While they started their solar project initiative in 2018.
Climate pollution & Crypto
In this year on one side Bitcoin became more popular because of Tesla like companies adopting Bitcoin but on the other hand Bitcoin payment was suspended by Elon Musk because of its carbon emission impact on the environment.
Recently, many crypto firms are trying to move their investment into those projects, which can easily consume energy from sustainable sources.
In the latest, Powerbridge Technology firm planned to install around 2600 crypto Mining in Hong Kong, with the aim to to use sustainable green sources to energy.