Ripple, in collaboration with Nelnet Renewable energy, announced to invest $44M. The joint investment attempts to reduce carbon footprints in the financial world through funding solar and green energy projects throughout the USA. Ripple, a leading fintech firm, will be the leading investor of this partnership.
Ken Weber – Head of Social Impact at the company, explained the project’s significance, stating that green energy can not just “drive future economic growth but could also ensure a more sustainable world.”
The idea behind this joint venture is to spread out over for the coming 35 years to fund solar projects that can offset over 1.5 million tonnes of CO2. According to their estimates, that’s equivalent to the CO2 emissions resulting from drinking 154 million gallons of gasoline.
Scott Gubbels – Executive Director of Nelnet Renewable Energy – praised Nelnet’s platform, which allows investors such as Ripple to be part of the green energy movement.
It is important to note that in March, Nelnet Renewable Energy earned an E1 ESG rating, which is the highest score possible in the S&P Global rating system – for one of their renewable energy funds.
The close of the month, the blockchain-based payment platform has joined the Bhutan central bank to introduce a digital version of its nation’s currency. This move was designed to create a sustainable future. Bhutan is a tiny landlocked country located in the Himalayas is believed as the only carbon-free nation in the world. In this regard, Ripple said it was the CBDC solution could be the perfect match for its principle.
Bhutan is also expecting the move to increase the country’s financial inclusion by 85 per cent over the coming two years. Furthermore, Ripple’s platform will allow the country’s central banks greater “control over the issuance, management, privacy, and validation than they would get with public blockchains.”
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.