Ripple explained its current effort is to achieve carbon net zero by or before 2030.
Payment protocol Ripple has announced multiple partnerships targeted at helping billions of people. The company plans to support 3.7 billion people globally who are either unbanked or underbanked. According to Ripple, the collaborations include innovative fintech, non-governmental organizations (NGOs), universities, foundations, and social entrepreneurs. Some are the World Economic Forum, Energy Web, XRP Ledger Foundation, Watershed, Rippleworks, Care International, Institute for Business & Social Impact, Bill & Melinda Gates Foundation, etc. The payment protocol added that the purpose of the collaboration is for a more open and meaningfully connected world.
Ripple Presents Multiple Partnerships to Help Billions of People
Ripple said in a tweet released on Earth Day, April 22, that blockchain innovations in carbon markets could help achieve global climate goals. The vice president of Head of Social Impact & Sustainability at Ripple, Ken Weber, said we are currently in a concerning and exciting time in combating climate change. He said the team has worked with climate-focused fintech and carbon removal companies over the past year. Weber mentioned the ongoing effort to put the partner’s removal inventory onto the XRP ledger.
Since the project began in 2018, Ripple has entered into multiple partnerships, and its NGO partners operate in more than 80 countries. Additionally, the initiative has provided $150 million in donations since its inception. The payment protocol specifically noted that 1.7 billion people are unbanked, and almost an additional 2 million can be considered underbanked. However, adopting crypto and blockchain technology could stir economic opportunity and participation. Crypto and blockchain could also boost individual economic sustainability. Ripple stated that low-cost and always-on remittances and developing CBDC platforms could increase financial inclusion.
Notably, the XRP Ledger is the first major global carbon-neutral blockchain in the world. And it is designed to enable dynamic and scalable carbon markets and sustainable crypto solutions. In a comment on the Ripple climate change project and the partnerships to achieve the goal, Jules Kortenhorst, the CEO of a non-profit organization Rocky Mountain Institute, said:
“Blockchain has a vital role to play in achieving a zero-net emissions energy future. Ripple is taking the lead to ensure fintech is part of the effort to build a sustainable world that is not only transformative for banks and consumers, but also beneficial for the planet.”
Ripple’s Carbon Net Zero Target
Furthermore, Ripple explained its current effort is to achieve carbon net zero by or before 2030. It wants to reach its goal through notable investments in innovative carbon removal projects, lower emissions, and clean energy use.
On April 22, the day Ripple talked about its partnerships and help to billions of people, XRP went up. The cryptocurrency saw some gains at an intraday high of $0.476 after a losing streak since April 18. At press time, XRP is down 1.19% to $0.4642.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.