Ripple has created a $44 million joint Environmental, Social, and Governance (ESG) investment with Nelnet (NYSE: NNI) Renewable Energy into one of the solar energy funds of Nelnet.
Ripple is planned to be the majority investor in this with the final goal being funding solar energy projects in the United States of America.
It is approximated that the solar projects will offset more than 1.5 million tons of carbon dioxide in the next 35 years.
Head of Social Impact at Ripple, Ken Weber, declared:
“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. We’re excited to work with Nelnet as we pursue our commitment to reduce the carbon footprint of financial services globally and to deliver on the promise of a carbon negative cryptocurrency industry.”