Blockchain company Ripple has allocated $100 million to accelerate carbon removal activity and aid in modernizing such markets with the help of investments in innovative carbon removal firms and sustainable financial tech platforms.
According to the official press release, Ripple also plans to create a “portfolio of additive, long-term, nature and science-based carbon credits, back innovative carbon-removal technology companies and market makers.”
Some of these will be utilized to meet its own commitment to accomplish net-zero in less than a decade. The funding will also focus on supporting new functionality and developer tools that allow carbon credit tokenization as core NFTs on the public blockchain – XRP Ledger (XRPL).
According to the official press release, Ripple also plans to create a “portfolio of additive, long-term, nature and science-based carbon credits, back innovative carbon-removal technology companies and market makers.”
Some of these will be utilized to meet its own commitment to accomplish net-zero in less than a decade. The funding will also focus on supporting new functionality and developer tools that allow carbon credit tokenization as core NFTs on the public blockchain – XRP Ledger (XRPL).