Ripple, a provider of enterprise blockchain solutions for payments, announced on Wednesday it is committing to be carbon net-zero by 2030. Ripple claims it is the first company in the blockchain industry to do so and as part of achieving this goal, the company has unveiled several initiatives to lead global finance toward a carbon-neutral future, which includes the launch of an open-source tool that helps enable any blockchain to decarbonize.
“As the world becomes increasingly digital, ensuring fintech is sustainable becomes even more critical. Ripple is committing to lead this effort with strategic technology and conservation organizations, including REBA and Rocky Mountain Institute.”
Ripple is committing to achieve carbon net-zero by 2030. Within this timeframe, the company plans to:
- Comprehensively measure and reduce its carbon footprint, and buy clean, renewable energy in markets where Ripple has offices and employees.
- Fund innovative carbon removal technology, with the goal of removing all remaining emissions.
- Expand partnerships with innovative conservation organizations and academia.
While sharing more details about the efforts, Brad Garlinghouse, CEO of Ripple, added:
“As digital payments continue to evolve, we need to make long-term systemic shifts as an industry to ensure digital transformation doesn’t come at the cost of our planet. We are leading this change and urging all crypto players to hold themselves accountable–monitoring their energy consumption to make greener choices.”