Ripple and Invert join forces to make the global climate more friendly.
Invert Inc, an emissions and carbon offsetting company, has announced that it has partnered with Ripple to source and invest in carbon credit generation initiatives in order to enable the duo to venture into early investments in these projects.
According to a press release, the initiative is part of efforts by the companies to support carbon reduction projects that help reduce adverse effects on the global climate.
Mark Zekulin, Chairman of Invert, expressed his excitement about the company’s partnership with Ripple, as it would help build a stronger relationship between the parties in years to come, adding:
“The more collaboration we can bring to investing in projects that will remove or reduce greenhouse gas emissions, the more rapidly we create solutions to fight climate change.”
Partners’ Role in Reducing Carbon Emissions
Notably, Ripple and Invert will accelerate and vet capital deployment to develop a wider portfolio of credit generation projects.
This is not the first time both Ripple and Invert will be embarking on initiatives to reduce carbon emissions in the global climate.
Before today’s announcement, Invert had invested in projects that resulted in the creation of quality and meaningful carbon credit.
Some of Invert’s past efforts in carbon reduction include planting trees and developing machines that remove CO2 from the air, thus combating climate change early.
Ripple Embarking on Positive Climate Efforts
On the other hand, Ripple is one of the frontiers spearheading efforts to promote positive climate work in the crypto and blockchain industry.
Ripple is focused on becoming carbon net-zero by 2030 through emissions reduction, clean energy purchases, and investments in carbon removal projects.
Commenting on the development, Ken Weer, Vice President of Ripple Impact, said:
“Ripple is committed to bringing industry stakeholders together to contribute ideas, technical innovations, policy ideas, and new financing for innovations to help meet global climate goals.”
Ripple is one of the leading blockchain companies that focuses on reducing the negative implications of crypto activities on the global climate.
As reported by RippleX General Manager, the company’s annual energy consumption is equivalent to what 50 U.S. households use annually, a feat that makes the blockchain attractive to developers.
Similarly, Ripple Chairman Chris Larsen pledged $5 million to support a global campaign across various media outlets that will help convince developers on the Bitcoin network to change its code from a Proof-of-Work (PoW) consensus algorithm to a Proof-of-Stake (PoS) model.