Blockchain giant Ripple announced that it has set aside $100 million to invest in the carbon market for climate targets.
Ripple has set aside $100 million in its press release to accelerate its carbon removal activities and support the development of the market through aid to carbon companies. Ripple CEO Brad Garlinghouse said:
“Our $100 million commitment includes global action to help companies address climate change by deploying resources, including innovative technology, strategic capital and talent. It is a direct response to the call. While reducing emissions and transitioning to a low-carbon future is crucial, carbon markets are also an important tool for achieving climate goals.”
As it is known, Ripple is a company that closely deals with the issue of carbon emissions. This interest of Ripple also led to the allegations that Ripple was under the Bitcoin energy FUD, which emerged last year and created a great decline in Bitcoin.
