This article was first published on Insights – Ripple
The world is in the midst of a global climate crisis—one that is impossible to ignore. To avert the worst-case climate scenarios, countries around the world have committed to reach carbon net-zero by 2050. Addressing sustainability across all industries is a worldwide priority, and global finance is no exception.
The blockchain and digital asset industry will play a critical role in building a sustainable future for global finance. We, as an industry, need to come together to dramatically reduce our collective environmental impact as broad adoption takes hold.
This is why, today, Ripple is pledging to achieve carbon net-zero by 2030. We’re also partnering with the XRP Ledger Foundation, Energy Web and Rocky Mountain Institute to decarbonize public blockchains—starting with the XRP Ledger—through the use of the new open-source EW Zero tool. Additionally, Ripple is driving new research with leading universities that evaluates energy consumption across digital assets, credit card networks and cash.
Our commitment to sustainability does not stop there. We put more resources behind initiatives that accelerate the industry’s efforts, including:
- Comprehensively measuring Ripple’s own carbon footprint and reducing it by purchasing clean, renewable energy for all of our offices and business activities globally.
- Investing in innovative carbon removal technology, with the goal of removing all of our remaining emissions by 2030—and seeding the next generation of decarbonization technology at scale.
- Partnering with the University College London (UCL) and the National University of Singapore on research into the environmental impact of crypto adoption.
Full implementation of these green, sustainable practices won’t happen overnight. It’s imperative that industry leaders take responsibility now to reduce energy consumption, before it’s too late.
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