Californian FinTech firm Ripple has announced a strategic ESG investment with Nelnet Renewable Energy \u201cthrough a\u00a0$44 million\u00a0joint investment into one of Nelnet\u2019s solar energy investment funds.\u201d<\/p>\n
According to Ripple\u2019s press release, this joint investment, which is majority funded by Ripple, will \u201cfund solar energy projects throughout the U.S. in support of the transition to a cleaner and more stable energy future.\u201d<\/p>\n
Ken Weber, Head of Social Impact at Ripple, said of the new fund:<\/p>\n
\u201cGuaranteeing a clean energy future is a major priority across every industry, not only to drive future economic growth but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it\u2019s evident that the technology will underpin our future financial systems. We\u2019re excited to work with Nelnet as we pursue our commitment to reduce the carbon footprint of financial services globally and to deliver on the promise of a carbon negative cryptocurrency industry.<\/em>\u201c<\/p>\n Ripple expects the solar projects financed by the Ripple Nelnet Renewable Energy Fund to \u201coffset over 1.5 million tons of carbon dioxide over 35 years, which is the equivalent amount of CO2 emissions from consuming 154 million gallons of gasoline.\u201d<\/p>\n Scott Gubbels, Executive Director of Nelnet Renewable Energy, said:<\/p>\n