Invert Inc, an emissions and carbon-reducing company, recently announced a partnership with Ripple to source and invest in carbon credit generation initiatives, which would enable the team to explore investments in these projects.
According to a press release, the goal is for both companies to support carbon reduction projects that can shrink the effects of carbon emissions on the global climate. Furthermore, the Chairman of Invert, Mark Zekulin, expressed his enthusiasm for the future. He believed that the partnership would build a stronger relationship between both parties in a few years.
“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.” He added.
Invert and Ripple’s Role in Checking Carbon Discharge
Both companies will speed up capital deployment to build a broader portfolio of credit generation projects. However, this is not the first time both Ripple and Invert will be taking on the challenge to bring down carbon emissions.
Before today’s announcement, Invert had spearheaded projects that helped create quality and meaningful carbon credit. These projects include planting trees and developing machines that can remove carbon from the air, improving the climate.
Ripple’s Positive Climate Effects
Ripple is currently the top cryptocurrency body to spearhead the promotion of positive climate change, and it aims to become carbon net-zero by 2030 through emissions reduction, clean energy purchase, and investments in carbon removal projects.
Ken Weer, Vice President of Ripple Impact, added: “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.”
In addition, Ripple is one of the leading blockchain companies that focuses on reducing the negative implications of crypto activities on the global climate.
RippleX’s General Manager reported that 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.
Consequently, Ripple Chairman Chris Larsen offered to donate $5 million to support a global campaign across various media houses. This move will help convince Bitcoin network developers to change its code from a Proof-of-Work (PoW) algorithm to a Proof-of-Stake (PoS) model.
