Claims for offsetting carbon credits are expected to skyrocket to $550 billion by 2050 to meet Paris Agreement targets. (United Nations Framework Convention on Climate Change) Ripple, a leader in enterprise blockchain and crypto solutions. Announces $100 million commitment to carbon markets This funding will help accelerate carbon removal activities. and help modernize the carbon market through investments in innovative carbon removal companies and climate-focused fintechs. Ripple will also build a portfolio of organic carbon credits and additional long-term science-based initiatives, some of which will be applied to meet the company's commitment to reach net-zero carbon emissions by 2030 or sooner.
In addition, funding will continue to support new work. and developer tools that enable the creation of carbon credit tokens. It is the main NFT (non-fungible token) on the XRP Ledger (XRPL). This commitment will help advance progress towards globally agreed upon climate goals to limit the increase in global temperatures. At 1.5 degrees Celsius, carbon markets are struggling to keep up WhatsApp Number List with increasing demand. This is hampered by supply bottlenecks and slow time-to-market. Including the lack of high quality products that can be verified. To achieve global climate goals Carbon markets require improved mechanisms for project verification and certification. More transparent pricing and market information and improving infrastructure for both buyers and suppliers. Therefore, blockchain and crypto It has the inherent quality of transparency.
Verification and the ability to scale down It can therefore help address the market's biggest barriers to growth and efficiency. Brad%20Garlinghouse Brad Garlinghouse, CEO of Ripple “Our mission with our $100 million investment is Responding to calls for the world's leading companies to urgently find measures to help address climate change through the use of resources. This includes innovative technology. strategic investment and very talented personnel While reducing emissions and guiding the transition to a low-carbon future are paramount, But carbon markets are also an important tool for achieving climate goals. Blockchain and crypto can play a role as a catalyst for carbon markets to reach their full potential. It brings liquidity and traceability to a fragmented and complex market,” said Brad Garlinghouse, CEO of Ripple.