Payments giant Ripple says it wants its operations to be carbon neutral within 10 years as the company aims to contribute to the sustainability of the crypto industry.
The San Francisco-based firm, which owns a significant portion of the global supply of XRP, says it is teaming up with non-profit organization XRP Ledger Foundation, energy-focused blockchain project Energy Web, and think tank Rock Mountain Institution to push for the decarbonization of public blockchains through the use of EW Zero, an open-source tool that enables energy buyers like blockchain firms to source emissions-free renewable energy.
Ripple also notes that it is spearheading new research in partnership with leading universities to assess the energy consumption involved in transactions across cryptocurrencies, credit cards, and cash.
In addition, the payments company says that it intends to invest in efforts that help reduce the company’s carbon footprint.
“We put more resources behind initiatives that accelerate the industry’s efforts, including:
Comprehensively measuring Ripple’s own