Key Takeaways
- Ripple commits 1% of profits to social impact, blockchain innovation, and carbon markets.
- The company has donated over $180 million globally since 2018.
- Ripple fosters employee-driven change through volunteering and matching donations.
Ripple has announced its commitment to the Pledge 1% initiative, reinforcing its dedication to driving global social impact. This is in line with the long-term commitment by the company to the use of blockchain technology in service of the greater good. It is through the company Impact initiative that the company commits 1% of its profits towards catalyzing blockchain innovation, financial inclusion, and sustainability in the environment.
In fact, since 2018, the company Impact has donated more than $180 million worldwide to solve financial problems in emerging markets and blockchain research, including through partnerships with the University of California, Berkeley. The new partnership by Ripple with Pledge 1% shows that the company is serious about scaling its philanthropic and innovative efforts.
Ripple Invests $80M in Blockchain Research
Ripple’s University Blockchain Research Initiative has invested $80 million in academic blockchain research, spurring more than 1,500 projects and increasing fintech course offerings at more than 50 international institutions. The company also partnered with Mercy Corps Ventures to support more than 50 fintech startups in emerging markets, unlocking more than $500 million in follow-on funding.
Humanitarian work is very much part of the company’s agenda. Collaboration with organizations such as UNHCR and the International Rescue Committee has sought to enhance humanitarian aid delivery using its blockchain-based payment solutions, including the soon-to-be-released RLUSD stablecoin.
Scaling Climate Action and Employee Empowerment
Of the lofty goals that Ripple has put forward in terms of sustainability pathways is to achieve net-zero carbon emission by 2030. It has pledged $100 million to improve carbon credit trading and bring more transparency to voluntary carbon markets. Ripple also contributes to sustainable aviation fuel initiatives, hence contributing a great deal toward reducing carbon.
The company employees are incredibly active in causes locally and worldwide, serving thousands of hours every year. These types of efforts include working with Great Ormond Street Hospital Charity in London and the Eat. Learn. Play. Foundation in San Francisco, among others, to further community empowerment.
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