Takeaways from Davos: Blockchain is changing the way we fight for sustainability By Cointelegraph
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The COP has also created tools to prevent climate doomsday. Such economic tools as voluntary and compliance carbon markets, carbon credits, green bonds and other green assets tied to positive environmental impact play a crucial role in decarbonization global efforts. However, they are often inaccessible to small and medium-sized companies from developing countries. The main reasons are high upfront costs and complex structuring processes in line with global green standards.
Positive and negative impacts on the environment have to be forecasted and described according to approved methodologies. This information is used for the future monitoring and reporting and is verified by assurance providers. That’s where greenwashing or deceptive eco-claims may occur. On-chain verification brings data immutability and transparency, stimulating issuers to meet their green commitments.
Alexey Shadrin is a co-founder of the Carbon Fund and Evercity.io, a Web3-based platform for green finance origination. He is also a finance group leader in the Climate Chain Coalition and a frequent speaker at high-level events by the World Bank, U.N. and WEF. He also co-authored an Elsevier-published book about using blockchains for climate finance.
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The COP has also created tools to prevent climate doomsday. Such economic tools as voluntary and compliance carbon markets, carbon credits, green bonds and other green assets tied to positive environmental impact play a crucial role in decarbonization global efforts. However, they are often inaccessible to small and medium-sized companies from developing countries. The main reasons are high upfront costs and complex structuring processes in line with global green standards.
Positive and negative impacts on the environment have to be forecasted and described according to approved methodologies. This information is used for the future monitoring and reporting and is verified by assurance providers. That’s where greenwashing or deceptive eco-claims may occur. On-chain verification brings data immutability and transparency, stimulating issuers to meet their green commitments.
Alexey Shadrin is a co-founder of the Carbon Fund and Evercity.io, a Web3-based platform for green finance origination. He is also a finance group leader in the Climate Chain Coalition and a frequent speaker at high-level events by the World Bank, U.N. and WEF. He also co-authored an Elsevier-published book about using blockchains for climate finance.
Continue Reading on Coin Telegraph
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