In recent years, the politics on climate finance have gained a lot of attention from very different perspectives. It became a crucial measure to incentivize finance flows to fight climate change as a whole. Meanwhile, a global climate finance architecture has been created, facilitated by major events like the Paris Agreement. Currently, institutions like The Green Climate Fund are working on the implementation of concrete projects to adapt to the impacts of climate change, or to reduce CO2 emissions.
As the global activities and the amounts on climate finances are increasing, questions regarding transparency and efficiency are being raised and new technologies are gaining rapidly the attention of major stakeholders. Blockchain Technology seems to be a very promising new approach tool to overcome centralized structures, while reaming. Especially for climate finances, it can help to earn the donors’ trust by offering a maximum of transparency. In addition, it increases the efficiency of climate finance flows as a whole. Maybe the most important issue is that it can bring a lot of new stakeholders into the climate finance circle by reducing its complexity. Startups are spearheading this process by developing smart phone apps and other solutions that allow everybody to work on climate finance. To fight against climate change it could be the next level for being much more effective, as climate finance becomes a very decentralized issue, concerning more and more people.
This project is the result of a partnership with the Regional Programme Energy Security and Climate Change in Latin America (EKLA) from the Konrad Adenauer Stiftung (KAS).
It started with a Design Thinking Workshop on Blockchain and Climate Finance held in Rio de Janeiro and resulted in a report "Blockchain Contributions for the Climate Finance: Introducing a Debate" recently published.
Access the Report here
Watch the Video from the debate and launch of the Report here