Putting the Paris Agreement on the Blockchain
International collaboration on reducing greenhouse gas emissions is critical to halting climate change. A national accounting of emissions, connected through a ledger recording international transfer of emissions reductions, enables transparency and accountability on who is doing what for the climate. This in turn paves the way for proactive investment into climate projects, technologies and policies by creating a financial pathway for incentivizing emissions reductions and increased ambition. Blockchain for Climate Foundation is building the tools to achieve this goal using blockchain technology.
For the first time in the history of humanity, 196 countries have committed to work together to fight climate change. Under the Paris Agreement, each country sets its own unique, differentiated “Nationally Determined Contribution” (NDC) stating the specifics of how it is going to fight climate change.
Yet we know it’s critical to link the actions and efforts of all parties into one cohesive whole if we’re going to have a chance of achieving our goal.
Today’s world presents nearly unlimited opportunities to reduce greenhouse gas emissions, but has lacked a system to connect emissions reductions opportunity with capital and demand. Blockchain technology holds promise of manifesting a transparent, public and universal ledger, that can serve as a medium of exchange for emissions reductions outcomes.
At any one time, some parties will be able to contribute more to the climate fight, and others less. By building a secure, transparent mechanism that incentivizes emissions reductions anywhere in the world, we can drive net global emissions down farther, faster, and give ourselves a fighting chance to beat climate change.
Founder & Executive Director