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Green Bond Benchmarking and Validation Over Blockchain

Green bonds have attracted positive results with investors keen to support them. However, the issuance of green bonds is subject to a complex validation process which disincentivises organisations from issuing them, and results in limited availability for investors. Additionally, because of challenges of validation and auditing, the issuance of green bonds outside of low-risk countries creates further barriers, as investors can’t be confident that the outcomes will meet
sustainability criteria.

Blockchain technology offers an opportunity to add transparency and confidence to green bonds, by defining and measuring criteria associated with sustainability that have traditionally required significant administrative effort to measure, in a transparent and low-
administration way. The combination of blockchain technology with business logic, further ensures that confirmation, payments and other events can be tied to firm evidence that sustainability objectives have been achieved, as well as offering the opportunity to solicit additional evidence where required.

Advanced contract technology also offers an opportunity to automate much of the administration underpinning the management of investors in green bonds, including terms, rights and the management of financial transactions.

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About the Authors

Latif Amars

Latif Amars

Latif has a strong interest in global sustainability issues, especially how the global community make sense of, negotiate and attempt to solve environmental issues. Pursuing this, he worked with Oxfam to bolster climate resilience in the Horn, East and Central Africa region; operationalised what became a leading organisation on climate change in Tanzania, and engaged in the UN climate negotiations.

Frustrated with structural inertia that exist to solve the environmental challenges, he decided to focus on solutions and helping entrepreneurs, companies and governments to explore sustainable pathways. To that end, he published research articles on sustainability transitions and worked to connect pioneers to bring about systemic change in the energy sector. Before joining hiveonline, Latif worked with the World Bank analysing client country environmental and natural resources challenges.

Sofie Blakstad

Sofie Blakstad

Following an early career in publishing and marketing, Sofie taught herself programming and business design, and subsequently spent most of her career building banks, including the first online bank for UBS. Having worked for eight major international banks in everything from IT infrastructure delivery to business transformation, run programmes in 60 countries worth over USD 1bn, and supported startups, Sofie decided the last thing the world needs is another bank and hence hiveonline was born.

For hiveonline, Sofie has been invited to speak at the World Economic Forum, G7 and G20 groups and World Bank/IMF Summit in partnership with UNEP and the Sustainable Digital Finance Alliance, where she is an advisor on fintech applications to sustainable finance, blockchain, identity and trust. Sofie is also an advisor to the Edinburgh Futures Institute and holds an MSc in Informatics. Sofie’s second book, with Rob Allen, Fintech Revolution (Palgrave Macmillan, 2018) was named “One of the Best Fintech Books of All Time” and “One of the Best New Fintech Books for 2019 (Book Authority).

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