Today the BIS Innovation Hub in Hong Kong announced the successful completion of its second blockchain green bond experiments, Project Genesis 2, in which Goldman Sachs participated alongside several other organizations. Previous experiments trialed the basics of issuing a blockchain green bond. This iteration explored automating the reporting on delivering the bond’s green promises and a novel financial structure.
The research involved the Hong Kong Monetary Authority (HKMA), the UN Climate Change Global Innovation Hub, and two private consortia.
Two issues identified as necessary for the successful growth of green bonds are to address greenwashing and ensure funding addresses climate issues instead of refinancing existing projects.
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