Today sees the launch of the
Green Assets Wallet, a blockchain solution that aims to track the impact of green bonds. The initiative was financed by the German government and run out of Sweden with one of the first-ever green bond investors Swedish bank SEB as a leading participant alongside several other banks and organizations which were involved in the design.
The project was described as “not a blockchain used to transfer money via some cryptocurrency, but a blockchain used as a trusted database that holds documents and impact reports.”
Many investment initiatives that have a green or environmental impact are funded through debt. Green bonds are required to provide a report about their impact, a form of accountability to the investors. That reporting is an additional administrative overhead for the issuers, and the Green Assets Wallet aims to help with this. The green bond market is experiencing rapid growth, and according to the International Finance Corporation (IFC) and other market participants, the demand from investors currently exceeds the supply.
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