The Bank of International Settlements has announced a COP28 initiative calling on developers to find blockchain-based solutions for sustainable finance.
The initiative is spearheaded by the United Arab Emirates' COP28 presidency. It is being developed by the BIS in partnership with the Central Bank of the UAE and the Emirates Institute of Finance.developer teams to find solutions that address data verification gaps in sustainable finance. "To finance the needed transformation, investors need certainty that their funds are channeled to their intended uses. Technologies that promote the timely measurement and disclosure of climate-related information are part of the solution," he further elaborated.The initiative outlines three critical problem statements that it aims to address.