European Investment Bank taps blockchain for Climate Awareness Bond

The European Investment Bank has issued a blockchain-based digitial bond powered by environmentally-incentivized node infrastructure.from the financial institution outlined the key points of a ‘digital native green bond’ denominated in Swedish krona. The 1 billion kr bond is set to offer a 3.638% fixed rate over two years to institutional investors.

So|bond’s Proof of Climate awaReness protocol incentivizes nodes to reduce environmental impact of their infrastructure. This is done by remunerating nodes according to a formula linked to their climate impact, with lower impact ratings resulting in higher rewards. “This Climate Awareness bond will run on a platform designed to minimise the environmental footprint of the IT infrastructure.”

An announcement from the financial institution outlined the key points of a “digital native green bond” denominated in Swedish krona. The 1 billion krona bond is set to offer a 3.638% fixed rate over two years to institutional investors.

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