Digital innovation and especially Distributed ledger technology (blockchain) can be very important enablers of enhanced climate action.
DLT and blockchain could:
- strengthen monitoring, reporting and verification of the impacts of climate action
- improve transparency, traceability and cost-effectiveness of climate action
- build trust among climate actors
- make incentive mechanisms for climate action accessible to the poorest
- support mobilization of green finance
To encourage exploration and eventual use of this technology in support of climate action, the UN Climate Change secretariat initiated and facilitated the creation of the Climate Chain Coalition. (see https://unfccc.int/news/un-supports-blockchain-technology-for-climate-action for more details.
In light of the importance of the Climate Week and in order to tap into the unique innovation and technology development potentials, the Climate Chain Coalition is organizing workshops and a public event to facilitate broad collaboration among all relevant stakeholders and in order to galvanize financial as well as intellectual resource mobilization for the creation of the technological infrastructure for multi-stakeholder engagement in climate action in the context of the UNFCCC platform for enhanced climate action by Non-Party Stakeholders http://climateaction.unfccc.int/