Green Assets Wallet is released - will it change the green debt market?

Yesterday on Climate Finance Day in Paris, ChromaWay and Stockholm Green Digital Finance launched the Green Assets Wallet, an innovative platform powered by relational blockchain technology.

The 4th edition of Climate Finance Day is behind us. The event gathered more than 60 of the most involved members and international observers of the green market for the fourth year in a row. Together they are looking for green and sustainable finance solutions to redirect capital flows towards a low-carbon and inclusive economy. Are we any closer to that?

“By digitizing impact reporting and embedding this into a blockchain, the Green Assets Wallet gives investors easy, reliable environmental impact information.” - Erika Wranegård, Fixed Income Manager of Öhman Asset Management.

We certainly might be, since a new platform, the Green Assets Wallet, was finally launched! The platform is built on relational blockchain technology, using the open-source Postchain - a platform developed by ChromaWay. It is inspired and driven by demand from investors for more green investment opportunities, as well as higher quality and more consistent information about green projects. The Green Assets Wallet uses technology to address barriers to issuance, especially in emerging markets where the potential impact is the highest. It provides mechanisms for lowering costs and building credibility. It is hoped that it will become a neutral and trusted place for different markets to organically converge on much needed standards around reporting, credibility, and environmental value.

The GAW was developed with input from partners in all sectors of the market. Chief contributors were the climate research institute CICERO, the Nordic financial services group SEB, the asset manager Öhman, real estate developer Vasakronan, asset owner Mistra, geographic data provider GIB, China Energy Conservation and Environmental Protection Group (CECEP). Funding and project leadership was provided by the Emerging Markets Sustainability Dialogues (EMSD) and the Emerging Markets Dialogue on Finance (EMDF), projects of Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, commissioned and financed by the German Federal Ministry for Economic Cooperation and development.

Cecilia Repinski, Executive Director of Stockholm Green Digital Finance, commented of the platform with the following words:

“Our mission is to use Fintech as a lever for delivering the SDGs and the Paris Agreement. To deliver these goals by 2030, trillions of dollars of private investment are needed. The Green Assets Wallet is one innovative solution to overcome the barriers to scale the flow of green investments.”

The Green Assets Wallet was launched on the 27th of November 2018 in Paris, as an innovative platform created to grow the green debt market with technology.