The Climate Chain Coalition (CCC), a network of organizations committed to using blockchain technology for effective climate action, which includes Cointelegraph, held its 27th November meeting at the 27th United Nations Climate Change Conference, or COP27 Inventory report submitted. in Sharm El Sheikh, Egypt.
The coalition, founded five years ago, is working on initiatives for consumption billing and accounting for greenhouse gas emissions. Tom Baumann, Chair and Founder of the Climate Chain Coalition, stated:
“In these years the coalition has grown from 12 founding organizations to over 360 organizations in 69 countries. The coalition was founded on the ethos of blockchain and emerging technologies as an open distributed network where members organize themselves into member-driven initiatives.”
The coalition’s mission is to solve problems and challenges needed to drive transformative digital climate innovation by creating resources to support a shared data and digital infrastructure, supporting networking, capacity building and partnerships between digital and climate communities.
Related: How blockchain technology is changing climate protection
Kristina Lucrezia Cornèr, Cointelegraph Editor-in-Chief, commented on the panel:
“Education is key here and the responsibility of the media is incredibly high. We consider it our greatest mission to not only talk about what’s inherent in the blockchain industry, but what’s going on beyond. And because it is so unusual that things unite us, because this conference is about climate protection and climate is so much more [than] only climate change. It’s about sustainability, and it’s about our future.”
Alexey Shadrin, co-founder and CEO of Evercity – a platform for managing, issuing and monitoring sustainable finance – also attended the panel and highlighted how the coalition’s efforts are helping organizations with blockchain technology implementation use cases and guidance on the new projects that are rapidly appearing on the markets right now. “We want to make sure these projects are not only innovative and cool, but also align with the core UN values and standards that currently exist there and have been developed by many, many experts within the UN process and beyond. “
Even if digital assets have been criticized for their high energy consumption, such an accusation is unfounded as it distinguishes between cryptocurrencies and the underlying blockchain platforms, which can be energy efficient and support climate protection initiatives.