Climate Chain Coalition launches report on blockchain and new technologies at COP 27

by · November 11, 2022

The Climate Chain Coalition (CCC), a network of organizations dedicated to leveraging blockchain technology for effective climate action, including Cointelegraph as a member, delivered its status report on November 11 at the United Nations Climate Change Conference, or COP27, in Sharm El-Sheikh, Egypt.

The coalition was founded five years ago and has worked on initiatives related to the consumption accounting system and the greenhouse gas emission accounting. Tom Baumann, chairman and founder of the Climate Chain Coalition, stated:

“During 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 new technologies as an open distributed network where members self-organize into member-driven initiatives.”

Members of the Climate Chain Coalition (CCC) at the UN climate conference, COP 27, in Egypt.

The coalition’s mission is to solve problems and challenges needed to advance transformative digital climate innovations by creating resources to support a shared data and digital infrastructure, as well as supporting networking and capacity building, as well as partnerships between digital and climate communities.

Related: How blockchain technology is transforming climate action

Editor-in-Chief of Cointelegraph, Kristina Lucrezia Cornèr, spoke at COP 27 about blockchain’s relevance in combating climate change.

Cointelegraph’s Editor-in-Chief Kristina Lucrezia Cornèr commented on the panel:

“Education is the key here, and media responsibility is incredibly high. We consider it our greatest mission to talk not only about what is intrinsic to the blockchain industry, but what is happening beyond. And because it is outside the box that things unite us because this conference is about climate action and climate is so much more about just climate change. It’s about sustainability, and it’s about our future.”

Alexey Shadrin, co-founder and CEO of Evercity, a sustainable finance governance, issuance and monitoring platform, also participated in the panel, highlighting how the coalition’s efforts are supporting organizations with blockchain technology implementation use cases, as well as mentoring the new projects that are rapidly emerging up right now on the markets. “We want to make sure that these projects are not only innovative and cool, but also aligned with the UN’s core values ​​and standards that currently exist there and were developed by many, many experts in the UN process and beyond.”

Although digital assets have been criticized for their high energy consumption, such an accusation is inaccurate. There is a need to distinguish between cryptocurrencies and underlying blockchain platforms that are energy efficient and support climate initiatives.