Regulatory challenges Despite the benefits of parametric insurance, there exist some legal and regulatory challenges. In many jurisdictions, such as the UK, the insured must have an ‘insurable interest’ for an insurance policy to be legally valid. In other words, the party taking out the policy must be affected by the subject matter of the …
Climate Resilience: Parametric Insurance and Blockchain (Part II) Read More »
Building resilience to natural disasters is key to climate change adaptation, which is a central element of the Paris Agreement. Whilst insurance may not be the first thing that comes to mind when thinking about climate change, it is an important tool to help protect individuals and businesses from the rise of climate-related disasters. Yet, …
Climate Resilience: Parametric Insurance and Blockchain (Part I) Read More »
Reducing global CO2 emissions to limit global temperature rise to 1.5°C above pre-industrial levels is a daunting but achievable goal that requires a worldwide mega-scale dynamic flow of financial resources. The magnitude of the financial flow needed to activate and run global climate actions to achieve the Paris goal is estimated at USD 32 trillion …
Accelerating Global Climate Finance Flow through an Integration Platform Read More »
The Blockchain & Climate Institute (BCI) acknowledges the White House’s position on the importance of additional research into less-energy intensive Distributed Ledger Technology (DLT), offering the proviso that: Research into newer, low-energy versions of DLT must be encouraged to continue, as a priority. We welcome the recent White House report titled “Climate and Energy Implications …
It is worth bearing in mind that COP negotiations are not the only way to find solutions to global problems. What COP does is reaffirm the signals that negotiators have been sending to markets. I believe markets had got the message that coal’s days were numbered even before Glasgow. And they already regarded fossil fuel investments as risky. Of course, whether markets pull out of fossil fuels altogether and the rate they do so depends on many factors including, national policies. So governments need to step up to the plate with a realistic carbon price and end fossil subsidies.
The traditional linear economy is clearly no longer a sustainable model for growth. The idea of a take/make/dispose economic plan cannot continue in a world racked with climate change issues.
Brazil has a wide range of PES schemes to consider, on different levels of development, including private and official public databases for results-based payments, REDD+ (jurisdictional and project-level initiatives), carbon market initiatives and many other overlapping frameworks.
Climate change is often associated with rising temperatures and carbon emissions. And to combat it, our intuitive action is to plant trees and take public transport. We should rethink those instincts. Research tells us that it would be more impactful to focus our attention on the oceans.
The Carbon Risk Real Estate Monitor (CRREM) is an EU-funded research consortium that aims to mitigate those risks and accelerate decarbonisation and the resilience of commercial real estate. At the current rate, the EU carbon budget, allocated to the sector until 2050 (i.e. 24 GtCO2e for a 2˚C scenario), is only expected to last until 2039, which underlines the importance of the project.
To help meet the climate emergency, every Yen or Euro must be well spent. The same kind of blockchain technology that underpins cryptocurrencies, offers a way to create trust through the system for the ambitious climate actions we all need to take.
