CLIMATE CHANGE GREEN FINANCE
reliable infrastructure is needed. This infrastructure investment brings a myriad of benefits, including increased financial inclusion which is necessary for financial products like micro-lending. With the advent of Artificial Intelligence, countries without proper digital infrastructure risk falling even further behind. Standardized Reporting Blockchain on its own is only one piece of the puzzle. Standardized reporting ensures that all stakeholders use consistent metrics, definitions, and formats when documenting climate finance activities. The Task Force on Climate-Related Financial Disclosures (TCFD) and Global Reporting Initiative (GRI) are two such frameworks that have received international acceptance and adoption. Standardized reporting enables comparison of climate finance performance across countries and organizations, reducing ambiguity. Clear, uniform reporting requirements make it easier to identify discrepancies or misuse of funds and provides enhanced accountability. Evidence-based decision making provides reliable data for policymakers, investors, and civil society to assess project impacts and allocate resources effectively. Clear protocols on how to disclose financial flows and climate-related risks ensure transparency in investment decisions and facilitates independent verification of reports, strengthening credibility and trust. Building trust When combined, these tools offer a powerful transparency ecosystem where blockchain ensures data integrity, while standardized reporting provides the framework for collecting and interpreting this data. By leveraging blockchain and standardized reporting, developing nations can build trust with international investors and donors, demonstrate effective use of climate funds, and attract further investment for critical adaptation and mitigation projects. This ecosystem will be enhanced with public beneficial ownership registries as they provide clear information about who ultimately
LIDA PREYMA /LGD3UH\PDLVWKHIRXQGHUDQG&(2RI&ÕODQGDLUH&DSLWDOIDFLOLWDWLQJ capital introductions for corporate climate projects. Previously, she was director of strategic initiatives for capital markets and head of global anti-money laundering risk management for a major Canadian bank. She was also part of the management team that build Canada’s first alternative trading platform and stock exchange,and managing director of corporate citizenship of a multinational auto parts manufacturer. She has served on B20 taskforces including anti-corruption, finance and infrastructure, energy transition, and climate. She is a member of the board for Transparency International (Canada) and a mentor for Creative Destruction Labs’ Paris Climate stream. www.celandairecapital.com
owns and/or controls the companies involved in climate projects, both participants and beneficiaries. They ensure funds are not funneled to hidden interests or shell companies because they reveal hidden ownership structures thereby preventing companies with poor environmental records from establishing new entities to access financing under a different name. They can also reveal potential conflicts between project developers, government officials, and funding institutions, reducing the risk of favouritism. For investors and funding agencies, they can use ownership data to assess the
credibility and risk associated with potential climate projects and ensure that recipients meet anti-corruption and ethical standards before receiving funds. Taken together, these tools can provide a transformative role in ensuring climate finance is transparent, traceable, and impactful. Trust and integrity among stakeholders are essential in attracting private money to developing countries. By integrating technology, clear standards, and robust governance, the world can move closer to ensuring climate funds deliver real, verifiable impact.
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THE FUTURE OF ENERGY
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