The Climate Chain Coalition membership agreed on shared principles and values to facilitate and guide activities for capacity building, networking, research, governance, demonstrations and pilot projects.
As a member of the Climate Chain Coalition, our organization agrees to cooperatively support the application of distributed ledger technology (‘DLT’, including ‘the blockchain’) and related digital solutions to addressing climate change by adhering to the following shared principles and values:
1. Alignment with the long-term goals of the Paris Agreement
We recognize the massive challenge and urgency of global transition to a low-carbon and climate-resilient economy and align with the goals of the Paris Agreement. We will cooperate to support immediate actions by and for blockchain and related digital solutions that contribute to the achievement of this transition.
2. Advancement of DLT for Better Climate Change Solutions
We will cooperate to support the rapid advancement of DLT solutions to address climate change across mitigation and adaptation through enhanced climate actions, including but not limited to the measurement, reporting and verification (MRV) of the impact of all sorts of intervention, and the mobilization of climate finance from diversified sources.
3. Collaboration within the Scope of the Coalition
On the basis of these shared principles and values, we will collaborate on concerted activities and in the dissemination of outputs in relation to DLT solutions and support stakeholder capacity building with regard to the deployment of shared tools and systems to advance climate change governance, especially in developing countries.
4. Technology Neutrality
We recognize that DLT evolves constantly and therefore, maintain a neutral position regarding the applicability of DLT.
5. Commitment to Standardization
We will collaborate to establish basic standards in the development of related tools in support of the efficacy of DLT applications for climate change governance.
6. Dissemination of DLT Benefits
We will collaborate on DLT-related solutions to be developed in the interest of cost-effectiveness, integrity, transparency, and empowering stakeholders in socio-economic systems.
7. Fraud Mitigation
We will collaborate on a proactive strategy to identify and seek to mitigate fraudulent activities associated with the application of DLT in climate change and sustainability governance in general, as appropriate.
8. Responsibility for addressing challenges attributable to DLT applications
As organizations concerned about environmental integrity generally and climate change specifically, we recognize some negative effects and current challenges of many DLT applications (in particular those using the blockchain with proof of work consensus) regarding their levels of energy consumption and GHG emissions. We are transparent and forthcoming while we actively seek appropriate solutions to address these challenges.
9. Sustainable Development Goals
We recognize that climate change is one of the Sustainable Development Goals (SDGs) and will encourage the development of DLT-based innovations for climate change which can simultaneously contribute to the achievement of SDGs.