Project Genesis was a green finance project launched by the Bank for International Settlements Innovation Hub and the Hong Kong Monetary Authority (HKMA) in 2021 with the objective to develop prototype digital platforms for green bond tokenisation and to explore how to make green bond issuance more transparent and improve access for retail investors. The two prototypes developed combined blockchain, smart contracts, internet-of-things, and digital assets to allow issuers and other stakeholders to explore innovative approaches to green bond distribution that allow investors to monitor the positive environmental impact that the financed projects achieve in terms of reduced carbon dioxide emissions.
We are grateful for the opportunity to contribute to this important work and help confirm that digital green retail investments are not only technologically and practically feasible but are essential to our net zero carbon and sustainable finance ambitions.
There can be no net zero carbon scenario without a robust global green financial system to fund the transition. Fintech solutions and financial innovation are essential to this process because they can deliver green investment opportunities at scale and speed. There are many opportunities to create new digital green investments and asset classes in support of our net zero carbon policy commitment. In the report, we provided a few examples from our experience.
Check out the full report here: https://www.bis.org/publ/othp43.htm.
