The presidency of COP28, the 28th United Nations climate change summit, has joined the Bank for International Settlements (BIS) and the Central Bank of the United Arab Emirates in launching a techsprint aimed at: “Promoting innovation in scaling sustainable finance and combating climate change”. The techsprint will address three key areas relating to the use of AI, blockchain and internet of things (IoT) technologies.
“Combating climate change is more urgent than ever,” said Agustín Carstens [pictured], General Manager of the BIS, “It calls for a profound change in the way economies operate and grow. To finance the needed transformation, investors need certainty that their funds are channelled to their intended uses.”
“Technologies that promote the timely measurement and disclosure of climate-related information are part of the solution. The BIS Innovation Hub has explored how to apply technologies such as AI, blockchain and internet-of-things to green finance instruments and climate-related disclosure. This TechSprint in collaboration with the COP28 UAE, the CBUAE and EIF will complement these efforts to address remaining gaps in the green finance market.”
The deadline for proposals is 6th October 2023.
Full details available here.
[Image source: BIS]
