Can the world of finance and sustainability coexist in harmony? Although not many years ago this seemed like a utopia, the truth is that nowadays there are more and more channels of rapprochement.
That is why we can speak of “green” or sustainable finance, a term that includes a broad spectrum of financial activities whose implementation improves the environmental and social results of private and public economic activity. Within this universe we find climate change financial risk analysis systems, regulatory instruments in the banking, investment and insurance sectors, corporate sustainability policies and credit instruments such as the already famous green bonds or the new Green Coins or cryptocurrencies based on in nature .
It was the United Nations that introduced the concept of a new generation of currencies anchored to natural capital, which allow the value of natural resources and their impact on the world economy to be quantified.
The goods that in the past were believed to be super abundant -such as water and air- today have already become scarce, or are in the process of becoming so, so they must be considered as such in order to be managed. This is important work that can be done through green finance and that should be a priority in the future.
It is very common today that two terms are confused: green bonds with carbon bonds, they are often used as synonyms but have different meanings. The green bond is a debt title , in Argentina it would be a negotiable obligation that is issued in the Stock Market and whose objective is that the application of those funds be used for green projects. And that bonus must be paid. It is made to seduce the responsible investor, concerned about the environment, who supports sustainable projects with their purchase.
The carbon credit is a certified and verified reduction in greenhouse gas emissions that can be exchanged so that another can offset their carbon footprint.
The rise of cryptocurrencies
Cryptoactives grow by leaps and bounds and surprise with news all the time. One of the news that caught the attention of society and that can become a source of sustainable financing is the ecological cryptocurrencies , which can offset carbon capture for climate change and biodiversity conservation, by having an underlying in the nature.
These are assets that instead of being mined through mathematical calculations that consume a lot of energy, are mined through emission reductions or other activities such as the restoration of biodiversity or ecosystems.
In this sense, there are several proposals that are being worked on. From Fundación EcoConciencia and Cifal Argentina, we are developing a Green Coin , based on nature and with the backing of a Luxembourg Investment Fund . This cryptocurrency is mined with the protection of a nature reserve in Panama, and with the consumption of an energy transition fuel that -thanks to nanotechnology- reduces greenhouse gas emissions, improving the efficiency of fossil fuels and the combustion of the engines. On the other hand, we are working on a project for energy generators without fuel and one for capturing CO2 from the air to convert it into graphene or other materials .
Rodolfo Tarraubella, President of Fundación EcoConciencia and Executive Director of CIFAL Argentina
In this same sense, the GBM Coin project , developed by Argentines, is oriented, in which each user who acquires a token will be able to collaborate with the preservation of one m2 of native biosphere , out of a total of one million hectares in 10 countries of the world. world. The first issue of this coin was associated with the Paraná jungle in Misiones.
Also surprising was the news that the Argentine startup Pachama, founded by Diego Sáez Gil from Tucuman and dedicated to the development of technology to care for the environment, was chosen by Bill Gates from among several companies in the field that will receive a millionaire investment to promote the work that they are doing. Pachama is an application that allows companies to buy carbon credits to compensate for the damage they cause to the environment. The startup uses satellite imagery and artificial intelligence to validate the work that forest restorers do and thus offer a list of quality forestry projects.
One point to keep in mind when talking about ecological cryptocurrencies is that they are much more energy efficient than traditional ones , since they are burned in another way, they use another mining process that is not the solution of complex mathematical equations that require a large amount of money. of energy, but the reduction of greenhouse gas emissions, and do not pollute the environment.
We are facing the birth of a new way of marketing that appeals to the desire to support the natural theme on the one hand -by generating a market that uses cryptocurrency as a currency of exchange- and on the other, agreements between companies that go to buy to mitigate your carbon footprint . An equation in which everyone wins.
*The author is Rodolfo Tarraubella, president of Fundación EcoConciencia and Executive Director of CIFAL Argentina, an entity of the United Nations system.
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