Impact Reporting and Emerging Markets High on the GAW Agenda

On June 26, leading asset owner Mistra hosted the third "GAW Partners Meeting" where partners rounded up the Beta Phase of the tech build

The Green Assets Wallet innovation project, funded and co-developed by the Emerging Markets Dialogue on Finance of GIZ by BMZ, is finishing up the Beta Phase of the technology build. Partners convened to participate in a demonstration of the technology and to discuss final elements and next steps.

Next up is the GAW Test Phase when issuers of, investors in, and validators of, green debt will get to test the technology and provide feedback on a Workshop on September 27.

 Photo: Anna Denell, Sustainability Director Vasakronan, Anna Bellander, Stockholm Green Digital Finance, Harald Lund, Head of second opinion CICERO and Gus Botsford, Chromaway defining impact reporting in the Green Assets Wallet.

Photo: Anna Denell, Sustainability Director Vasakronan, Anna Bellander, Stockholm Green Digital Finance, Harald Lund, Head of second opinion CICERO and Gus Botsford, Chromaway defining impact reporting in the Green Assets Wallet.

Going forward, a key focus is on making investment opportunities in Emerging Markets more accessible to investors. The GAW team is currently working with early issuers of green debt in Emerging Markets to demonstrate a wider range of investment products -and with greater impact!

-If we invest in solar in Sweden, we meet one SDG. If we can find a solar investment in Africa, we can meet up to 7 SDGs, reaching beyond clean energy targets to gender, equality and health, said Åke Iverfeldt, CEO Mistra.

Another key element of the GAW project is knowledge transfer. Working with best in class real estate company Vasakronan helps set the stage and lead the way for "green building impact reporting" for new issuers of green debt.

Stockholm Green Digital Finance Joins the Climate Chain Coalition

Reaching the Paris Agreement with Digital Ledger Technology

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The Climate Chain Coalition (CCC) is an open global initiative to support collaboration among members and stakeholders to advance blockchain (distributed ledger technology) and related digital solutions (e.g. IoT, big data) to help mobilize climate finance and enhance MRV (measurement, reporting and verification) to scale climate actions for mitigation and adaptation.

-There are obvious synergies between Stockholm Green Digital Finance and the objectives of the Climate Chain Coalition and we look forward to collaborate on solutions for accelerating climate finance globally, said Cecilia Repinski at the first inaugural meeting of the Coalition in Frankfurt on May 25th.

More information on the Climate Chain Coalition can be found here.

Sweden and France leads the way -from Green Bonds to Blockchain

Swedish National Radio interviewed a panel, including the Minister for Financial Markets, Per Bolund, to discuss and compare green financial innovation in Sweden and in France

Both Sweden and France have risen to the task of meeting the Paris Accord by demonstrating leadership on green finance and investment in the fight on climate change. As such, the countries have agreed on a partnership to continue leading the way as green finance pioneers for others to follow suit.

On May 29, the Swedish-French Partnership on Sustainable Finance convened at Swedish bank SEB in Stockholm to discuss and share experiences in green financial innovation.

Since world leaders finally agreed on the Paris Accord to fight climate change, France has taken a number of steps to deliver on the Accord including issuing a sovereign green bond for green projects including solar roads.

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Sweden has long led the way in green bond issuance and to scale the market further, the Swedish Government launched a Green Bond Inquiry in 2017 headed by Mats Andersson. One of the key recommendations to the Swedish Government is to issue a sovereign green bond just as France.

The Radio Program "Klotet" convened a panel during the Swedish-French conference to discuss the importance of green financial innovation, the additionality vs. leadership signal of a state green bond, other green financial innovations (such as crowdfunding) as well as blockchain based solutions for speeding up green finance. Panellists included Per Bolund, Mats Andersson, Thomas Sterner and Cecilia Repinski.

The full program can be found here: https://sverigesradio.se/vetklotet

World Bank “Innovate4Climate” Showcasing DLT Solutions for Meeting the Paris Agreement

Between 22-24 May, the World Bank convened industry experts and innovators in Frankfurt to discuss efficient ways to meet the financing needs of the Paris Agreement

Meeting the Paris Agreement's commitments require climate-resilient, low-carbon investments at unprecedented speed and scale. The financial sector has a significant role to play in the fight against climate change, for example in terms of new innovative products. 

Emerging market economies will need about $23 trillion to meet the Paris objectives. Over the next 15 years, the world will require nearly $90 trillion in new infrastructure, mostly in developing and middle-income countries, and all of it climate-resilient. 

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The Conference co-hosted a number of workshops on cutting edge solutions to help unlock the trillions. One such workshop was co-hosted by Stockholm Green Digital Finance, Climate Ledger Initiative (CLI), World Bank Group, Gold Standard and Climate-KIC and explored practical use cases for digital ledger technology to speed up investments at scale. This was far from the only workshop on technology driven solutions for green finance.

Throughout the conference a number of cutting edge solutions were demonstrated and discussed, from idea stage to actual product development. Solutions included everything from putting carbon markets on the blockchain to solutions for retail consumers to offset purchases with carbon credits on the blockchain. Other solutions involved helping investors identify bankable green projects to crowdfunding platform to finance solar in rural Africa.

One can without doubt conclude that financial technology innovations are increasingly coming up with much needed practical solutions to speed and scale sustainable finance. The day after the conference, the newly established Climate Chain Coalition convened 75 participants, all looking into technology solutions, to formalize working groups to drive new solutions to the market at an even stronger rate.

Digital ledger technology has arrived to stay in the world of green finance.

Blockchain Initiative Aims to Deliver Billions in Green Finance, Article by Dagens Industri

On May 2nd, Swedish Business Journal "Dagens Industri" met with Stockholm Green Digital Finance to learn about the Green Assets Wallet innovation project

-We want to scale green debt supply by cutting costs for issues of green debt, for example, through automated validation and impact reporting of green deliverables, says Cecilia Repinski, Executive Director.

 CECILIA REPINSKI, STOCKHOLM GREEN DIGITAL FINANCE. PHOTO FROM DAGENS INDUSTRI. PHOTOGRAPHER:  AMANDA LINDGREN

CECILIA REPINSKI, STOCKHOLM GREEN DIGITAL FINANCE. PHOTO FROM DAGENS INDUSTRI. PHOTOGRAPHER:  AMANDA LINDGREN

The Green Assets Wallet is an innovation project that will demonstrate such removal of transaction costs through remote sensing, IoT etc.

-At the same time, we need to deliver the reliability needed for investors to consider a wider range of investment opportunities, for example, in new entrants in Emerging Markets where the needs are the greatest.

The full interview can be found here in Swedish: https://www.di.se/hallbart-naringsliv/blockkedja-ska-sakra-miljarder-till-nya-heta-trenden/

Stockholm Green Digital Finance Collaboration with Stockholm Sustainable Finance Centre

In December 2017, the Swedish Government launched the Stockholm Sustainable Finance Centre, established as a joint venture between the Stockholm Environment Institute and the Stockholm School of Economics

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Stockholm Green Digital Finance is a collaborating partner to the Centre that aims to 'provide a tangible push to sustainable finance by leveraging Swedish leadership, enabling partnerships and ultimately achieving impact'.

Stockholm Green Digital Finance is thrilled to be collaborating with Stockholm Sustainable Finance Centre on innovative solutions for scaling green finance and investments, says Cecilia Repinski, Executive Director of Stockholm Green Digital Finance.

The collaboration spurs from the shared objective of the two initiatives to explore solutions for getting capital to where it is most needed for successful delivery on the Sustainable Development Goals and the Paris Agreement.

Under the Lead of UN Environment, Financial Centers Invited to the Green Assets Wallet

Global Financial Centers convened in Milan 12-13 April for the Inaugural Meeting of the Financial Centers for Sustainability (FC4S) Network

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The FC4S Network is set up to exchange experience and take common action on shared priorities to accelerate green and sustainable finance. The Network investigates transformational opportunities for sustainable finance and facilitates cooperation for global reach.

As a founding Network Member, Stockholm Green Digital Finance, extended an invitation for FC4S Network Members to participate in the Green Assets Wallet innovation project, funded and co-developed by the Emerging Markets Dialogue on Finance of GIZ.

Network Members were called upon to see how the Green Assets Wallet can serve actors in their markets with respect to green debt opportunities. Either to attract sustainable investments, or to identify credible investment opportunities, with a special focus on Emerging Markets.

SGDF Executive Director listed as one of the Top 100 Women in Fintech

On April 11, the UK Global Fintech Hub LATTICE80 released a list of the next generation of women in fintech

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The list was put together by LATTICE80 in collaboration with Miss Kaya, the financial platform for women, as a way to promote inclusion and diversity in the fintech sector.

As opposed to the traditional banking sector in the past decades, we continue to see more women as entrepreneurs and holding key positions across a range of financial services organisations, LATTICE80 writes.

The full list can be fund here.

Stockholm Green Digital Finance moves into Norrsken House

Stockholm Green Digital Finance joins Norrsken House's Ecosystem Impact Community

Norrsken is a Foundation set up to deliver high impact through technology. The Foundation provides funding and an impact platform for entrepreneurs delivering solutions to development challenges. 

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At the Norrsken House, the Foundation offers a co-working and co-creating space for its own initiatives (Klarity, 29K etc), impact tech start-ups and independent initiatives missioned to deliver sustainable development.

As of April 1, Stockholm Green Digital Finance joins the Norrsken House community as an Ecosystem Impact member. 

-We are truly excited to be working in this amazing space created by the Norrsken Foundation. It is the perfect community for Stockholm Green Digital Finance to engage with around impact tech to deliver financing solutions for sustainable and fair societies, says Cecilia Repinski.

Alpha Phase of the Green Assets Wallet (GAW) Completed

Öhman hosted the second GAW partners meeting on March 27 2018 wrapping up the Alpha development phase of the technology build

 ANNA BELLANDER, STOCKHOLM GREEN DIGITAL FINANCE, PRESENTS KEY DECISION ITEMS OF THE GREEN ASSETS WALLET ALPHA PHASE

ANNA BELLANDER, STOCKHOLM GREEN DIGITAL FINANCE, PRESENTS KEY DECISION ITEMS OF THE GREEN ASSETS WALLET ALPHA PHASE

As the Green Assets Wallet technology build is moving into the Beta development phase, all project partners convened for detailed discussions around the completed phase and the next steps of the innovation project.

In the Alpha phase, critical steps and choices were made in terms of transparency, level of identify, units, objects and flexibility. August Botsford of ChromaWay, Technical Lead for the Green Assets Wallet, presented and facilitated a discussion with all partners around how green finance elements translates into the Postchain technology. Kristna Alnes from CICERO co-facilitated the discussion by connecting the technology dimensions with a green finance context, for example, concerning impact reporting.

The Green Assets Wallet team is now embarking upon the Beta development phase.

The Green Assets Wallet is a joint innovation project under the lead of Stockholm Green Digital Finance with ChromaWay, CICERO, GIB, Vasakronan, Mistra, Öhman, SEB. The project is funded and co-developed by the Emerging Markets Dialogue on Finance of (GIZ) GmbH commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ).

 

Fintech and Blue Bonds Suggested as Financing Solutions for a Healthy Baltic

 Marcus Svedberg, advisor to Stockholm Sustainable Finance Center and representative for Stockholm Green Digital Finance at the Baltic Sea Future conference 2018.

Marcus Svedberg, advisor to Stockholm Sustainable Finance Center and representative for Stockholm Green Digital Finance at the Baltic Sea Future conference 2018.

When the Baltic Sea Future arranged its yearly international conference on solutions for the Baltic, financial tools including financial technology and bonds were on the agenda.

In a panel with Magnus Billing (CEO, Alecta), Ugiz Zanders (Latvian Ministry for Environment), Alexander Schenk (EIB), Marcus Svedberg representing Stockholm Green Digital Finance called for innovative solutions for a healthy Baltic Sea, including Fintech (such as the Green Assets Wallet blockchain based technology) and Blue Bonds.

The Northern European Partnership for Sustainable Finance Discussing Fintech Solutions

On March 6, the Smith School of Oxford University, the City of London and the UK Green Finance Initiative convened leading pioneers in sustainable finance from Northern Europe to share innovations to help scale the market.

Cecilia Repinski from Stockholm Green Digital Finance particiated in a panel with Amine Bel Hadj Soulamin (BNP Paribas), Andreas Finer (Arabesque), Romina Savova (PensionBee) to discuss the possibilities of machine learning, big data and blockchain for leveraging sustainable investments, including the Green Asset Wallet innovation project financed by the Emerging Markets Dialogue on Finance (EMDF) of GIZ. 

The panel was moderated by Richard Mattison of Trucost.

Luca de Lorenzo (SEI) who heads the Stockholm Sustainable Finance Center, a collaborating partner to Stockholm Green Digital Finance, was invited to introduce the new government funded center and to announce Sweden's hosting of the next conference in 2019. 

 THE "GREEN FINTECH" PANEL AT THE NORTHERN EUROPEAN PARTNERSHIP FOR SUSTAINABLE FINANCE, LONDON, MARCH 2018.

THE "GREEN FINTECH" PANEL AT THE NORTHERN EUROPEAN PARTNERSHIP FOR SUSTAINABLE FINANCE, LONDON, MARCH 2018.

G20 invited Green Fintech Innovators to its London meeting on Sustainable Finance

When the G20, under the lead of the Argentinian presidency, convened its Sustainable Finance Study Group in London on 20 February, fintech solutions for advancing sustainable finance was one of the key topics for discussion.

 DIGITAL FINANCE DISCUSSED AT G20 GREEN FINANCE STUDY GROUP IN LONDON, 20 FEBRUARY 2018

DIGITAL FINANCE DISCUSSED AT G20 GREEN FINANCE STUDY GROUP IN LONDON, 20 FEBRUARY 2018

A selected number of private sector actors, ranging from start-ups to established players such as PwC, ING and Everledger, shared their initiatives with the G20 representatives to exemplify how green fintech can serve sustainable finance, for example, in real estate investments or for verifying responsibly sourced diamonds. As a participant in the meeting and discussions, Stockholm Green Digital Finance, who runs the Green Asset Wallet Innovation project, applauded the G20's growing recognition of fintech as a potential lever for accelerating sustainable capital to deliver on the SDGs and Paris Agreement.

SweSIF Seminar on Blockchain Opportunities for Green Investment

Öhman, project partner to the Green Assets Wallet innovation project, hosted a SweSIF seminar on blockchain on February 21st.

Erika Wranegård, Fund Manager at Öhman, presented the opportunities for technology to help scale the green bond market, in particular, how the Green Assets Wallet (GAW) can both lower transaction costs to support the supply of issuance and also deliver trust and transparency to the investor.

Tobias Edman, Founder of Geografiska Informationsbyrån, demonstrated the eoMapper remote sensing and the possibilities for cost efficient, automated third party verification of satellite imagery. The eoMapper technology will be used in GAW project pilots to demonstrate these possibilities in practice. 

The presentations were followed by a panel discussion with Johan Henningson of SEK and Henrik Hjelte of ChromaWay around blockchain technology in challenging markets and for supporting the "second wave" of green bonds, i.e. impact reporting.

 

Nordic Investment Bank discussing Green Finance with Alecta and Stockholm Green Digital Finance

When the Nordic Investment Bank organised a seminar on" Green Finance for the Future" in Stockholm, Magnus Billing (CEO of Alecta) and Cecilia Repinski (ED of SGDF) shared their perspectives on the roles of a policy framework and technological innovation for accelerating green finance.

On the same day, the EU High-Level Expert Group on Sustainable Finance (HLEG) delivered its recommendations on how to shift Europe’s financial system from post-crisis stabilisation to supporting long-term sustainable development.

The full article can be found here.

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CECILIA REPINSKI AND MAGNUS BILLING AT NORDIC INVESTMENT BANK SEMINAR

The Green Asset Wallet debated at Sustainable Finance Conference

Erika Wranegård, fund manager at Öhman, presented the Green Asset Wallet innovation project at the annual conference for sustainable finance in Sweden (Hållbara Finanser by Aktuell Hållbarhet and Dagens Industri).

Asset management firm Öhman is a leader in sustainable investing and a project partner to the Green Asset Wallet. Erika Wranegård explained the current barriers in the green bond market such as costs to entry, and how a technology such as the Green Assets Wallet can address these in support of scaling the market.

The presentation was followed by a panel discussion with Björn Bergstrand (Kommuninvest), Tobias Lindbergh (Handelsbanken), Cecilia Repinski (Stockholm Green Digital Finance) and Erika Wranegård.

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GAW Kick Off Breakfast Meeting in Stockholm

On 16 January, the full project consortium in the Green Asset Wallet innovation project convened in Stockholm to kick off project activities.

The consortium convenes a unique mixture of green finance specialists and pioneers, technology entrepreneurs and researchers for the co-creation of an entirely new blockchain based technology aimed at supporting the green debt market.

Stockholm Green Digital Finance, blockchain engineer ChromaWay, CICERO, the Emerging Markets Dialogue on Finance of GIZ, and Geographic Information Bureau are constructing the technology around three elements: Validation, Impact and Trust.

Swedish Bank SEB (the green bond pioneer), Öhman and Mistra (leaders in responsible investment) and Vasakronan (the first issuer of a corporate green bond) are actively engaged offering input, pilots and testing. 

The team is soon to be complemented by Emerging Market actors issuing and investing in green debt.

The Green Asset Wallet aims at scaling green investments by delivering efficiency and trust to the green debt market and effectively bridge investors with green investment opportunities. The innovation project is financed by the Emerging Markets Dialogue on Finance (EMDF) of the German GIZ GmbH. More information about the Green Asset Wallet here.

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Welcome our newest team member -Anna Zetterström Bellander

Anna Zetterström Bellander joins Stockholm Green Digital Finance in January 2018 to lead the Green Assets Wallet innovation project. 

We are very excited to have Anna join the team and to develop the Green Assets Wallet together with ChromaWay, CICERO, Geografiska Informationsbyrån and EMSD, and with instrumental support from our Capital Market Partners Öhman, Mistra, SEB and Vasakronan. More about Anna here.

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Launching the Green Assets Wallet innovation project in Paris

Stockholm Green Digital Finance and ChromaWay launch the collaboration at the Fintech Community at La Bourse on December 8, in conjunction with Climate Finance Day and One Planet Summit in Paris, France.

The project, Green Assets Wallet: Scaling Green Investment through Blockchain, is a blockchain-based technology for cost efficient and immutable verification of green impacts. The technology is funded by the Emerging Markets Dialogue on Finance (EMDF), part of a project of GIZ GmbH, by Germany’s Federal Ministry for Economic Cooperation and Development (BMZ). 

Project partners include blockchain engineering startup ChromaWay, research institute CICERO, geographic data provider GIB, and capital market actors – including asset management firm Öhman, Swedish bank SEB, Mistra, Vasakronan and emerging market banks.

Green Assets Wallet will help to effectively channel private institutional capital to green projects globally, specifically supporting green emerging markets investments. Read the press release here.

 

 HENRIK HJELTE; CEO CHROMAWAY, aND CECILIA REPINSKI; EXECUTIVE DIRECTOR, STOCKHOLM GREEN DIGITAL FINANCE, Paris 8 DEC 2017

HENRIK HJELTE; CEO CHROMAWAY, aND CECILIA REPINSKI; EXECUTIVE DIRECTOR, STOCKHOLM GREEN DIGITAL FINANCE, Paris 8 DEC 2017