WEF launches accelerator to boost crypto ESG efforts

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The World Economic Forum has partnered with CoinDesk, a news site specializing in digital currencies, to launch the Crypto Impact and Sustainability Accelerator (CISA), aimed at shaping the future of environmental, social and governance (ESG) efforts ) crypto-enabled.

The initiative will accelerate progress around ESG goals for the crypto ecosystem, bringing together key players and industry leaders to shape a more inclusive future, the entities said in a joint statement on Friday.

While supporting the development and responsible use of cryptocurrencies, the initiative aims to bridge the understanding gaps between the public and private sectors and shape a cohesive narrative that highlights how the crypto industry can contribute to ESG, the statement added.

“The crypto ecosystem is expected to see massive adoption around the world over the next few years,” said WEF Blockchain Manager Sheila Warren.

“There is an opportunity to shape an inclusive and sustainable future to ensure that we maximize the benefits and minimize the risks ahead…this project aims to bring leaders together to accomplish just that,” Ms Warren said.

The Accelerator will connect the dots with disparate but related efforts within the ESG ecosystem, bringing together private companies, government officials, academics, international organizations and NGOs in multi-stakeholder projects to advance the global ESG agenda with concrete measures.

Environmental and social impact is a top priority for investors, with climate change and social cohesion topping the list in the WEF’s Global Risks 2022 report, released on Tuesday.

The WEF asserts that cryptocurrencies can offer both new ESG-related opportunities and challenges in a diverse and often fragmented ecosystem.

Global ESG challenges challenge national jurisdictions, corporate structures and any form of centralized authority, said Michael Casey, chief content officer at CoinDesk.

“CoinDesk is thrilled to support CISA’s role in building a global, multi-stakeholder community to advance these kinds of crypto ESG solutions.

“We need decentralized information solutions that governments, businesses, investors, and the general public uniformly trust to inform decisions from trusted resources that tackle these issues.”

Philip Hughes and Josh Riddett together on the farm. Courtesy of Easy Crypto Hunter

Multi-stakeholder projects made possible through the new accelerator aim to develop collaborative mechanisms that create common standards in areas such as ESG measurement and ethnographic research, provide funding to accelerate existing initiatives and expand training programs and certification.

It will bring together a vibrant ecosystem around a uniform set of ESG objectives through three-pillar projects that advance learning and enable leadership focused across diverse geographies.

These include a digital ethnography of crypto-enabled financial inclusion efforts, the development of a decentralized autonomous organizations toolkit, and the running of a series of intersection-focused workshops. cryptography and net zero efforts.

Updated: January 15, 2022, 03:49

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