Publication:
Using Blockchain to Support the Energy Transition and Climate Markets: Results and Lessons from a Pilot Project in Chile

Loading...
Thumbnail Image
Files in English
English PDF (795.59 KB)
1,832 downloads
English Text (160.53 KB)
136 downloads
Published
2020-12
ISSN
Date
2021-04-05
Author(s)
Editor(s)
Abstract
Countries can achieve a successful energy transition and participate effectively in the climate market by applying available knowledge, good practices, and lessons learned. This paper provides an example of how blockchain technology contribute to these goals by linking energy and climate sectors, businesses, and customers. It assesses a pilot blockchain project undertaken in Chile to support distributed generation and carbon markets. Recommendations for scaling up innovative technologies to advance clean energy and climate change mitigation agendas are adduced.
Link to Data Set
Citation
World Bank. 2020. Using Blockchain to Support the Energy Transition and Climate Markets: Results and Lessons from a Pilot Project in Chile. © World Bank. http://hdl.handle.net/10986/35371 License: CC BY 3.0 IGO.
Digital Object Identifier
Associated URLs
Associated content
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections

Related items

Showing items related by metadata.

  • Publication
    Joint MDB Report to the G8 on the Implementation of the Clean Energy Investment Framework and Their Climate Change Agenda Going Forward
    (World Bank, Washington, DC, 2008-06) African Development Bank; Asian Development Bank; European Bank for Reconstruction and Development; European Investment Bank; Inter-American Development Bank; World Bank Group
    The 2005 Gleneagles G8 summit in July 2005 stimulated a concerted effort of the Multilateral Development Banks (MDBs) to broaden and accelerate programs on access to energy and climate change mitigation and adaptation through the Clean Energy Investment Framework (CEIF). At the Gleneagles summit, it was agreed that a report on the implementation of the CEIF would be prepared for the 2008 G8 (Group of Eight: Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States) summit hosted by Japan. This joint report of the MDBs to the G8 summit in Hokkaido is intended to provide information on the outcomes and lessons learned under the CEIF, describe the collective MDB objectives for addressing the energy access and climate change challenges, and outline how the MDBs plan to build on the CEIF experience to date to more fully achieve these objectives. The report builds upon the 'the MDBs and the climate change agenda' report that was presented at the December 2007 Bali climate change conference. This report describes actions taken by each MDB to develop climate change strategies and programs of actions tailored to their particular client needs, based on resources and funding mechanisms currently available. Under the CEIF, the MDBs have strengthened collaboration on analytical work and programming and committed to expand this collaboration to optimize the impact of their collective actions. In addition to reporting on the status of the CEIF, this report outlines the collective ambition of the MDBs with respect to assisting the developing countries in meeting the climate change challenge, summarizes their evolving strategies designed to meet these objectives and the mechanisms through which they intend to achieve the necessary collaboration to optimize the collective impact of their climate change interventions.
  • Publication
    Blockchain in Financial Services in Emerging Markets, Part II
    (International Finance Corporation, Washington, DC, 2017-08) Niforos, Marina
    Blockchain, or distributed ledger technology, is now disrupting the financial services industry as part of a larger wave of external innovations by digital financial technologies. Emerging markets, due to their higher banking risks, lower bank penetration, and greater presence of digital financing, are an ideal backdrop for the adoption of blockchain-based financial solutions, and benefits could include a technological leap forward and a boost to financial inclusion and growth. This note focuses on selected regions in emerging markets where distributed ledger technology is already affecting the provision of financial services, including Africa, Latin America, and Asia.
  • Publication
    Using Blockchain to Enable Cleaner, Modern Energy Systems in Emerging Markets
    (International Finance Corporation, Washington, DC, 2018-11) Miller, Douglas; Mockel, Peter
    Emerging markets must attract significant international financing to meet their goals for mitigating carbon pollution and increasing access to clean, affordable, reliable, and resilient energy. The authors* of this note examine how blockchain technology can—if paired with smart, interconnected devices—promote needed investments by both improving investment processes and promoting the adoption of modern energy systems and business models. Given the nascent status of both blockchain technology and blockchain applications specific to the energy sector, this note offers guidance to better assess where and how to apply blockchain technology to achieve a modern, clean, energy future including in emerging markets.
  • Publication
    Blockchain in Financial Services in Emerging Markets, Part I
    (International Finance Corporation, Washington, DC, 2017-08) Niforos, Marina
    Financial institutions around the world find themselves continually barraged by external innovations they are often unable to absorb and internalize. The emergence of innovative digital financial technologies has challenged traditional players in the sector by demonstrating new ways to deliver value across the entire financial value chain. Blockchain, or distributed ledger technology, is just such a disruptive, and possibly game-changing, innovation. Emerging markets are in general characterized by low banking penetration, the exit of financial players from certain markets, strong demand for financial inclusion both from individual consumers and small businesses, high levels of mobile penetration, and less developed business infrastructure and financial sector incumbents. These conditions in combination can be a powerful catalyst for the adoption of blockchain-based financial solutions and can provide the basis for a technological leap forward and a boost to financial inclusion and growth.
  • Publication
    Can Blockchain Technology Address De-Risking in Emerging Markets?
    (International Finance Corporation, Washington, DC, 2017-05) Ramachandran, Vijaya; Rehermann, Thomas
    Block chain, or distributed ledger technology, has the potential to address many problems in emerging markets. In this note the authors consider whether block chain can be used to mitigate the problem of de-risking by financial institutions, which affects receivers of remittances, businesses that need correspondent banking relationships, and charities working in conflict countries. Block chain is an evolving technology, and understanding its scope and limitations will be critical to employing it to address these and related issues.

Users also downloaded

Showing related downloaded files

  • Publication
    Classroom Assessment to Support Foundational Literacy
    (Washington, DC: World Bank, 2025-03-21) Luna-Bazaldua, Diego; Levin, Victoria; Liberman, Julia; Gala, Priyal Mukesh
    This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.
  • Publication
    Global Economic Prospects, June 2024
    (Washington, DC: World Bank, 2024-06-11) World Bank
    After several years of negative shocks, global growth is expected to hold steady in 2024 and then edge up in the next couple of years, in part aided by cautious monetary policy easing as inflation gradually declines. However, economic prospects are envisaged to remain tepid, especially in the most vulnerable countries. Risks to the outlook, while more balanced, are still tilted to the downside, including the possibility of escalating geopolitical tensions, further trade fragmentation, and higher-for-longer interest rates. Natural disasters related to climate change could also hinder activity. Subdued growth prospects across many emerging market and developing economies and continued risks underscore the need for decisive policy action at the global and national levels. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
  • Publication
    Europe and Central Asia Economic Update, Fall 2024: Better Education for Stronger Growth
    (Washington, DC: World Bank, 2024-10-17) Izvorski, Ivailo; Kasyanenko, Sergiy; Lokshin, Michael M.; Torre, Iván
    Economic growth in Europe and Central Asia (ECA) is likely to moderate from 3.5 percent in 2023 to 3.3 percent this year. This is significantly weaker than the 4.1 percent average growth in 2000-19. Growth this year is driven by expansionary fiscal policies and strong private consumption. External demand is less favorable because of weak economic expansion in major trading partners, like the European Union. Growth is likely to slow further in 2025, mostly because of the easing of expansion in the Russian Federation and Turkiye. This Europe and Central Asia Economic Update calls for a major overhaul of education systems across the region, particularly higher education, to unleash the talent needed to reinvigorate growth and boost convergence with high-income countries. Universities in the region suffer from poor management, outdated curricula, and inadequate funding and infrastructure. A mismatch between graduates' skills and the skills employers are seeking leads to wasted potential and contributes to the region's brain drain. Reversing the decline in the quality of education will require prioritizing improvements in teacher training, updated curricula, and investment in educational infrastructure. In higher education, reforms are needed to consolidate university systems, integrate them with research centers, and provide reskilling opportunities for adult workers.
  • Publication
    Digital Africa
    (Washington, DC: World Bank, 2023-03-13) Begazo, Tania; Dutz, Mark Andrew; Blimpo, Moussa
    All African countries need better and more jobs for their growing populations. "Digital Africa: Technological Transformation for Jobs" shows that broader use of productivity-enhancing, digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, it can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of Africa’s population, but only 22 percent uses such services. And the average African business lags in the use of smartphones and computers as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: affordability of these new technologies and willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small- and medium-size businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skills-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty throughout Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.
  • Publication
    World Development Report 1994
    (New York: Oxford University Press, 1994) World Bank
    World Development Report 1994, the seventeenth in this annual series, examines the link between infrastructure and development and explores ways in which developing countries can improve both the provision and the quality of infrastructure services. In recent decades, developing countries have made substantial investments in infrastructure, achieving dramatic gains for households and producers by expanding their access to services such as safe water, sanitation, electric power, telecommunications, and transport. Even more infrastructure investment and expansion are needed in order to extend the reach of services - especially to people living in rural areas and to the poor. But as this report shows, the quantity of investment cannot be the exclusive focus of policy. Improving the quality of infrastructure service also is vital. Both quantity and quality improvements are essential to modernize and diversify production, help countries compete internationally, and accommodate rapid urbanization. The report identifies the basic cause of poor past performance as inadequate institutional incentives for improving the provision of infrastructure. To promote more efficient and responsive service delivery, incentives need to be changed through commercial management, competition, and user involvement. Several trends are helping to improve the performance of infrastructure. First, innovation in technology and in the regulatory management of markets makes more diversity possible in the supply of services. Second, an evaluation of the role of government is leading to a shift from direct government provision of services to increasing private sector provision and recent experience in many countries with public-private partnerships is highlighting new ways to increase efficiency and expand services. Third, increased concern about social and environmental sustainability has heightened public interest in infrastructure design and performance. This report includes the World Development Indicators, which offer selected social and economic statistics for 132 countries.