Digital pioneer Adaptation Ledger partners with iDE Canada to help vulnerable communities adapt to climate change
LONDON, UK | WASHINGTON, DC | OTTAWA, CANADA – 15 April 2019:
Adaptation Ledger™ and iDE Canada today announced the launch of a pioneering initiative that applies cutting-edge digital technology and governance innovation to help adapt to climate change. Supported by the RBC Foundation, iDE Canada is working in collaboration with Adaptation Ledger – a unique initiative that enhances climate adaptation solutions by integrating blockchain, smart standards and a unified metric for vulnerability reduction.
iDE sees the impact of climate change first-hand in its work with rural communities across Asia, Africa and Central America. Adaptation Ledger’s integrated platform of digital technologies and adaptation governance solutions using the Vulnerability Reduction Credits (VRC™) system has the potential to significantly enhance efforts to build climate resilience in vulnerable communities across the globe and here in Canada.
Vulnerability Reduction Credits are an effective, sustainable, systems-based approach to climate adaptation metrics. They make it possible to evaluate the success of specific climate adaptation projects, attribute the credit for measureable improvements to the people and organizations who brought them about, and incentivize the public and private sectors to respond by directing more financing toward those climate adaptation projects that prove most successful.
Adaptation Ledger co-founders and principals, Karl Schultz, Ira Feldman and Tom Baumann are leading the design and validation of the Adaptation Ledger platform using data and operational experience from iDE’s work bringing improved agricultural technology, water and sanitation solutions to vulnerable populations.
Karl Schultz, also chair of The Higher Ground Foundation and the inventor and manager of the Vulnerability Reduction Credits (VRC) system said, “This pilot application of distributed ledger technology for VRCs promises to validate an approach for all relevant parties involved in adaptation to get their heads around the value of adaptation, activate this value for better management, evaluation, and finance, and do it in a manner fit for the 21st Century.”
Stuart Taylor, iDE Canada’s CEO said, “We are excited to work with Adaptation Ledger to leverage our on-the-ground experience to explore the potential for disruptive technologies like blockchain to deliver greater value to smallholder farmers.”
Tom Baumann, who is also co-founder of ClimateCHECK and the Climate Chain Coalition, said, “There is an urgent need to mobilize adaptation finance, and digital solutions can provide many benefits to enhance climate actions. We are appreciative of the RBC Foundation’s support and are eager to work with such clean finance leaders to advance innovative and collaborative solutions integrating sustainability, finance, technology, and governance.”
Also advising on this phase of Adaptation Ledger’s activities is IOTA, a ground-breaking open source distributed ledger to power the “Internet of Things.” Julie Maupin, Director of Social Impact and Regulatory Affairs, said, “Applying distributed ledger technology to climate change problems is a game changer. The breakthrough here is the integrated approach in which what’s actually happening on the ground can be measured in real time, so that climate financing can be directed to the projects and places where it’s having the greatest positive impact on the lives of vulnerable populations. IOTA believes this work, beginning now with the current phase, has the real potential to re-shape how we all think about climate services for adaptation and resilience. We look forward to contributing to this phase, the results of which will pave the way for further collaboration.”