Evercity

End-to-end platform streamlining green debt and carbon origination.

Past and Current Partners

UN Climate Change, Techstars, ABN AMRO, Web3 foundation

Active Countries

Countries in the EU and the Asia-Pacific region

Thematic area(s)

Climate

Technology

Open Source, SaaS, Blockchain

Organisation Name

Evercity UG

The Problem

The target problem Evercity Platform is trying to solve is to reduce the high administrative costs that issuers of sustainable finance instruments have to pay to structure their green finance issuances. At the same time, financial institutions also face problems related to the transparency of their investments which discourages them from financing more projects in developing countries.

The Solution

Evercity's platform will streamline the process for both sides, using digital technologies to increase the accessibility of sustainable finance for SMEs in developing countries. They also introduce a new type of financial instrument - carbon forward contracts, which will help SMEs attract early financing to implement their project.

How it works?

Step 1: Green screening. Projects that want to issue sustainable finance register on the platform, log in, and add financial information about their company. They then select relevant activities/sectors that correspond with their business and create a list of assets. For each asset, they answer a questionnaire based on EU, Climate Bonds or other taxonomy to understand their eligibility for green finance. After eligible assets are identified, Evercity team members help assess climate-related risks for each asset using historical climate data and scenario-based models. Issuers also select impact indicators for each asset and indicate reporting parameters (data sources, methodology, frequency of reporting).
Step 2: Framework creation. Issuers answer guided questions on the platform to generate a green finance framework according to global standards based on a simple questionnaire. The framework includes the parameters of the future reporting (frequency, level of detail) which will be done on the platform. The auditor logs onto the platform to review the framework and the list of eligible assets and verifies with a digital signature on the blockchain.
Step 3: Issuance. An instrument can be issued in the decentralized registry using blockchain, or in a traditional way.
Step 4: Monitoring. Based on the monitoring frequency selected at the green screening stage, the platform sends notifications to issuers. Issuers log into the platform and provide impact data for each selected indicator.
Step 5: Reporting. Based on the reporting frequency selected at the framework creation stage, the platform sends notifications to. Issuers provide data on bond allocation to each project for this period. Impact data is aggregated in the report automatically based on the information submitted by issuers or collected automatically using IoT / satellites. Based on these data points, the Evercity platform automatically generates green bond reports which can be verified by the auditor on the blockchain. Information on physical climate risks can also be included in the report.

Bridging the digital divide

The solution includes a consulting component - its team members can provide guidance and advice on green finance campaigns to underserved population groups.

Impact and highlights

Helped 5 small businesses attract approximately $1M of financing.

Plans for expansion

They plan to strategically advance into the US, Gulf Cooperation Council (GCC) and ASEAN regions. Specifically, Southeast Asia - WWF Singapore, Monetary Authority of Singapore, ASEAN Secretariat, etc., GCC Region - GMIS, Sustainable Fintech Alliance (UAE), Global Carbon Council (Qatar), DNV, USA & Canada - Fintech Innovation Lab, Techstars, Ecotrust Canada, EU - LPA, Luxembourg Blockchain Lab, Climate Bonds Initiative. As regular participants of the annual UN Conference on Climate change, they have unique access to customers and decision-makers. They have signed agency agreements with well-established industry consultants and existing platform solutions such as the Frankfurt-based cap-tech consultant LPA. Evercity leads the finance working group in the Climate Chain Coalition.

contact solution provider