Abstract
The EU recognises green bonds as a critical financing tool for climate and environmental projects. However, there is a pressing need to ensure that these bonds genuinely support green growth instead of allowing greenwashing, where entities present themselves as environmentally friendly without the evidence to support their claims. Greenwashing undermines the credibility of the market and can have a significantly negative environmental impact. To address this issue, a proposed blockchain-based framework called EUGBS-Chain has been introduced to increase transparency and accountability in the EUGB market. The framework utilises blockchain technology to record transactions in a tamper-proof, decentralised ledger that is accessible and verifiable by all stakeholders. With EUGBS-Chain, the EU can ensure that green bonds are used for genuine green growth projects and not just as marketing tools for companies. The proposed framework is open-source and available on the GitHub repository.
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