The Metaverse has been gaining substantial traction as a concept and future development recently.
This can be defined as a computing platform/virtual world that can provide digital experiences as an alternative or replica of the real world.
One of the key aspects, is that all of this exists on a foundation of distributed ledger and blockchain technologies.
Put simply, the Metaverse is a network of simulated digital environments (augmented reality) with its main focus on social connection with others in an online environment.
Given the increasing popularity and expected growth in this digital realm and associated concepts, we believe there could be a major positive impact to sustainability. Lets explore more below (and hence flow through to connected themes in Sustainable Finance).
Key Potential Implications
If the Metaverse can help drive aspects of sustainability improvement with more use of the digital world, then we believe this to be a net-net positive.
We can imagine a situation where we see Use of Proceeds start to shift experiences to virtual outcomes, helping reduce emissions and increase energy efficiency, while also delivering social programs. We can also see KPIs connected to these themes over time.
Overall, definitely watch this space or ask your Avatar to keep an eye open for you!