Introduction of Palm GreenChain, a blockchain-based framework for enhanced traceability, transparency and accountable green bond financing in Malaysia
Tee, Kenny, and Rubbaniy, Ghulame (2025) Introduction of Palm GreenChain, a blockchain-based framework for enhanced traceability, transparency and accountable green bond financing in Malaysia. Discover Sustainability, 6 (1). 1079.
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Abstract
This study employs a theoretical, system design–based methodology to propose the Palm GreenChain framework—a blockchain-based platform aimed at enhancing traceability, transparency, financial coverage, and accountability in green bond financing for sustainable palm oil production in Malaysia. The methodology integrates Ethereum-compatible smart contracts, ESG oracles, IPFS-based data storage, and DAO (Decentralized Autonomous Organization) governance to structure a digital green bond lifecycle. Rather than relying on empirical data collection, the framework is conceptualized through the development of a multi-layered blockchain architecture and validated via comparative analysis with analogous blockchain applications in agriculture. The proposed system is designed to enable real-time traceability of green bond disbursements, automate ESG compliance verification using satellite and IoT data, and strengthen accountability and access to climate finance for smallholder farmers. By embedding performance-based returns within smart contracts, the model aligns financial incentives with conservation goals. Leveraging Malaysia’s advanced land administration infrastructure and digital capabilities, the framework presents a scalable, open-source solution to reduce greenwashing, expand financial inclusion in underserved agricultural communities, and enhance transparency and investor confidence in sustainable agricultural finance. By directly linking green finance to verifiable sustainability outcomes, Palm GreenChain addresses key limitations in conventional green bond mechanisms. Its applicability across diverse agricultural sectors positions it as a replicable blueprint for broader sustainable development. The framework is openly available via its GitHub repository.
| Item ID: | 91844 |
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| Item Type: | Article (Research - C1) |
| ISSN: | 2662-9984 |
| Keywords: | Agriculture, Blockchain, Green bond, Malaysia, Palm oil, Sustainable finance |
| Copyright Information: | © The Author(s) 2025. This article is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License, which permits any non-commercial use, sharing, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if you modified the licensed material. You do not have permission under this licence to share adapted material derived from this article or parts of it. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by-nc-nd/4.0/. |
| Date Deposited: | 23 Oct 2026 04:41 |
| FoR Codes: | 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3501 Accounting, auditing and accountability > 350107 Sustainability accounting and reporting @ 100% |
| SEO Codes: | 18 ENVIRONMENTAL MANAGEMENT > 1806 Terrestrial systems and management > 180601 Assessment and management of terrestrial ecosystems @ 100% |
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