Global fintech and funding innovation ecosystem

Rise by Barclays Insights Report: Climate Fintech

Innovate Finance | Jun 8, 2021

Climate fintech Rise by Barclays - Rise by Barclays Insights Report:  Climate FintechThe FinTech sector has an important contribution to make in reducing emissions, achieving net zero agendas and enabling climate action. The latest edition of the Rise Insights report explores how FinTechs are shaping a more sustainable world with ‘green’ financial products and services that add value for consumers, clients and corporations.

The report covers the enablers that support innovation and gives Climate FinTech examples from the markets and consumer perspective. There’s also updates from the Rise ecosystem and Barclays teams. In this article, we share some of the highlights.

“I see significant opportunities for innovative, fast-growth companies that are developing financial technology in supporting the transition to net zero,” writes Sasha Wiggins, Group Head of Public Policy and Corporate Responsibility at Barclays. “It’s by collaborating with business and technology teams within banks that FinTechs can understand the real-world possibilities and turn ideas into practical solutions”.

The enablers of Climate FinTech

What factors are driving innovation and creating opportunities for the sector? There are three.

First, new sources of, and ways of treating, climate-related data are being discovered and applied by FinTechs. The data needs to have greater availability, consistency and granularity to provide firm insights into companies’ effective climate actions. FinTechs pursuing this goal include Net Purpose, YvesBlue and Nossa Data, an alumnus of the 2021 New York Barclays Accelerator, powered by Techstars.

Second, emergent government policies and standards addressing climate change present challenges for organisations but opportunities for FinTechs. We’re unlikely to see a single, globally recognised data standard emerge, so being able to compare standards and investments across international markets at the right level of granularity will bring transparency. It’s a massive data modelling and comparison exercise!

See:  FFCON21 On-Demand Video: Fintech’s Opportunity to Breaking to Breaking Barriers to Net Zero

Third and last, there’s technology. Blockchain is perhaps most relevant to Climate FinTech. It’s a vital way of tracking the highly connected world of carbon emissions and energy consumption. IoT, 5G and AI are additional technologies that will allow investors to track huge volumes of metrics on physical assets without human intervention.

The effectiveness of any new Climate FinTech value proposition depends on understanding these enablers, which are covered in greater depth in the report.

Continue to the full article --> here

Download the 28 page PDF report --> here


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