Skip to content

Enlisting FinTech to help create a sustainable future

As sustainability becomes ever more critical for our world and the fintech sector continues to burgeon, this report looks at the key points where the two intersect. Drawing from research done by McKinsey & Company and the proceedings of the ESG (environment, social and governance) track of Singapore FinTech Festival 2022 organized by Elevandi, this report Enlisting Fintech to help create a sustainable future, shows how fintech can contribute towards ESG by not only addressing its gaps and problems but by also helping to lead the way.

Funding for ESG remains much needed and fintech can both mobilize capital and deliver innovative financing to inject momentum into ESG initiatives. Additionally, Fintechs for Good are already and can continue to be involved in a broad base of ESG activities including and also going beyond finance to encompass intelligence and analytics, and carbon tracking and offsetting; balancing societal and environmental aspirations with profitability while maintaining integrity by having zero tolerance for greenwashing. Amongst these areas, data stands out as one that fintechs can particularly benefit. Clean, consistent and credible data is key for making informed decisions, evaluating market participants and assessing the performance of initiatives, and is something that fintechs are well placed to provide through their cloud-driven platforms, agility and ability to innovate. Blockchain and artificial intelligence in particular could be instrumental. To advance fintechs’ contribution in the ESG space, the public sector is called to work in partnership with the private sector as well as provide a regulatory framework.

The fintech industry sits at a pivotal juncture of finance and technology. In the face of the most frightful climate challenge faced in human memory, fintech has the ability, and the opportunity, to rise to the occasion.

Download and read the full report for free by clicking the button above.

Browse more FinTech industry insights

COMMENTS

RELATED ARTICLES