FinTech Weekly Issue #385 - Sustainable Finance: The Fuel For Growth

Issue #385 - Sustainable Finance: The Fuel For Growth

2022-10-13

Sustainable finance and ESG – Environmental, Social, and Governance – require institutions, businesses and consumers to act responsibly to address major social and economic issues. Actually, both start from people, and institutions, business owners and investors follow this sense of responsibility – which is needed. Despite this, it seems that not all agree on how sustainable solutions should be realized. This week, one of the news FinTech Weekly selected for you is the BlackRock case. This top investment company lost over $1 billion after its green investment policies. But the reason why many institutional investors in the US decided to withdraw may not lie only in an anti-ESG movement, but in the suspicion that sustainable policies may be adopted just to attract more participants, without really implementing any useful solution. So, how to identify the boundary between an honest and a misleading use of sustainability? Fintech plays a major role in this, and it’s the basis used by institutions and leaders to create new regulatory frameworks and business environments. This and much more on FinTech Weekly – the free fintech newsletter and magazine to discover the most relevant fintech news and conferences across the globe.

Top Stories

US Republicans pull $1bn from BlackRock over ESG investing concerns
US Republicans pull $1bn from BlackRock over ESG investing concerns
via Financial Times

Many US states are against the green policies of BlackRock: the multi-national investment company lost over $1 billion for institutional investors’ withdrawals.

Top Events

World FinTech Forum
World FinTech Forum
via https://fintechconferences.com

FinTech World Forum 2022 (https://fintechconferences.com) is based in London UK Europe as one of leading fintech events 2022 for global financial services, finance and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Money, Crypto, Cryptocurrency, Digital, Innovation, Wallet, Pensions, Funds, Payment, Tech, Financial Services, Technology, Bank, Wealth Management, Insurtech, Regtech and Wealthtech. For more info visit: https://fintechconferences.com/

Future Branches Austin
Future Branches Austin
via Future Branches

Since 2016, Future Branches has been THE meeting place to benchmark against the best of the best in financial services. Join the event in Austin for 3 days of action-packed stories from speakers of different sized institutions, conversations and connections with the top minds in retail banking, and immersive learning opportunities. Walk away with pages of strategies that inspire customer loyalty and much more!

Podcasts and Videos

Sibos TV: How Sibos is leading the charge on sustainability - Oct 2022

Sustainable Finance

Sibos TV: How Sibos is leading the charge on sustainability - Oct 2022
via Sibos TV

The Sibos conference aims at being the most sustainable event in the world: Melissa Sternberg, Global Head of ESG at Swift, joins the show to talk about how sustainability goals can be reached.

Are ESG ETFs a gimmick? The debate surrounding the transparency and social agendas of sustainable investing

Business Investments Sustainable Finance

Are ESG ETFs a gimmick? The debate surrounding the transparency and social agendas of sustainable investing
via CNBC

Despite ESG – environmental, social and governance – being a new trend in investments, not everyone agrees. Many concerns are not related to ESG itself, but to the fact that companies may use it as a gimmick.

Crypto

Cardano Price Could Pump on its Green Credentials and IMPT Could Too

Blockchain Cryptocurrency Sustainable Finance

Cardano Price Could Pump on its Green Credentials and IMPT Could Too
via Business 2 Community

Cardano is among the most sustainable crypto projects in the digital economy, and its innovative solutions may further increase the value of its crypto: the team behind Cardano and its founder, Charles Hoskinson, have been working on a new consensus mechanism – proof of useful work – which can make blockchain more sustainable.

Banking

Sustainability in global transaction banking: A market imperative

Banking Sustainable Finance

Sustainability in global transaction banking: A market imperative
via McKinsey & Company

According to Bloomberg, sustainable debt instruments reached over $1.6 trillion in 2021. Moreover, GTB – global transaction banking – has a large room for growth. One more point to take into account is that the demand for sustainable banking products exceeds supply – according to BCR Publishing. From this data, it is clear that sustainable GTB is not only a great opportunity for the banking sector but might also become imperative to meet consumers’ and investors' needs.

Innovation

HSBC launches digital platform that revolutionises trade finance

Banking Sustainable Finance

HSBC launches digital platform that revolutionises trade finance
via PR Newswire

The top bank HSBC has launched a new platform for the UK and Hong Kong markets: the HSBC Trade Solutions – HTS – allows clients to manage their trade finance products thanks to one online platform. Thanks to the leverage of API technology, this solution will help HSBC to further improve its future services also under an ESG perspective.

Fintech

The Future of ESGTech: Driving sustainability and ethics

Business Investments Sustainable Finance

The Future of ESGTech: Driving sustainability and ethics
via Finextra

As mentioned, not only consumers but also investors care about ESG and want the businesses and institutions they cooperate with to follow ESG best practices. Moreover, ESG might not be a choice in the near future: the International Sustainability Standards Board and European Commission are setting new standards that can become the basis for a widely adopted regulatory framework.

Two Problems for FinTech to Solve: Cross-Border Payments and ESG Data

Business Regulation Sustainable Finance

Two Problems for FinTech to Solve: Cross-Border Payments and ESG Data
via Monetary Authority of Singapore

Fintech plays a major role in the achievement of ESG-related goals. Singapore keeps this in mind, and one of the most significant speeches delivered at Sibos is the one of Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS). Mr Ravi said that fintech has to solve two problems – cross-border payments and ESG data – and that it’s not only a task for institutions, but also for all fintech players – from startups to top companies.

MAS hub to cultivate ESG fintech ecosystem

Business Sustainable Finance

MAS hub to cultivate ESG fintech ecosystem
via The Asset

In fact, the MAS has developed an ESG Impact Hub, where ESG fintech startups can meet investors and financial institutions, to create an ESG-friendly environment.

India’s Sustainable Finance Panel Backs Voluntary Carbon Market

Business Regulation Sustainable Finance

India’s Sustainable Finance Panel Backs Voluntary Carbon Market
via Bloomberg

India is another country where ESG and sustainable finance are taken into high consideration: a panel of the IFSCA – International Financial Services Centres Authority – is developing a new framework for green fintech and a global climate alliance.







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