The BIS Innovation Hub and the Bank of Italy are launching a virtual hackathon-style competition to find new technological ways to tackle challenges in green and sustainable finance.
The latest TechSprint event, which comes as Italy takes on the G20 Presidency, is inviting private firms to develop green tech solutions that address three operational problems:
- Data collection, verification and sharing
- Analysis and assessment of transition and physical climate-related risks
- Better connecting projects and investors
Firms have until 31 May to apply, with a shortlist announced on 14 June and a workshop arranged for August to showcase prototypes. Cash prizes will be awarded to winners in October.
Benoît Cœuré, head, BIS Innovation Hub, says: "The G20 TechSprint 2021 has clear and measurable goals to fire the imagination of people worldwide, inspiring everyone into action to develop practical solutions to address issues in the field of sustainable finance."
The drive for green finance is gathering momentum. Today, the Monetary Authority of Singapore announced that the sixth edition of its Global FinTech Hackcelerator will be on the theme “Harnessing Technology to Power Green Finance”.