Friday, July 12, 2024

How sustainable digital finance can unlock a low-carbon economy

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Many governments and corporations have made bold commitments to tackle climate change, labelling the next 10 years as the “decade to deliver”. Technology lies at the heart of those attempts to prevent, or even reverse, global warming. Intelligent products, new applications of existing technology or even entirely new business models are emerging to increase energy efficiency, reduce overall energy consumption or expand the use of renewable energies.

More than 1,200 so-called “climate tech” start-ups have already been identified. Switzerland, the Global Innovation Index leader since 2011, is one country providing fertile ground for ventures tackling climate change. Together with more established players, these start-ups will be crucial in unlocking major investment opportunities for corporations and investors.

Channelling these investments is a critical challenge for the global financial system. Investors representing more than $45 trillion in assets under management have already agreed to drive climate change action across their portfolios. Sustainable finance has, therefore, become an integral part of how many financial services firms operate. We strongly believe that sustainable finance, combined with technological innovation and digitalization in banking, will be instrumental to sustainable innovation and growth and the transition to a less carbon-intensive economy. Read more…

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