Kenya and Copenhagen connecting on sustainable Fintech
In Kenya the central bank used fintech to innovate government securities to convert sleeping savings into active investments. In China automated credit scoring of SMEs include scoring the greenness of the company. Examples the UN Task Force is touring the world to learn from to inform the Secretary General’s recommendations at the General Assembly on how to make fintech a tool align the financial system with the Sustainable Development Goals and the Paris Agreement.
The Paris Agreement and the Sustainable Development Goals both come with price tags. In the European Union alone, there is an annual investment gap amounting to almost EUR 180 billion to achieve its climate and energy targets. This requires a significant redirection of capital toward green finance.