The Bank for International Settlements (BIS) Innovation Hub and the Bank of Italy, under the Italian G20 Presidency, announced today the shortlisted finalists of the G20 green and sustainable finance challenge. We are very happy to be one of the shortlisted Finalist of the G20 TechSprint competition candidates of this year's international competition by proposing to develop a Global Fire Index for TCFD physical risk assessments.
The G20 Techsprint on Sustainable Finance in 2021 represents a significant initiative aimed at fostering innovation and collaboration in the intersection of technology and sustainable finance. As part of the broader G20 framework, this Techsprint soughts to address pressing challenges within the financial sector by harnessing the power of technology to advance sustainability goals.
Sustainable finance revolves around incorporating environmental, social, and governance (ESG) considerations into financial decision-making processes. In this context, the G20 Techsprint brings together a diverse group of participants, including developers, technologists, and financial experts. The collaborative nature of the event encourages the sharing of expertise and perspectives to develop innovative technological solutions that promote sustainability within the financial industry.
The primary objective of the Techsprint is to generate tangible outcomes in the form of tools, platforms, or applications that contribute to sustainable finance objectives. These may include initiatives to support environmentally friendly investments, enhance social responsibility practices, and improve governance within financial institutions. Participants engage in intensive problem-solving sessions, developing prototypes or proof-of-concept solutions over a short period.
The BIS Innovation Hub and the Bank of Italy published last May three high-priority operational problems and invited the international community of innovators, entrepreneurs, developers, data scientists and designers to develop innovative technological solutions. We applied to Problem Statement 2: Analysis and Assessment of Transition and Physical Climate-related Risks by proposing to develop a Global Fire Index for TCFD physical risk assessments based on our recent climate simulations (CMIP6) from the upcoming IPCC 6th assessment report.
Now the 21 shortlisted Finalist of the G20 TechSprint competition (7 for each of the 3 problem statements), out of 99 submissions from teams worldwide, have until September 1st to submit their prototype for the final prize.
Final results in October !
Press release: https://www.bis.org/press/p210625.htm
G20 TechSprint: https://www.techsprint2021.it/
Check our Ready-to-use climate projections on our product page.
Powered by Copernicus Climate Change Service
