Fintech refers to technology that aims to enhance and automate the supply and usage of financial services for customers. Green Fintech, on the other hand, is a relatively recent notion that often denotes organizations or programs that have a beneficial influence on the environment, such as reducing emissions or increasing biodiversity. They are combining digital technology like artificial intelligence (AI), effective data analytics, Internet of Things (IoT), and blockchain technology with agile as well as creative business models designed to support a reduction in greenhouse gas emissions & negative environmental impacts.
Fintech businesses that are actively creating this fundamental change to sustainability, from planting trees or offering fossil-fuel-free investing alternatives, are part of the 'Green Fintech' ecosystem. Fintechs are helping to broaden the spectrum of financial services available, from giving services to the enormous number of unbanked individuals to linking complex financial markets and building green bond platforms.
1. Supply networks may become more transparent. Maersk, a worldwide shipping behemoth, and IBM announced a partnership in 2018 to "offer more secure and efficient solutions for conducting global commerce utilizing blockchain technology."
2. Financial inclusion has the potential to transform people's lives. A person's history of economic contacts in the global economy is defined by digital or electronic credentials. Green Fintech can help farmers gain a reputation as safe and healthy food producers. GMO-free, for example.
3. Property rights management. Land titles have been placed on blockchain goods in countries such as Ghana, Honduras, and Rwanda. Transferring intellectual property rights is made easier and more secure as a result of this.
To expedite the switch to a net-zero economy, CarbonChain develops technology that allows data-driven climate action across the world's most polluting supply chains.
We must shift to a net-zero economy to avoid the worst effects of climate change.
To get there, the commercial and financial sectors will require reliable, comprehensive, and usable greenhouse gas emissions datasets so that they can clearly recognize their most serious effects and risks and take meaningful action.
CarbonChain fills this void by providing enterprises and financial companies with the tools and data they need to minimize their emissions and create more environmentally friendly supply chains.
CarbonChain's AI-powered solution automates supply chain emissions tracking for corporations, traders, financiers, and freight companies in the highest-emitting industries (metals & mining, oil and natural gas, and agricultural, which account for half of the global GHG emissions).
The platform provides unmatched insight about carbon risks and possibilities in near real-time, thanks to precise, detailed, asset-level data spanning the value chain from end to end. This enables the most climate-sensitive sectors (or those who fund them) to address risks, reduce emissions, and develop resilience while speeding up the transformation to a net-zero business.
Traditional banks invest their clients' money, whether it is in either debit or savings or even in mutual funds. They invest heavily in coal power, armaments, and other businesses that are harmful to the environment and humanity. Big banks have invested over 2,700 billion us dollars in fossil fuels since the Paris Agreement was signed in 2016.
Tomorrow isn't like the rest of the banks. They are transparent, digital, and long-term, and rather than focusing just on profit, they are dedicated to long-term sustainability and social equality. Tomorrow is a social enterprise founded in 2018 by Inas Nureldin, Jakob Berndt, & Michael Schweikart with the goal of using money as a force for good.
Tomorrow Zero is a premium account that allows you to fund particular climate change projects like biogas plants in Vietnam, safe water for drinking in Uganda, and smallholder development in Peru. Furthermore, through green bonds issued by Förderbank Nordrhein-Westfalen in Germany, the firm supports the United Nations Sustainable Development Goals (SDGs).
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