Driving sustainability through innovation.
We are shortlisted in G20 TechSprint 2021!
Driving sustainability through innovation
We are shortlisted in G20 TechSprint 2021!
Shaping sustainable finance through technology
BR-AG is shortlisted in the G20 TechSprint for the second consecutive year. Organised by Banca d’Italia and the BIS Innovation Hub, this year’s green and sustainable finance theme plays into the priorities laid out in Italy’s 2021 G20 presidency term, such as a commitment to battling climate change and achieving Sustainable Development Goals.
With the topic of sustainability almost a household subject of conversation, 89 teams from more than 25 countries submitted 99 solutions for this year’s TechSprint, out of which 21 teams are on the shortlist.
Tapping into the problem of data inconsistency in sustainability reporting, the BR-AG team approached the chosen problem statement intending to provide a technology link to collaboratively develop and manage sustainability data requirements and facilitate the design of risk analysis scenarios by developing the concept of Project Sunrise: ATOME for Environmental Data.
Combating climate risk through data
The significance of sustainability data is a talking point across the financial globe, with not only European supervisors recognising the importance of consistently reported ESG data. At present, both markets and regulators struggle with a lack of standardised datasets and imprecise disclosure requirements, hampering unified sustainability supervision.
With the acceleration of developments at both the regulatory and reporting levels, sustainability and climate-related disclosures are set to be discussed far and wide not only this year but in 2022 as well. As more companies focus on allocating capital to economic projects that facilitate environmental protection goals, the financial sector is “going green”.
With the potential of technological solutions powering the capturing and structuring of climate-related data and a defined rulebook for data requirements, sustainability disclosures are well on their way to become an integral part of financial reporting.
“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.”
Alessandra Perrazzelli, Deputy Governor of the Bank of Italy
Read more in the G20 TechSprint press release:
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