The UK’s Financial Conduct Authority has launched its Green FinTech Challenge. This is aimed at firms developing green financial technology solutions that need specific regulatory support to bring their proposition to market. The Challenge is designed to support innovation and growth in the Green Finance sector as part of the UK government’s Green GB Week which started on 15 October 2018.
Firms that require specific regulatory support are invited to apply. The Challenge will provide support to a selection of firms developing innovative products and services to assist in the UK’s transition to a greener economy. It is open to start-ups, incumbents and technology providers.
Examples of green solutions include (but are not limited to):
- supporting capital flows/investment towards green products and services
- driving efficiency in the issuance, distribution or adoption of green products
- managing climate-related risk posed to market participants
- environmental impact measurement; and
- delivering new green financial products.
Successful firms will benefit from a dedicated Innovate Adviser, authorisation support, live market testing in the sandbox, guidance and/or informal steers. The deadline for applications is 11 January 2019.