The Monetary Authority of Singapore (MAS) and Google Cloud have introduced the Point Carbon Zero Programme aimed at fostering innovation, incubation, and scaling of climate fintech in Asia.
This initiative seeks to leverage fintech to provide the finance sector with accurate and detailed climate-related data, enabling more efficient capital deployment for green and sustainable projects.
As part of the programme, Google Cloud will launch the world’s first open-source cloud platform specifically for climate finance. This platform will facilitate technological deployment and assist financial sectors in adopting innovative solutions.
Fintech companies involved in the programme will benefit from mentorship, funding, and access to over 200 public datasets across various sectors hosted by Google Cloud. Participants will have the opportunity to deploy their tools on the Google Cloud platform, which is based in Singapore. This will enable fintechs to collaborate with financial institutions to build, host, and scale climate solutions utilizing Google Cloud’s carbon-neutral infrastructure and data management capabilities.
Sherie Ng, Country Director for Singapore and Malaysia at Google Cloud, stated: “In collaboration with MAS, the Point Carbon Zero Programme aims to combine the collective powers of the industry with Google Cloud’s capabilities and innovation ecosystem to orchestrate impactful climate action. Our goal is to fuel an international movement—using data to inform and enable green financial flows, helping countries and companies make measurable and significant progress in their transition to a carbon-free future.”