The Bank for International Settlements (BIS) and the Central Bank of Brazil are emphasizing sustainable finance in the upcoming G20 TechSprint hackathon competition.
This fifth edition of the G20 TechSprint will center around three key challenges related to green finance, aimed at advancing sustainable development goals (SDGs) and promoting inclusivity:
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Nature-based Solutions: Innovative technology solutions designed to attract and incentivize sustainable investments that focus on preserving biodiversity and nature.
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Environmental, Social, and Governance (ESG): Development of new technologies to enhance the quality, reliability, and detail of ESG data for large corporations, small and medium-sized enterprises (SMEs), investors, and regulatory bodies.
- Sustainable Development Goals (SDGs): Open-source solutions that facilitate financial decision-making and capital allocation in line with SDG objectives, such as biodiversity preservation, climate action, clean energy initiatives, financial literacy, and poverty reduction.
Participants have until the end of May to submit their applications. Shortlisted teams will then have eight weeks to refine their solutions. A panel of experts will select a winner for each challenge, with each recipient awarded $25,000.
Agustín Carstens, General Manager of the BIS, stated, “The path to sustainable finance demands collaborative efforts and ongoing innovation. We must continually explore new possibilities, harnessing the full range of technological advancements and partnerships available to us.”