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MAS and Google Cloud to launch Point Carbon Zero Programme

Tuesday 26 July 2022 12:58 CET | News

Singapore's central bank and Google's cloud computing arm have teamed up to drive the growth of technology-enabled climate finance solutions in Asia over the next three years.

The Point Carbon Zero Programme, launched by the Monetary Authority of Singapore (MAS) and Google Cloud, aims to improve access to climate-related data for the financial sector to better invest in sustainable projects.

To that end, Google Cloud will launch a dedicated open-source cloud platform to facilitate the adoption and deployment of climate fintech solutions.

Under the programme, fintech firms will be invited to submit technological solutions to address a range of climate finance problem statements, with 100 to be shortlisted for further development.

These will then be tested with a pool of 1,000 financial institutions on their ability to facilitate capital flows towards green and sustainable projects in Asia.

The programme also aims to help 10,000 multinational corporations and small and medium-sized enterprises work towards achieving sustainability targets.

Point Carbon Zero Programme is a collaboration under MAS’ Project Greenprint initiative, which was launched in December 2020 to promote a green finance ecosystem by harnessing innovation and technology.

Under Point Carbon Zero, Google Cloud's dedicated platform will operate out of Singapore and enable fintechs to work with financial institutions to build, host, and scale their climate solutions.


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Keywords: partnership, product launch, ESG, banks, fintech
Categories: Banking & Fintech
Companies: Google
Countries: Asia
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Banking & Fintech

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