Under the Italian G20 Presidency, Banca d'Italia and the Bank for International Settlements (BIS) Innovation Hub have launched the international G20 TechSprint 2021 competition to highlight the potential of new technologies to resolve some of the most pressing challenges in green and sustainable finance. It is designed to attract the international community of innovators, start-up creators, developers, data scientists and designers.
On 7 May at 11.45 (CEST) Banca d’Italia hosts an online event in which the G20 TechSprint 2021 is presented.
Speakers
Ignazio Visco, Governor of the Bank of Italy
Daniele Franco, Italy's Minister of Economy and Finance
Benoît Cœuré, Head of the BIS Innovation Hub
Andrew McCormack, Head of the BIS Innovation Hub Singapore Centre
Alessandra Perrazzelli, Deputy Governor, Bank of Italy
Moderator
Angela Barbaro, Head of Communications, Bank of Italy
The event will be streamed live on the Bank's YouTube channel.
Background
The world is facing significant challenges in its efforts to limit and reverse climate change and develop fair, inclusive and sustainable economies within single countries and across borders. Progress in addressing these challenges requires a collective effort, and government policies alone may be not enough. We must call upon the entrepreneurial ingenuity of citizens, scientists, and changemakers. Green and sustainable finance, together with social and governance dimensions (ESG), can contribute to allocating capital to projects that will reduce and reverse the environmental impact of air, land, and water pollution, climate change and loss of biodiversity. The search for innovative technological solutions in the field of finance is in line with the three key priorities, ‘People, Planet and Prosperity’ of Italy’s G20 Presidency.
Banca d’Italia and the BIS Innovation Hub, together with submissions from G20 finance ministries and central banks, have identified three high-priority operational problems:
- Data collection, verification, and sharing
- Analysis and assessment of transition and physical climate-related risks
- Better connecting projects and investors
The total prize money comes to €360,000: each of the three winning teams will receive a cash prize of €50,000, while the 21 shortlisted teams will receive a competition prize of €10,000 regardless of their team’s size.
The deadline for application is 31 May 2021. The winning teams will be announced in mid-October.
For more information, please visit www.techsprint2021.it
