NEW YORK – The UK Department for International Trade (DIT), alongside the City of London Corporation, the Investment Association, and the Green Finance Institute, announced today that after a highly competitive recruitment process, 11 UK-headquartered FinTech companies specializing in ESG and sustainability were chosen to join a virtual trade delegation to New York Climate Week starting September 20th.
This group of fintechs, which includes 2RSquared, All Street Research, Amplify, Arabesque Group, Carbon Trade Exchange, Cor Financial, Net Purpose, OakNorth Bank, Solidatus, Tumelo, and Urgentem, have developed groundbreaking new products and services that are already helping companies, investors, consumers, and regulators around the world overcome key challenges in ESG adoption. DIT looks forward to showcasing these solutions, and more, during the mission.
This trade mission comes at a critical moment as US financial services firms scramble to upgrade their capabilities, tools, and products to meet the growing demand for environmental, social, and governance conscious investment strategies. One in 3 dollars invested in the US, or $17 trillion in AUM, already falls within an ESG or sustainability mandate and that number will only continue to rise. Outside of investment, the financial industry is also expected to play a key role in helping the world achieve net-zero, enabling climate action, and ensuring universal access to services, all of which can be aided by new technology.
Kunal Khatri, Her Majesty’s Acting Trade Commissioner for the US said:
“The UK has been at the heart of global financial services innovation for decades, and as a leader in climate action, UK companies are poised to play an even greater part in driving ESG and sustainability across the financial industry. As we approach COP26, fintech will have a crucial role to play in achieving net-zero by helping to spur green innovation and expertise into sustainable investments, while providing companies with better tools to measure and mitigate their climate impact and consumers the information they need to make more informed decisions. The UK has a lot to offer the US in this space and we are excited to bring this delegation of cutting-edge technology firms to New York Climate Week.”
In discussing the Mission, the Lord Mayor of the City of London, William Russell said:
“The City of London Corporation is delighted to partner with DIT on this mission. The UK is a fintech powerhouse with UK fintechs raising a record-shattering $24.5bn of investment in the first 6 months of this year alone. The City of London Corporation has long played an active role in helping to scale up the UK’s fintech sector by bringing together the UK’s existing strengths in financial services with the UK’s burgeoning tech expertise. As the world faces up climate change it has never been more important to discuss the role that tech can play in sustainable development for financial institutions.”
US firms interested in learning more about the mission, the participating fintechs, and how to get involved are encouraged to contact firstname.lastname@example.org.