The UK Department of International Trade (DIT) has sent a virtual sales delegation to the New York Climate Week, and this was called the UK ESG Fintech Mission. The Climate Week in New York has taken place from 20-30th September 2021. After a highly competitive recruitment process, 11 UK fintech companies specializing in ESG and sustainability were selected.
This UK ESG Fintech Mission was a partnership from the DIT and the City of London Corporation, the Investment Association, and the Green Finance Institute.
The selected fintech companies have developed innovative new products and services that are already helping companies, investors, and consumers. Regulators around the world are overcoming key challenges in adopting ESG criteria. DIT was showcasing these and other solutions during the mission.
Kunal Khatri, Her Majesty’s Acting Trade Commissioner for the US, said: “The UK has world-leading talent, technology, and businesses with an enormous amount to offer to the US market; we are excited to bring this delegation of cutting-edge technology firms to New York Climate Week.”
In addition to the investment sector, the finance industry is also expected to play a key role in helping the world achieve zero carbon by ensuring action to tackle climate change and ensuring universal access to services, which new technologies can help.
What is the UK Department for International Trade?
The Department for International Trade (DIT) is the arm of the British Government to help foreign companies find premises in the country and support exports. The Department for International Trade (DIT) has a responsibility to promote British trade worldwide and ensure that British businesses take advantage of the immense opportunities that have opened for them. With a global commercial reach spanning more than 100 countries, DIT is the government department that helps British companies export to growing international markets. The DIT supports and advises companies to start exporting and increase the number of goods and services they sell.
They are responsible for four priority outcomes:
- Ensure world-class free trade agreements and lower market access barriers to ensure that consumers and businesses benefit from them.
- Encourage economic growth and the green industrial revolution across the UK by attracting and retaining domestic investment.
- By promoting British exports, they support British companies to take full advantage of business opportunities, including those derived from free trade agreements.
- Maintain a rules-based international trading system and manage the new British trading system, including protecting British companies from unfair trade practices.
Which firms are part of the UK ESG Fintech Mission?
11 UK Fintech firms specializing in ESG and sustainability are part of the UK ESG Fintech Mission:
2RSquared
2RSquared provides a digital platform that enables investors to understand the value of ESG data and integration methods.
All Street Research
All Street is a financial technology company.
With the Sevva Platform, users have multiple options, e.g., setting up their desired portfolio, connecting to existing ESG data, and calculating internal ESG scores.
Amplyfi
AMPLYFI uses machine learning to automatically analyze hundreds of thousands of web, news, business, patent, and scientific documents every day. This system can help organizations to make a decision.
Arabesque Group
Arabesque is a financial technology firm offering sustainable investment, advisory, and data services through ESG data and AI capabilities.
Carbon Trade Exchange
Carbon Trade Exchange is the largest electronic exchange for buyers and sellers of voluntary carbon credits. CTX offers carbon offsets certified under the Gold Standard, the Verified Carbon Standard, and the United Nations CDM.
BITA Risk
BITA Risk delivers innovative software to high and ultra-high net worth private client wealth management firms. The company is part of the corfinancialTM group.
Net Purpose
Net Purpose is a data provider for responsible, sustainable, and impact investors. Their goal is to make impact measurement accessible to one million investment professionals by 2025.
OakNorth
OakNorth Bank is a UK bank for small and medium-sized companies that provides business and property loans. Their ON Credit Intelligence Suite will close a funding gap for medium-sized businesses and revolutionize commercial lending.
Solidatus
Solidatus is a data management solution for regulators and regulated businesses. It reveals the business value behind data and enables complex data relationships to be linked and visualized. Customers are, e.g., Citi and HSBC.
Tumelo
Tumelo is a financial technology company that focuses on impact. They work with investment and pension providers. Tumelo enables them to provide their customers with transparency about their own companies.
Urgentem
Urgentem is a transparent carbon emissions data and climate risk analysis provider for the financial sector. The company collects emissions data for the entire value chain.
Bottom Line
The UK ESG Fintech mission was an action for climate week 2021 in NYC. So it is exciting to see how the results influence the companies’ future and if this mission will continue in 2022.
