Switzerland launches Green Fintech Network

By Rhys Thomas
New initiative backed by the Swiss Federal Department of Finance will promote and support sustainable fintechs...

Switzerland has setup a new initiative to promote the interests of sustainable finance and support green fintechs.

The Green Fintech Network was launched earlier this week by the Swiss State Secretariat for International Finance (SIF). 

Together with key industry players, including green fintech firms, university science researchers and law consultancies, members of the new network will collaborate to identify where the nation can make improvements to best support the growth of green fintech. 

“The Network should then submit concrete proposals to both the government and the private sector. Finally, the Network should assist in the implementation of measures,” the SIF said in a statement.  

The outcome of the network’s early work will be published in a report next spring. 

Fintech goes green

Switzerland’s interest in nurturing sustainable fintech follows a broader trend across the industry. In October, US payments and ecommerce fintech Stripe took further steps in its fight against climate change, launching Stripe Climate. The new service gives businesses the opportunity to channel revenue towards projects that remove carbon dioxide from the atmosphere. 

Stripe customers had made clear they wanted to play a role in climate change “but don’t because figuring out what to do can be time-intensive and complicated,” says Nan Ransohoff, Head of Climate at Stripe.

Stripe Climate aims to make the process simple through a fee-free service for businesses to take their first steps. 100% of funds will go to a group of four specialist companies, from which Stripe purchased $1m worth of carbon removal this summer. The initiative is currently only open for US businesses. 

Startups in the green fintech space are also flourishing. TreeCard received 10,000 pre-signups just hours after going live with its wooden debit card. Account holders who use the MasterCard-backed card and app for everyday payments will contribute to reforestation efforts around the worl

Share

Featured Articles

Why customer loyalty platforms are more like typewriters

Loyalty programmes are like typewriters, Comarch says. You have the tools to create something great, but you still have to put in the hard yards yourself.

Women in Fintech: Annelyse Fournier, COO of PDX Global

We caught up with Annelyse Fournier, the COO of PDX Global to find out why she entered fintech, what inspires her, and how the industry has changed

Women in Fintech: Sasha Pilch of Fin Capital talks assets

Sahsa Pilch , Principal at Fin Capital, is an expert in asset management. She discusses women in fintech, the economic the downturn and emerging trends

Struggling to scale? Fintech decacorns and the downturn

Banking

Fintech Trailblazer Nikolay Storonsky, Revolut’s dynamic CEO

Banking

How to take your subscription business to the next level

Digital Payments