Switzerland has introduced the Swiss GFN to enhance sustainable finance and foster the growth of the green digital finance ecosystem.
The newest nation to take concrete steps toward more sustainable finance is Switzerland. The new Swiss Green Fintech Network (GFN) was introduced at the three-day Point Zero Forum in Zurich with the intention of fostering the green digital finance ecosystem.
The Green Fintech Network is an alliance of leading academic centers, commercial service companies, well-known data providers, and green fintech startups. It intends to further Switzerland’s efforts to become a global leader in sustainable finance, in addition to strengthening the country’s green digital finance ecosystem.
The demands, difficulties, solutions, and prospects for a healthy green fintech ecosystem were covered in a focused roundtable discussion at the Point Zero Forum, which was inaugurated by Deputy State Secretary Stefan Flueckiger, the honorary president of GFN. The Swiss State Secretariat for International Finance (SIF) established a working group that eventually became the GFN. In regards to international financial, tax, and monetary issues, SIF supports Switzerland’s interests.
It has been very gratifying to observe already pre-launch the broad interest and support from important participants in the Swiss financial ecosystem, according to Gerrit Sindermann, president of GFN and deputy executive director of the Green Digital Finance Alliance (GDFA). Moreover we are dedicated to working with and enhancing already-existing projects, and we thoughtfully structured our own network as a multistakeholder initiative to provide comprehensive results for the benefit of the entire ecosystem.
Assembling a group that is forward-looking
The Network pledges to increase effective access to crucial sustainability data while providing significant backing and investment. Additionally, it forges connections within the domestic and international green fintech scene. It will serve as a platform and a dynamic partner in the ecosystem. Among its founding members are
- CLIMADA Technologies
- Correntics
- Inyova
- Open Forest Protocol
- Pelt8
- Sustainaccount
- EY
- Green Digital Finance Alliance (GDFA)
- MSCI
- PWC
- SIX
- Swisscom/e.foresight
- University of Zurich
- ZHAW as a key supporter
Each member of the group brings a great deal of skill, dedication, and forward-thinking vision to the group.
For sustainability to succeed, collaboration is essential
With his business Carbon Delta, Oliver Marchand, head of climate research at MSCI and a renowned pioneer in the green fintech industry, thinks that this effort has the potential to contribute to the establishment of a global center for green fintech. In particular, given that Carbon Delta has grown and eventually been successfully integrated into MSCI, and that many more businesses are doing the same. Fintechs may have the best chance of success through professional assistance and industry cooperation.
I have a strong belief in building integrated ecosystems, says Gwen Jettain, vice president of GFN, co-founder of Pelt8, and 2023 laureate of the Swiss Fintech Awards. If we don’t work together, there won’t be much of an influence in the sustainability environment. Moreover the Green Fintech Network actively formalizes these goals, fostering innovation with a continually positive impact on businesses, people, and the environment.
Including new eco-centric viewpoints
The Network has already established ongoing communication with important startup and financial ecosystem platforms in Switzerland. The Swiss Banking Association (SBA) and Swiss Sustainable Finance (SSF) are two examples. Additionally, it aspires to strengthen organizations by bringing a distinctive green fintech perspective. such as Sustainable Finance Geneva, Swiss Fintech, and Swiss Fintech Innovations.
Simone Thompson, co-founder of CLIMADA Technologies, a climate risk modeling startup, emphasizes the importance of raising awareness and promoting understanding of green fintechs in the Swiss market. With her experience as a founding member of the Green Fintech network and concurrently establishing her own company, Thompson firmly believes that Switzerland’s successful positioning in this domain hinges on driving the awareness and understanding of green fintechs.
According to Open Forest Protocol CEO and co-founder Frederic Fournier, “coming together to foster a collaboration towards impact is a must and necessary action, not only to address the pressing issues of our time but also to better position and align actors in this sector in Switzerland and beyond.”
“Green fintech is an emerging field with the majority of startups at an early stage,” finally says Thomas Puschmann, executive director and board member of the Stanford and University of Zurich Global Center for Sustainable Digital Finance. In the coming decades, it will result in significant growth potential in the industries of finance, energy, mobility, agriculture, and manufacturing and retail supply chains.
