The FCA has announced the launch of its Green FinTech Challenge to support innovation and growth in the Green Finance sector and promote green solutions. The FCA encourages firms that require the regulatory support, and meet certain criteria, to apply to join the Green FinTech challenge cohort. The deadline for applications is 11 January 2019. It is open to start-ups, incumbents and technology providers. Examples of green solutions include (but are not limited to):
- supporting capital flows/investment towards green products and services;
- driving efficiency in the issuance, distribution or adoption of green products;
- managing climate-related risk posed to market participants;
- environmental impact measurement; and
- delivering new green financial products.
Successful applicants will benefit from a dedicated Innovate Adviser, authorisation support, live market testing in the regulatory sandbox, guidance and informal steers from the FCA.