Hong Kong and Singapore lead green fintech development among the Five Economies in APEC
HONG KONG and SINGAPORE, Oct. 28, 2022 /PRNewswire/ -- Today, GoImpact, an ESG and Sustainability education firm, together with The Chinese University of Hong Kong's Business School ("CUHK Business School") released the findings from their working paper, Exploring the Green Fintech Ecosystem in Asia: Insights from Five Economies in APEC. This study finds that government support plays a vital and essential role in facilitating green fintech development, while talent shortage is a common concern in the five economies in the region.
- Derived from three elements environment, finance, and technology the industry report defines green fintech as financial activities that utilize green technologies that bring better environmental outcomes.
- Industry experts from five APEC economies, namely Hong Kong SAR, China ("Hong Kong"), Indonesia, the Republic of Korea ("Korea"), Singapore and Thailand, have urged policymakers to establish a conducive environment for green fintech to flourish.
- Key findings from the study include the following:
Green fintech startups in Asia have already provided many different types of green fintech, such as green digital payment, green digital investment solutions, digital green analytics, green crowdfunding, green risk analysis, green digital lending, green digital asset solutions, and green regtech. - It will raise awareness, push the demand for green finance, and cultivate the talent needed for green FinTech Development in Asia.