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Behind the scenes, RegTechNZ has been busy working on some interesting projects to bring you later this year. Until then, join our webinar on Friday 28 April, Implementing your Compliance Programme, brought to you by Karty Mayne of Rosewell Consulting and our own Tim Larkin of Dacreed and Teams Plus. More information and registration can be found here.
However, this month we have another of our Mosaic FSI partners, Emilie McCallum challenging us to get involved in collaborations to solve greenwashing:
“With the increasing demand for ESG-related products and services around the world, risk of greenwashing has never been so high.
I am therefore very enthusiastic to see regulators around the world, coming together through the intermediary of the Global Financial Innovation Network (GFIN), a cross-border regulatory sandbox for firms testing innovative financial products, services or business models across multiple jurisdictions, to initiate the first ever ‘Greenwashing TechSprint.’
The aim of this TechSprint would be to ‘develop a tool or solution that could help regulators or the market more effectively tackle or mitigate the risks of greenwashing in financial services.’
So far, 13 international regulators have put their hands up to attend this event, hosted on the United Kingdom’s FCA’s Digital Sandbox.
Should New Zealand be participating in such activities? How do we make sure our Kiwi financial services firms are not potentially overstating their sustainability credentials to attract and retain customers and investors. The benefit of engagement might help to ensure that consumers have access to green or sustainable financial products and services that meet their needs. With just a little stretch of imagination, it would also link the XRD and the CoFI initiative together.
There is a lot going on outside of our borders and there is nothing to lose by leaning in, the beauty of collaboration is that you will be welcomed.”If you would like to know more about RegTechNZ, please follow us here.