Sustainability – Insights, strategies and future events

Welcome to this month’s Sustainable Finance update. Discover our latest insights and upcoming events.

AI Hackathon winners pitching at Aotearoa AI Summit

We were stoked to see the AI Hackathon this year focus on solving real-world problems, from protecting water resources, fighting climate change, reducing pollution, managing land use, preserving biodiversity to improving how we experience our own environments.

A 48-hour hackathon took place across six locations, plus online, and we look forward to hearing the regional winners pitch their ideas at the Aotearoa AI Summit on 11 September in Auckland. 

Global ESG reporting standards

Sue Lloyd, Vice-Chair, ISSB

From left: Sue Lloyd, Vice-Chair, International Sustainability Standards Board; April McKenzie, CEO, External Reporting Board (XRB); Jo Kelly, CEO, Centre for Sustainable FInance; Rikki Stancich, Partner, Deloitte – Climate and Sustainability

Attendees of the recent Sustainable Finance working group meetup were fortunate to attend an event organised by the Centre for Sustainable Finance and the External Reporting Board (XRB), hosted by Deloitte.

We heard April Mackenzie, Chief Executive of the External Reporting Board (XRB), in conversation with Sue Lloyd, Vice-Chair of the International Sustainability Standards Board (ISSB), discussing Key Developments in Global ESG Reporting Standards: Insights from ISSB Vice-Chair.

It was great to hear their updates on consolidating major reporting frameworks and their insights on using digital tagging to enhance the accessibility and speed of scope three (and other) data.

Sue advised that more than 20 jurisdictions which have already decided to use or are taking steps to introduce ISSB Standards in their legal or regulatory frameworks account for:

• nearly 55% of global GDP
• more than 40% of global market capitalisation, and
• more than half of global greenhouse gas emissions.

Moving forward, the ISSB have three main workstreams: 

• implementation (through educational materials and capacity building)
• advocating adoption (with countries, institutional investors, and regulators), and 
• its two-year work plan (including research projects on nature and human capital). 

Accelerating cross-sector collaboration 

Collaboration is vital if we are to rise to the challenges of climate change and biodiversity loss. But, with trust as fragile as it is, we cannot take collaboration for granted, especially at the pace and scale required.

As a purpose-built system, Toha enables more coordination, orchestration and capability-sharing than would otherwise occur. This digital public infrastructure is part of the missing market infrastructure which connects frontline communities with investors in climate action and nature regeneration. 

Toha’s digital infrastructure has three pillars, including:

• a measurement platform which uses impact data technologies to track actions and outcomes
• a data-sharing network for the secure and sovereign exchange of impact data, and
• a payment system that enables participants to pay for and be paid for impact data.

Climate Commission update

The Climate Change Commission (CCC) recently released its 2024 progress report. This is the first in a series of reports assessing adaptation progress. These independent assessments will create snapshots and over time form a bigger picture of how Aotearoa New Zealand is tracking towards its climate change adaptation goals. Check out their summary of key findings and recommendations.

Emissions Reduction Plan 2 – submission response

Aligned with growing momentum of the Climate Tech Roadmap among Government bodies, we are collaborating with NZTech’s Sustainability Sub-board to develop a submission response advocating for technology’s pivotal role in cost-efficiently reducing emissions across multiple industry sectors.

Our particular focus for this submission is recommending support mechanisms via policy, regulation, and targeted financial instruments to mobilise private capital to accelerate climate change mitigation and adaptation activities that help to address the 15% gap between New Zealand achieving its Paris target. Achieving this target is vital in maintaining our recent trade agreement with Europe which is worth trillions of dollars to us.

Sustainable FinTech at the Startup Boot Camp this year

Last year, global investors from the Startup Boot Camp invested in Invercargill-based Kiwi startup PaySquad. PaySquad which enables groups of individuals to split the cost of gifts, trips, and events at checkout. Merchants like this because they can reach multiple customers with a single sale. Via the Startup Boot Camp, PaySquad spoke at Money 20/20 and is establishing relationships with banks in Southeast Asia.

The Startup Boot Camp have a Sustainable Fintech cohort this year and they’re looking for startups with innovative technology, products, services or disruptive business models that have solutions or solve problems at the intersection of finance and sustainability. 

If your startup is driven by the United Nation’s Sustainable Development Goals (SDGs) and the emerging trends around AI and machine-learning, find out more and apply now.

Upcoming events and conferences

Social impact fundraiser (29 August) 

Social Investment is currently at the top of many people’s agenda. Deloitte has partnered with The Graeme Dingle Foundation Wellington to host a dinner with Nicola Willis MP to share reflections, aspirations and approaches for social investment impact in Aotearoa and to celebrate the amazing mahi Graeme Dingle Foundation Wellington does in our city.

Find out more and get your tickets here.

Financial Services Council conference (3-5 September)

Head to the breakfast session on Wednesday to hear about New Zealand’s Climate Response: Disclose, Definitions and Data – this session brings together the key officials from the Financial Markets Authority (FMA) and the XRB to discuss their roles as standard setters and regulators and how they work together to support the allocation of capital towards activities that are consistent with a transition to a low emission, climate-resilient future. Recognising that disclosure is only one element of our response to climate change, they will also discuss a green or sustainable finance taxonomy and its role in enabling capital allocation for sustainability outcomes.

Find out more and get your tickets here.

Responsible Investment Association Australasia (RIAA) conference in New Zealand (19 September)

The RIAA Conference is about harnessing capital to deliver positive outcomes for people and the planet. It’s a place for making meaningful connections and discussing how these global issues impact sustainable finance and responsible investment in New Zealand.

Find out more and get your tickets: https://riaa.glueup.com/event/riaa-conference-aotearoa-nz-2024-89474/home.html 

Intersekt, Melbourne (18-19 September 2024)

Jason and his crew will attend the eighth edition of Intersekt, featuring themes on green fintech, ESG technologies, and sustainability. 

Hong Kong FinTech Week (28 October – 1 November 2024)

This event will include eight forums with the Green FinTech and Impact Forum, including sessions on carbon markets, tokenising green assets, and responsible AI.

Future Sustainability Forum, Dubai (4-5 December 2024)

The Dubai International Financial Center (DIFC) will host its second annual Future Sustainability Forum, building on the success of last year’s event and driving sustainability initiatives across industries.

Stay tuned for more updates, and join us in our collective effort to foster sustainable innovation in the sustainable fintech sector.

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