The promise of a green economy may lead to the biggest fundamental shift across every sector and financial services play an important role to its success. Banks and insurers are doubling down on financing the transition to a green economy because the failure to reach sustainability goals will be detrimental to the industry, as well as the people, businesses, and industries who rely on them.
The growth in green infrastructure is against the backdrop of regulatory and consumer pressures which is leading to a growing Sustainable Fintech ecosystem. Major financial institutions are adopting new Fintech solutions to help bring environmental, social and governance (ESG) factors into business decisions. PwC expects that almost 60% of mutual fund assets will be considered ESG by 2025!