The Green Digital Finance Alliance (GDFA) and the Swiss Green Fintech network launched the world’s first green financial technology (fintech) taxonomy recently. The taxonomy is accompanied by a report that sets an initial classification of green fintech, the databases leveraged by each category, and examples of services.
According to the report, the taxonomy aims to enable a standardized approach for policymakers, investors, and market actors to assess green fintech, and develop and stimulate the green fintech market.
The taxonomy classifies green fintech into seven categories and maps the main databases leveraged by each category of green fintech. This mapping provides an overview of which datasets could drive a green fintech innovation. Furthermore, structuring the Internet of Things and data in infrastructures has the potential to accelerate green fintech innovations across the taxonomy categories.
According to the GDFA, the report is an interim publication and it will require stress tests with green fintech and policymakers through the early part of 2022. The final report will be finalized in the first quarter of the next year.
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