G20 TechSprint 2024 Seeks Solutions for Biodiversity, ESG Data, Sustainable Finance

G20 TechSprint 2024 Seeks Solutions for Biodiversity, ESG Data, Sustainable Finance

by April 29, 2024

The Bank for International Settlements (BIS) and the Central Bank of Brazil (BCB) have announced the launch of the fifth G20 TechSprint 2024 initiative.

This year’s competition aims to foster innovation in sustainable finance to support the Sustainable Development Goals (SDGs).

The G20 TechSprint is a global contest that encourages the development of sustainable technology solutions.

The initiative has seen success in its previous editions, focusing on regulatory and supervisory technology, green finance, central bank digital currencies, and cross-border payments.

The 2024 edition, under Brazil’s G20 presidency, will address three specific challenges: developing technology for biodiversity and nature preservation, enhancing the quality and reliability of Environmental, Social, and Governance (ESG) data, and creating open-source tools for financial decisions aligned with SDGs.

Participants from around the world can enter the competition through the Apix hackathon platform, which supports registration and prototype development.

Selected teams will have eight weeks to develop their solutions, which they will present to national authorities and experts for feedback.

An independent panel will select a winning solution for each challenge, with winners announced on 29 November 2024.

Each winning team will receive US$ 25,000, with all shortlisted projects receiving a stipend of approximately US$ 5,000. The deadline for proposal submissions is 31 May 2024.

Agustín Carstens

Agustín Carstens

“The journey towards sustainable finance requires collective action and relentless innovation.

 

We must continuously push the boundaries of what is possible, leveraging the full spectrum of technological advancements and collaborative partnerships at our disposal,”

said Agustín Carstens, General Manager of the BIS.

Roberto de Oliveira Campos Neto

Roberto de Oliveira Campos Neto

“Under Brazil’s G20 presidency, this fifth edition of the G20 TechSprint reinforces Brazil’s and the BCB´s commitment to the sustainability agenda, alongside with our goal to foster financial innovations that can positively transform our reality,”

said Roberto de Oliveira Campos Neto, Governor of Banco Central do Brasil.