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Google Cloud and MAS bid to catalyse climate fintech

Google Cloud and MAS bid to catalyse climate fintech

The Monetary Authority of Singapore (MAS) and Google Cloud have launched the Point Carbon Zero Programme to drive the innovation, incubation and scaling of climate fintech in Asia.

The programme will seek to use fintech to help the finance sector get access to accurate and granular climate-related data that can be used for more efficient deployment of capital towards green and sustainable projects.

To support the programme, Google Cloud will launch a world’s first open-source cloud platform dedicated to climate finance, facilitating the deployment of the technology and its adoption by the financial sector.

Fintechs participating in the programme will get mentorship and funding and access to over 200 public datasets spanning different sectors that are hosted by Google Cloud.

Participants will be invited to deploy their tools on the Google Cloud platform, which is anchored in Singapore and will help the fintechs collaborate with financial institutions to build, host, and scale climate solutions, using Google Cloud’s carbon neutral infrastructure and data management capabilities.

Sherie Ng, country director, Singapore and Malaysia, Google Cloud, says: "In collaboration with MAS, the Point Carbon Zero Programme aims to combine the collective powers of the industry with Google Cloud’s capabilities and innovation ecosystem to orchestrate impactful climate action.

"Our goal is to fuel an international movement - with data enabling and informing green financial flows, to help countries and companies make quantifiable and meaningful progress, and hasten their transition into a carbon-free future."

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