SUSTAINABILITY
its importance . So , looking ahead , we ask if net zero in fintech can truly be achieved .
For Sharma , the key to achieving true net zero will depend on fintech ’ s ability to overcome a “ lack of universal methodology to standardise productlevel climate impacts ” something that will “ require consistent methods for measuring and reporting carbon impacts across the life cycle of products and services ”.
He concludes : “ This extends from scope one and two ( direct and indirect ) impacts to scope three impacts across the whole value chain . Often the largest product or service impacts are in scope three , requiring a much wider data set from across the value chain .
“ This can be hard to obtain given the fact that different stakeholders hold different data sets .
“ Several other factors including regulatory landscape , consumer demands , advances in technology and renewable energy sources , commitment and collaboration between fintechs , financial institutions , governments and other stakeholders will influence the timeline and feasibility of reaching net zero emissions .”
This is true too for Round , who notes : “ Fintechs and financial institutions may well achieve net zero for the purposes of their reporting , but it is also the impact they can make in the wider world that is key to making a meaningful difference .
“ We need to change the world with every single transaction - one transaction at a time .”
And , for Vaghjiani : “ Fintechs and banks need an example of someone truly working to net zero with clear plans showing the benefits and quickly everyone will follow suit . All it takes is one .” fintechmagazine . com 131