The advisory board has 12 senior executives from Chubb, DBS, HSBC, Goldman Sachs, Fidelity International, KPMG in Singapore, the National University of Singapore, OCBC, the Singapore FinTech Association, Standard Chartered Bank, UOB, and XL Ventures
Google Cloud forms an advisory board to guide the Point Carbon Zero Program. (Credit: Coolcaesar at English Wikipedia)
Google Cloud has announced the formation of an advisory board to guide the ecosystem engagement strategy and initiatives of the Point Carbon Zero Program, which was jointly launched in July 2022 with the Monetary Authority of Singapore (MAS).
The advisory board has 12 senior executives from Chubb, DBS, HSBC, Goldman Sachs, Fidelity International, KPMG in Singapore, OCBC, the National University of Singapore, the Singapore FinTech Association, Standard Chartered Bank, XL Ventures, and UOB.
The Point Carbon Zero Program was launched with the intention of providing financial and growth opportunities for climate fintech companies and start-ups in Asia.
According to Google Cloud, the advisory board will take an integrative approach to facilitate reliable and efficient flows of environmental, social, and governance (ESG) data, and design data-driven solutions as well as financial instruments to advance the decarbonisation agendas of organisations.
The board is expected to serve as the initiative’s executive mentors, sponsors, and judges.
Apart from setting up the board, Google Cloud has launched the inaugural Climate Finance Accelerator with MAS and KPMG Singapore to drive capital towards firms with climate fintech solutions that are market-ready.
MAS Point Carbon Zero Program special advisor Darian McBain said: “Collaboration and partnerships are critical, whether it’s getting granular ESG data to understand problems that are unique to this region, or addressing problem statements on where and how sustainable finance can incentivise change.
“It’s encouraging to see ecosystem players coming together to combine capabilities, resources, and an innovative mindset to tackle the transition problem. While we still have real challenges ahead of us, multistakeholder platforms like the Point Carbon Zero Program are now pushing us and Asia in the right direction for a more sustainable future.”
Google Cloud has invited climate fintech companies to submit their innovative solutions for addressing problem statements. Eligible applicants are offered to tap cloud computing credits of up to $100,000, each year for two years, under the Google for Startups Cloud Program.
Besides, Google Cloud said that it has onboarded various high-growth technology companies to its platform to develop their digital offerings using carbon neutral cloud services and infrastructure.