Press Release
FSC in collaboration with the GFIN invites firms to participate in Greenwashing TechSprint
2023-04-17
The Financial Supervisory Commission (FSC) will be among 13 international regulators taking part in the Global Financial Innovation Network (GFIN)’s first ever Greenwashing TechSprint. GFIN is a group of over 80 international organisations committed to supporting financial innovation in the interest of consumers and it is currently chaired by the Financial Conduct Authority. The FSC as a participating member is inviting firms from Taiwan to participate in this Greenwashing TechSprint.
The number of investment products marketed as ‘green’ or making wider sustainability claims is growing. Exaggerated, misleading or unsubstantiated claims about Environmental, Social and Governance (ESG) credentials damage confidence in these products and the FSC wants to ensure that consumers and firms can trust that products have the sustainability characteristics they claim to have. The FSC will therefore be participating in a virtual TechSprint, hosted on the FCA’s Digital Sandbox, to bring together international regulators, firms and innovators to address sustainable finance as a collective priority. The TechSprint will be to develop a tool or solution that can help regulators and the market effectively tackle the risks of greenwashing in financial services.
The FSC is inviting all Taiwan based firms who are interested in participating in the TechSprint to apply. The application window will open on 17th April 2023 and remain open for 4 weeks. Firms will get the opportunity to work with regulatory experts, a variety of stakeholders and professionals from across the globe. Additionally, to support the application process, the GFIN will be providing an information pack (please refer to: online.flippingbook.com/view/925129533/8/) for firms interested in participating on the TechSprint. Firms that are successful in their applications will proceed through to on-boarding which will take place on 1st and 2nd June. This will provide firms with training on the Digital Sandbox and an in-depth overview of the TechSprint process. The TechSprint will launch on 5th June and will run for 3 months, ending with a showcase day in September 2023.
Firms interested in applying to the GFIN Greenwashing TechSprint can review the list of participating regulators via the GFIN website (www.thegfin.com). Firms interested in contacting the FSC regarding any questions about the GFIN Greenwashing TechSprint can email fintechcenter@fsc.gov.tw.
Contact: Division Director of the Fintech Innovation Center
Telephone: (02)8968-0086
The number of investment products marketed as ‘green’ or making wider sustainability claims is growing. Exaggerated, misleading or unsubstantiated claims about Environmental, Social and Governance (ESG) credentials damage confidence in these products and the FSC wants to ensure that consumers and firms can trust that products have the sustainability characteristics they claim to have. The FSC will therefore be participating in a virtual TechSprint, hosted on the FCA’s Digital Sandbox, to bring together international regulators, firms and innovators to address sustainable finance as a collective priority. The TechSprint will be to develop a tool or solution that can help regulators and the market effectively tackle the risks of greenwashing in financial services.
The FSC is inviting all Taiwan based firms who are interested in participating in the TechSprint to apply. The application window will open on 17th April 2023 and remain open for 4 weeks. Firms will get the opportunity to work with regulatory experts, a variety of stakeholders and professionals from across the globe. Additionally, to support the application process, the GFIN will be providing an information pack (please refer to: online.flippingbook.com/view/925129533/8/) for firms interested in participating on the TechSprint. Firms that are successful in their applications will proceed through to on-boarding which will take place on 1st and 2nd June. This will provide firms with training on the Digital Sandbox and an in-depth overview of the TechSprint process. The TechSprint will launch on 5th June and will run for 3 months, ending with a showcase day in September 2023.
Firms interested in applying to the GFIN Greenwashing TechSprint can review the list of participating regulators via the GFIN website (www.thegfin.com). Firms interested in contacting the FSC regarding any questions about the GFIN Greenwashing TechSprint can email fintechcenter@fsc.gov.tw.
Contact: Division Director of the Fintech Innovation Center
Telephone: (02)8968-0086
- Visitor： 1096
- Update： 2023-04-14
