A Cardiff-based tech firm has been selected for the UK Department for International Trade’s ESG Delegation to New York Climate Week.
Developer of AI-powered insights platforms Amplyfi has been chosen as part of a virtual trade delegation to explore how emerging technologies can be used to solve the environmental, social, and corporate governance (ESG) challenges faced by large financial services companies such as Goldman Sachs, Fidelity and JP Morgan.
The UK Department for International Trade (DIT), alongside the City of London Corporation, The Investment Association, and the Green Finance Institute announced that, after a highly competitive recruitment process, 11 UK-headquartered fintech companies specialising in ESG and sustainability are to join a virtual trade delegation to New York Climate Week starting September 20th.
Amplyfi, along with the other chosen fintechs, have developed groundbreaking new products and services that are already helping companies, investors, consumers, and regulators around the world overcome key challenges in ESG adoption. All of which will be showcased during the mission.
The trade mission comes at a critical moment as US financial services firms scramble to upgrade their capabilities, tools, and products to meet the growing demand for ESG conscious investment strategies. One in three dollars invested in the US, or $17 trillion in assets under management (AUM), already fall within an ESG or sustainability mandate, with the number only expected to rise.
Outside of investment, the financial services sector is also expected to play a key role in helping the world achieve net-zero, enabling climate action, and ensuring universal access to services, all of which can be aided by new technology.
Speaking of their inclusion on the mission, Dr Matthew Heim, Amplyfi’s head of business development in North America, said: “After being on a number of previous trade missions, including the Hong Kong Fintech trade mission and a UK Deep Tech trade mission to Singapore, we’ve built a strong relationship with the DIT. We’re proud to be part of this exciting group showcasing what’s good about British deep tech and finech startups.
“We’ve already had some indications that a couple of blue-chip companies would like to partner with us and learn how our technology can help them solve some of the ESG challenges they are facing. For us, there are several benefits to this. Of course, showcasing our offering to these companies is valuable, but it also allows us to better understand their use cases and pain points. We can then demonstrate how our team, our solutions, and our technology can help them move forward.”
To deliver this program, DIT has partnered with the City of London, the Investment Association, and the Green Finance Institute. In discussing the Mission, the Lord Mayor of the City of London, William Russell said: “The City of London Corporation is delighted to partner with DIT on this mission. The UK is a fintech powerhouse with UK fintechs raising a record-shattering $24.5bn of investment in the first 6 months of this year alone. “The City of London Corporation has long played an active role in helping to scale up the UK’s fintech sector by bringing together our existing strengths in financial services with burgeoning tech expertise across the country. As the world faces up to climate change it has never been more important to discuss the role that tech can play in sustainable development for financial institutions.”