Innovative UN-Backed Digital Tool to Boost Green Finance

(3BL Media/Justmeans) – Digital technology is gradually turning the dream of financial inclusion in the developing world into a reality. User-friendly financial apps and mobile banking are empowering citizens in remote regions to participate in the financial economy and improve their lives.

The United Nations Environment Program (UNEP) has now partnered with China’s leading online and mobile financial services provider, Ant Financial, to roll out a unique program aimed at promoting green finance through innovative deployment of digital technologies.

This ground-breaking initiative, called the ‘Green Digital Finance Alliance,’ will support sustainable development through cutting-edge digital finance solutions. According to Erik Solheim, Executive Director of UNEP, this initiative will help align tomorrow’s financial technology-powered global financial system with sustainable development.

The critical need of the hour is to finance sustainable development, and this partnership between the UNEP and Ant Financial will advance the goal of making green finance an integral part of the daily life of every individual and business.

The initiative is committed to driving environmental risks, opportunities, incentives and choices into the decision-making process across the financing value chain. It is possible to achieve these through market innovation, collaborative action and increased public awareness of sustainable development and green lifestyle choices.

Eric Jing, CEO of Ant Financial, said that Ant Financial is a strong believer in green finance. Several of its products and services have been already contributing to sustainable development. Jing says that leveraging mobile Internet, cloud computing and big data can help to encourage hundreds of millions of users to participate in a green lifestyle.

Ant Financial has developed a green finance app, which provides users with a carbon account, in addition to their credit and saving accounts. Ant’s 450 million users in China are now able to benchmark their carbon footprint and to earn green energy credits for reducing their footprint.

Ant Financial has also integrated this function into a social media experience as well as created a complementary tree-planting carbon offset program. Over 72 million users are currently participating in the app.

Source and Image: UN.org