What was the project about? ​

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The goal of project CAREinFintech was to contribute to thesustainability agenda by closing the gaps between the existing ESG frameworksused by investors, EU taxonomy and the demands of the Fintech industry and overcoming individual Fintech startup’s lack of data capabilities on ESG reporting. ​

The CARE project was carried out together with Tekudo, a Fintech and ESG reporting solution Jointly the project consortium expanded current ESG reporting solutions for VC's and obtained:

1. A better understanding of the gaps between adopted ESG frameworks by VCs, LPs and startups in Fintech and EU taxonomy​
2. An overview of the data capabilities at a cluster level​
3. Specifications of the ESG reporting needs of the Fintech industry through a Fintech specific ESG checklist​

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In a new and ongoing project, called  IDEA, the researchers and involved companies will build on the results from the CARE project and:​

1. Generate a benchmark on the Copenhagen Fintech cluster members’ ESG performance that can be tracked throughout their growth phases
2. Generate a jointly designed ESG data infrastructure (incl. data repositories, organizational processes and governance requirements) for Fintech that supports evolving standards of ESG and financial data repository
3. Generate technical reports, data visualisation of cluster-level ESG data performance, and hands-on ESG reporting training sessions for startups​

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The ambitious long-term goal of the CARE and IDEA projects is to strengthen the competitive position of Danish Fintech industry in the global green investment landscape, by getting a head start in defining how to measure and work with sustainability for early stage fintech solutions and building specific ESG data capabilities. ​

For now a checklist, a compass and the first report is ready for download and use! ​

Host Institution(s):​

IT University of Copenhagen

Principal Investigator:​

Cancan Wang, Associate Professor, Centre for DigitalWelfare​

Partners:​

Tekudo, Rejoose, PreSeed Ventures and EIFO (Denmark's Export and Investment Fund) ​

Grant:​

400.000 DKK (Two projects)​

Project Period

1.1.22-31.12.23

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