Sustainable savings remain a niche area, particularly in the retail segment. Currently, this is not a profitable business model because of the increased cost to ensure auditability and transparency of funds. The bigger potential and proliferation is happening in the SME and corporate sector.
Goals and Objectives
Promote sustainable client behaviors and education.
Reduce the financing gap for green lending.
Promote an organization’s sustainability program.
Data analytics (e.g., actionable advice on how to reduce the carbon footprint), cash visibility tools/tracking, distributed ledger technology, ESG scoring, and client reporting
Use Case Summary
Green deposits are reserved to fund green financing initiatives (e.g., UN Sustainable Development Goals [SDG]). This mandates transparent selection, verification, assurance, and reporting requirements to ensure that funds are used as intended. Impact accounts make sustainability actionable by assessing the account holder’s carbon footprint and providing advice for further reductions.