CAREinFintech
As green transition becomes necessary for all industry, providing environmental, social and governance (ESG) data becomes increasingly important yet poses great challenges to investors, Fintech startups and clusters. These challenges hinge on startups’ lack of resources and capabilities to curate and report ESG data. The ‘CAREinFintech’ research project proposes such issue should be solved by efforts that come from the Fintech sector, and combine the interests between regulators, investors, Fintech cluster and start-up. The project is funded by Copenhagen Fintech with 200,000 DKK, it partners with Vækstfonden, Tekudo, and Syracuse University and its researchers affiliated with the Center for Digital Welfare are Cancan Wang (IT-University of Copenhagen), Carsten Østerlund (Syracuse University, School of Information Studies), and Yvonne Dittrich (ITU, Department of Computer Science).
The CAREinFintech co-develops a data-driven solution that helps Fintech sector to realise green transition in a collective manner. More specifically, the CAREinFintech researchers address Fintech ESG reporting challenges by developing a Collaborative Data Analytics (CDA) model that utilises a data-drive economy of scale approach associated with a cluster. The CDA method, tackles ESG reporting from three connected angles: data, organization, and governance. To achieve the project goal, we use a co-design approach through 1) interviews, and 2) trial implementations. We are working with start-ups and investment managers from LPs, VCs who are interested in ESG reporting for the Fintech sector.
The expected results from the project are: 1) A list of ESG Data Specifications suitable for Fintech Start-ups; 2) An ESG-specific organizational design for Fintech clusters to coordinate ESG reporting needs with start-ups and investors, and; 3) An ESG data governance setup ensuring continuous policy compliance and alignment between investors, Fintech start-ups and clusters.
To learn more about CAREinFintech, please reach out to Associate Professor Cancan Wang.