BIS and Bank of Italy announce winners of G20 TechSprint

Press release  | 
25 October 2021
  • Winners of international hackathon-style competition highlight the potential of new technologies to resolve pressing challenges in green and sustainable finance.
  • The winning firms were Greenomy (Belgium), CRIF and R.E.D(Italy), and Home Infrastructure Technology (United Kingdom).
  • Awards recognized innovative projects on data collection and sharing; analysis of transition and physical climate-related risks; and better connecting projects and investors.

The Bank for International Settlements (BIS) and the Bank of Italy announced today the winners of the G20 TechSprint 2021 challenge during a live award ceremony in Milan.

The G20 TechSprint 2021, a hackathon-style competition, was launched in May by the Italian G20 Presidency to highlight the potential for new technologies to resolve some of the most pressing challenges in green and sustainable finance.

An independent panel of 21 experts selected the most innovative solutions in each of the three categories: 

  • Team Greenomy from Belgium won the 'Data collection, verification and sharing' category for their solution 'Greenomy,' which offers a platform to screen and report green financing projects. 
  • Italy's team CRIF and R.E.D. won the 'Analysis and assessment of transition and physical climate-related risks' category for their solution 'Climate Risk Analytics Suite,' which provides a digital platform for supporting institutions in monitoring and reporting climate risks consistent with international recommendations.
  • Team Home Infrastructure Technology, from the U.K., won the 'Better connecting projects and investors' category for their solution 'Add To My Mortgage' to help financing more sustainable and green energy solutions in residential home renovations.

The G20 TechSprint 2021 initiative engaged innovators worldwide to take up global and complex challenges in data collection, analysis of climate-related risks, and better connecting projects and investors. The three winning solutions show how technological innovations and finance can solve concrete problems creatively. The search for innovative technological solutions in the field of finance is in line with central banks' traditional mission to safeguard monetary and financial stability by ensuring that the financial system operates in the best interests of the people and the whole economy.

Alessandra Perrazzelli, Deputy Governor of the Bank of Italy

This TechSprint has been instrumental in scanning the technological universe and in helping us refine the BIS Innovation Hub's contribution to the green finance agenda. The G20 TechSprint series have already proven to be a practical global forum for policy makers and technologists to collaborate on key areas of relevance to the regulatory and central banking community. We look forward to continuing this close cooperation.

Benoît Cœuré, Head of the BIS Innovation Hub