" class="no-js "lang="en-US"> New Energy Nexus Launches First-ever Climate Fintech
Thursday, March 28, 2024

New Energy Nexus Launches First-ever Climate Fintech Cards & Payments Challenge

New Energy Nexus today launched its inaugural Climate Fintech: Cards & Payments Challenge (C&P Challenge) to catalyze innovation across the financial sector to address climate change.

This innovation program brings together multinational financial institutions and fintech leaders to nurture cross-collaboration with startups that offer digital financial climate solutions, and is supported by, Barclays US Consumer Bank; Barclays US Consumer Bank ,Rise, created by BarclaysMastercardDoconomy; and Patch. The C&P Challenge brings together innovators using the latest technologies and partnership models that can help inform the way we spend, the things we buy, and how payments are handled – making everyday consumption more sustainable.

The initiative offers a $100,000 first-place prize to the winning startup, and the goal of the challenge is to discover and elevate climate innovation in the digital payments space, while advancing relevant proof-of-concept (POC) projects with established financial stakeholders.

“Our team is thrilled to launch the Cards and Payments Challenge with an incredible roster of strategic partners, together with supporting fintech startups and innovations, which aim to catalyze equitable decarbonization. We welcome applications from around the world,” said Danny Kennedy, CEO at New Energy Nexus 

As of today, fintech startups can apply to compete in the Challenge. During Climate Week NYC, participants will be hosted at the Rise Accelerator space in Manhattan where they will have access to world-class facilities and the opportunity to craft their product and build their network. Ten finalists will be selected, and these companies will receive additional mentorship in matchmaking over a three-week period, culminating in a demo day and prizes in November. In addition to cash prizes, participants will be given access to sponsor Application Programming Interfaces (APIs) allowing participants to have direct access to relevant data.

“Rise knows the importance of climate fintech startups to financial services, and we are excited to host the challenge in New York,” said Brian Luciani, Head of Rise New York. “It’s inspiring to work with our partners in support of fintech founders who are working towards a sustainable future and to keep Barclays at the forefront of fintechs working on climate innovations.”

The Challenge welcomes an applicant pool of diverse climate fintech solutions from across digital payments, digital wallets, credit assessment, rewards, benefits, insurance, and processing infrastructure – which are focused on climate action via decarbonization and better stewardship of the planet.

With the recent push for climate action by both consumers and banks, reconfiguring spending and banking to help decarbonize has never had greater traction or greater importance. This program offers an unprecedented opportunity to secure outside investment and proof of concepts in this critical and rapidly growing space.

Shortlisted companies will also be offered a “fast-tracked” acceptance to the selection phase for Mastercard Start Path, the company’s global startup engagement program, which gives startups access to Mastercard technology, expertise, and resources to rapidly scale their business.

“Mastercard is committed to nurturing innovation that will play a critical role in enabling a sustainable digital economy – whether that’s by using emerging technologies, creating new business models, or forging strategic partnerships with startups,” said Sue Kelsey, EVP Global Product, Sustainability & Financial Inclusion, Mastercard. “We are excited to partner on the new Climate Fintech ‘Cards & Payments Challenge’ – connecting with changemakers and startups who want to collaborate on tackling climate change by reimagining the future of commerce.”

This initiative comes on the heels of two recently published Climate Fintech Reports, one published by New Energy Nexus and the other published by Rise – both of which help to further define the space and highlight key success stories. These reports illustrate a vast ecosystem – in part to uncover as many digital financial solutions facilitating decarbonization investment, clean energy finance, and sustainable consumer habits as possible.

People In This Post

Companies In This Post

  1. PayPal Plans to Appoint Carmine Di Sibio to Board of Directors  Read more
  2. Yapily Named a Supplier on Crown Commercial Service’s Open Banking DPS Framework Read more
  3. allpay Appointed as Official Supplier on Crown Commercial Service’s Open Banking and Fund Administration & Disbursement Services Dynamic Purchasing Systems Read more
  4. Oliver Wyman Announces Mariya Rosberg as Americas Head of Banking and Financial Services Practice Read more
  5. Alchemy Pay Invests in UK Fintech LaPay and Secures API License as Part of Global Web3 Expansion Read more