FCA to lead GFIN Greenwashing TechSprint

The Financial Conduct Authority, FCA, has issued a press statement to announce and inform about an upcoming, first ever Greenwashing TechSprint of the Global Financial Innovation Network (GFIN). The Greenwashing TechSprint will bring together regulators and firms from around the globe with the key objective to develop tools or solutions that help both regulators and companies to detect and prevent greenwashing, a practice commonly known as the sale or marketing of supposedly green, sustainable products and services that are in fact non-green and non-sustainable.
##### The key facts and dates about the upcoming TechSprint are briefly noted below:
1. The TechSprint will be launched on June 5, 2023 and will run for three months. It will be concluded by a „showcase“ on September 13 and September 14, 2023.
2. The sprint will be open to any firm operating in UK. From April 17, 2023, firms may apply to participate in the event by submitting their applications via this link through the FCA’s own Digital Sandbox. Applications will be accepted through May 21, 2023.
3. A first on-boarding event will take place on June 1 and June 2, 2023, during which firms will receive „training on the Digital Sandbox and an in-depth overview of the TechSprint process“.
4. On June 5, 2023, the event, which will only take place virtually, will be officially launched.
5. Participating firms are expected to share their knowledge and experience about greenwashing and to help create new ideas and / or tools in this context in a collaborative manner.
Additional information on the TechSprint is available on either of the following two websites or may be requested by contacting GFIN@fca.org.uk:
– https://www.fca.org.uk/firms/innovation/global-financial-innovation-network/gfin-greenwashing-techsprint
– https://www.thegfin.com/greenwashing.