The Central Bank of the UAE (CBUAE) teams up with the Bank for International Settlements (BIS) and the COP28 Presidency to launch the COP28 UAE TechSprint

18/09/2023 Finance and investment | Central Bank of the UAE

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The Central Bank of the UAE (CBUAE), the Bank for International Settlements (BIS), the Emirates Institute of Finance (EIF) and the COP28 Presidency have launched the COP28 UAE TechSprint, a global initiative aimed at promoting innovation in scaling sustainable finance and combating climate change. The launch of the COP28 UAE TechSprint comes ahead of the UAE's hosting of COP28 later this year.

The initiative aims to encourage the participation of financial innovators and developers from global private and public sector entities in fast-tracking innovative technology solutions to address challenges in green and sustainable finance through technologies such as Artificial Intelligence (AI), Blockchain, Internet-of-Things (IoT), and sensor technologies across three problem statements:

·       AI solutions for sustainable finance reporting, verification, and disclosure in the financial services industry.

·       Blockchain solutions for auditing and enhancing transparency, traceability, and accountability in sustainable finance.

·       IoT and sensor technology solutions for sustainable finance to ensure informed assessments of impact or risk.  

Participation details

The COP28 UAE TechSprint is open to technology and financial innovators and developers from around the world. To participate, please register at link and submit technology proposals to one or more problem statements by [Friday, 6 October 2023].

Shortlisted participants for each problem statement will be invited to further develop their solutions and will be eligible for a stipend of [AED 45,000 (approximately USD 12,000)].

A winner for each problem statement will be selected by an independent panel of experts. The winners will be announced at COP28 UAE in December 2023, with each winner eligible for an award of [AED 220,000 (approximately USD 60,000)].

For more information about the initiative and the participation, please click here

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