Ashurst FinTech Legal Labs Partners with Hitachi Vantara to Accelerate A Greener Future
05 October 2020
The 2020 FinTech Legal Labs and its new sustainability stream will arm fintech and greentech start-ups with data-driven insights into sustainable technology initiatives as well as practical advice and guidance from financial institutions, legal practitioners and technology specialists to help them better understand and achieve their sustainable digital transformation goals.
Corporations and financial institutions are facing significant Environmental, Social and Governance (ESG) challenges that pose risks to their potential growth. According to McKinsey Research, “A strong ESG proposition can enhance investment returns by allocating capital to more promising and more sustainable opportunities. It can also help companies avoid stranded investments that may not pay off because of longer-term environmental issues.”
In order to justify investments into sustainability initiatives, global financial systems require data availability and data transparency to hold organisations accountable on the effectiveness of the projects. Through the partnership, FinTech Legal Labs and Hitachi Vantara are enabling much needed growth and investment in fintech start-ups, ensuring they have the right legal, technology and governance infrastructure in place.
Abradat Kamalpour, partner and architect of FinTech Legal Labs, said:
"Hitachi Vantara brings unique experience as a global technology partner in financial services and manufacturing. Strategic partnerships and collaborations like this can be powerful catalysts for change so this is an exciting move for both organisations. The success of our inaugural FinTech Legal Labs and our first cohort was impressive and the new sustainability feature this year is set to make it an even more timely, relevant and critical platform."
The inaugural FinTech Legal Labs programme took place in 2019, with 36 businesses selected from over 100 applicants. This year's programme will run over three days in November and cover key areas of law, giving participants access to the firm's financial institution and investor clients and contacts. This will also provide leading financial institutions and investors access to the programme’s roster of fintech start-ups.
Sara de la Torre, Director Financial Services – Digital Solutions, Hitachi Vantara, commented:
“Hitachi Vantara has a long-standing commitment to powering good and is honoured to collaborate with Ashurst as a partner on the FinTech Legal Labs programme to help support financial services businesses who share that same goal. As a global digital transformation partner, we look forward to working with Ashurst’s FinTech Labs to help align the financial system with sustainable development.“
Anna-Marie Slot, Ashurst's Global Environmental, Social and Governance partner, added:
"There is an intricate nexus between data transparency, finance and sustainable development. To be able to harness the expertise of both Hitachi Vantara and Ashurst to create solutions to ESG challenges by bringing together companies in this way has phenomenal potential."
