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RFI Summit in Zurich sets course for the future direction of responsible finance

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RFI Summit concludes with awarding of a ‘golden ticket’ for one finalist in the Support Disruption for Good (SDG) Challenge to create lasting impact

Following on a successful first day focused on ethical, responsible and Islamic FinTech, the Responsible Finance & Investment (RFI) Summit 2017 concluded last Thursdaywith an interactive discussion focusing on the areas for collaboration between the responsible investment industry, which manages $22 trillion in assets, and Islamic finance, which oversees more than $2 trillion.

The final day’s sessions focused on the shared values that bring together environmental, social and governance (ESG) with impact investing and Islamic finance. During his Keynote Address, H.E. Governor KairatKelimbetov, Governor of the Astana International Financial Centre highlighted the complementary roles that Islamic finance and green finance can play in supporting financial stability, encouraging greater economic growth and doing both in a way that also reduces and mitigates the effect of CO2 emissions. May 8, 2017, Zurich, Switzerland – Following on a successful first day focused on ethical, responsible and Islamic FinTech, the Responsible Finance & Investment (RFI) Summit 2017 concluded last Thursdaywith an interactive discussion focusing on the areas for collaboration between the responsible investment industry, which manages $22 trillion in assets, and Islamic finance, which oversees more than $2 trillion. May 8, 2017, Zurich, Switzerland – Following on a successful first day focused on ethical, responsible and Islamic FinTech, the Responsible Finance & Investment (RFI) Summit 2017 concluded last Thursdaywith an interactive discussion focusing on the areas for collaboration between the responsible investment industry, which manages $22 trillion in assets, and Islamic finance, which oversees more than $2 trillion.

After panelists discussed in more detail the specific areas for collaboration between responsible investment and Islamic finance, H.E. Ambassador Marc Bichler, Ambassador-at-Large for Climate Change and Human Rights from Luxembourg connected what is being done within the financial sector to the broader issues of climate change and human rights, all of which support achievement of the UN Sustainable Development Goals.

These goals, which outline an ambitious and aspirational goal for social, environmental and economic progress, will require significant financing – between $5 trillion and $7 trillion annually through 2030 – and the private sector, including the financial sector, plays a key role in mobilizing these resources.  The contribution of FinTech to addressing the sustainable development goals is often underappreciated, especially where it is practiced in a way that supports greater financial inclusion.

In order to support these efforts, the RFI Summit, in partnership with the Swiss Finance + Technology Association and Finocracy launched the Support Disruption for Good Challenge ahead of the Summit to find innovative startups working in this area.  An independent judging panel composed of 10 leaders from different backgrounds across the finance, venture capital and professional services industries selected three finalists, AgriFunder, Pintail and Tez Financial Services, to present during the RFI Summit 2017.

Following presentations by each finalist, the audience had an opportunity to vote for the startup that displayed the most promise and the top vote getter, Tez Financial Services, was awarded with a ‘golden ticket’ to the final pitching round for F10 FinTech Startup Incubator & Accelerator, a Swiss accelerator focused on FinTech, InsureTech and RegTech sponsored by the SIX Financial Information and leading Swiss banks and insurers.

About the Support Disruption for Good Challenge

The RFI Foundation, in partnership with the Swiss Finance + Technology Association, Finocracy and the Responsible Finance & Investment (RFI) Summit partners, launched the Support Disruption for Good (SDG) Challenge to find the most promising ethical, responsible or Islamic FinTech.  All applicants were judged against a transparent set of criteria by an independent judging panel and judges evaluated the ability of each entrant to effectively scale, contribute to financial inclusion and contribute to the UN Sustainable Development Goals while becoming financially sustainable. Three finalists were selected and presented their innovation on 4 May 2017 during the RFI Summit in Zurich.

About the Responsible Finance & Investment Summit 2017

The Summit,which was held on 3 and 4 May 2017 at the Atlantis Hotel by Giardino in Zurich, Switzerland, plays a vital role in connecting representatives from across the responsible finance industry to build on the growing cooperation between responsible investment (RI), environmental, social and governance (ESG) and Islamic finance. The RFI Summit in Zurich is an initiative of the RFI Foundation and Swiss Arab Network, two globally active nonprofits institutions seeking to build awareness of shared values that can bring together people from various backgrounds working towards similar goals connected to generating benefits to society.

About RFI Foundation

The RFI Foundation is a non-profit organisation with a mission to identify a neutral, nonpartisan and universal value proposition that encourages convergence of responsible finance practices. RFI evolves Sustainable, Responsible, Impact Investing (SRI), Environmental, Social and Governance (ESG) and the Islamic finance sectors towards a convergence of their shared standards, and engages stakeholders to build the responsible finance industry as a catalyst to support equitable, inclusive and sustainable economic development.

About Swiss Arab Network

The Swiss Arab Network (SAN) is a non-profit networking organization with headquarter in Zurich and affiliations in the Arab world that strives to bridge gaps, promote sustainable exchange and intensify the mutual understanding among Swiss and Arab people. SAN is a networking platform and organizes events and gives speeches on topics like Swiss and Arab finance, business, culture, art and film. Established and high-profile organisations from Switzerland and the Arab world are members of the network.

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