Mauritius Boosts Sustainable Finance with EU-Backed SUNREF Initiative: A Green Future Ahead!

Mauritius Boosts Sustainable Finance with EU-Backed SUNREF Initiative: A Green Future Ahead!

The Bank of Mauritius has established a significant new partnership aimed at promoting sustainable finance in the country. This collaboration includes the Agence Française de Développement (AFD), the Delegation of the European Union, the Mauritius Bankers Association Limited, and Business Mauritius. This initiative is part of the “SUNREF – Cap sur la Finance Durable” Program, which seeks to align Mauritius’ financial sector with global sustainability objectives.

Objectives of the Sustainable Finance Initiative

This strategic partnership is expected to:

  • Enhance the regulatory frameworks within Mauritius.
  • Build resilience in the financial sector.
  • Encourage investments in green projects.

Key Focus Areas

The Bank of Mauritius will play a crucial role by:

  • Integrating climate-related risks into monetary and financial oversight.
  • Strengthening institutional capacity to tackle environmental challenges.
  • Developing robust climate risk models.
  • Incorporating climate risks into macroprudential policies.
  • Closing gaps in climate data.
  • Expanding its Climate Change Centre.

These initiatives aim to ensure that Mauritius’ financial system remains resilient and adaptable in the face of increasing climate challenges while supporting inclusive economic development.

Commitment to Sustainability

Rajeev Hasnah, the first deputy governor of the Bank of Mauritius, emphasized the importance of this partnership, stating, “The Bank recognizes that the future of financial stability and economic resilience is intrinsically linked to sustainability. This partnership underscores our commitment to embedding climate-related risks into the core of our monetary and financial stability frameworks, ensuring a secure and sustainable financial system for Mauritius.”

Global Implications

This collaboration highlights Mauritius’ growing influence in the global transition towards sustainable finance. With this new partnership, the Bank of Mauritius is taking proactive steps to lead the nation’s financial system towards environmental responsibility and long-term resilience.

READ ALSO  Endor Labs Secures $93M Funding to Enhance AI-Driven Application Security Platform

For further information on sustainable finance initiatives, you may visit the Agence Française de Développement and the Delegation of the European Union.

Similar Posts

Observo AI Secures $15M Funding to Combat Data Overload with Innovative Agentic AI Solutions

Observo AI Secures $15M Funding to Combat Data Overload with Innovative Agentic AI Solutions

Bysupport

Observo AI has raised $15 million in seed funding, led by Felicis and Lightspeed Venture Partners, to enhance its observability and security data solutions. The company specializes in optimizing data pipelines using machine learning and agentic AI, resulting in over 50% cost reduction, improved detection accuracy, and faster incident response. With a growing client base, including Bill and Informatica, Observo has achieved 600% revenue growth in just nine months. Co-founders Gurjeet and Ricky Arora aim to transform data management by automating tasks and providing actionable insights, addressing the challenges posed by the exponential growth of AI-generated data.

Texas-Based NinjaOne Clinches Record-Setting Global RegTech Deal in Q1 2025

Texas-Based NinjaOne Clinches Record-Setting Global RegTech Deal in Q1 2025

Bysupport

In Q1 2025, global RegTech funding increased by 18% to $2.3 billion across 121 deals, signaling a recovery from the $6.5 billion raised in 2024. The U.S. dominated the market, securing 60% of top deals, while notable new players emerged, including Israel and Australia. The largest deal was NinjaOne’s $500 million Series C extension, aimed at enhancing its endpoint management capabilities for regulatory compliance. With over 24,000 customers globally, NinjaOne’s recent investment will also help acquire Dropsuite, bolstering its data protection services. As regulatory scrutiny and cyber threats grow, RegTech investments are poised for further growth.

Equifax Hit with $15 Million Penalty for Major Credit Reporting Failures

Equifax Hit with $15 Million Penalty for Major Credit Reporting Failures

Bysupport

The Consumer Financial Protection Bureau (CFPB) has fined Equifax $15 million for mishandling consumer disputes related to credit report inaccuracies. The investigation revealed Equifax’s failures, including ignoring important consumer documents, mistakenly reinserted inaccuracies, and sending misleading communications. These lapses have eroded consumer trust and negatively impacted financial access for many individuals. The fine will go to the CFPB’s victims relief fund. Equifax, handling around 765,000 disputes monthly, was found to rely excessively on furnishers for dispute resolutions, leading to repeated inaccuracies. CFPB Director Rohit Chopra emphasized the need for accountability in consumer data management.

French FinTech Funding Plummets 40% in 2024 Amidst Diminished Investor Risk Appetite

French FinTech Funding Plummets 40% in 2024 Amidst Diminished Investor Risk Appetite

Bysupport

In 2024, the French FinTech sector experienced a significant decline, with funding dropping 40% year-over-year to $2.2 billion and a 64% decrease in deal activity, totaling only 140 deals— the lowest in five years. This downturn reflects investor caution due to macroeconomic challenges and regulatory shifts, emphasizing profitability over growth. Despite fewer deals, the average deal value rose by 67% to $15.8 million, indicating a focus on high-value opportunities. Notably, ChapsVision secured $90 million in funding to expand into European and North American markets, enhancing its AI capabilities through the acquisition of Sinequa.

Ocient Secures $132M in Series B Funding to Accelerate Sustainable Data Analytics Solutions

Ocient Secures $132M in Series B Funding to Accelerate Sustainable Data Analytics Solutions

Bysupport

Ocient, a Chicago-based software company, has raised $132 million in a Series B funding round, bringing its total capital to $159.4 million. The round attracted significant investments from firms like Allstate Strategic Ventures and Northwestern Mutual, highlighting growing interest in Ocient’s data analytics solutions for complex workloads. The funds will enhance energy-efficient analytics tools aimed at reducing costs for organizations dealing with data and AI operations. Ocient, recognized for its rapid growth and innovative technology, has also appointed Henry Marshall as CFO and strengthened partnerships with key industry players, including joining the NVIDIA Inception program.

Trust Over Price: How Consumer Choices in the Gig Economy are Influenced in the U.S.

Trust Over Price: How Consumer Choices in the Gig Economy are Influenced in the U.S.

Bysupport

Digital platforms have revolutionized holiday planning, enabling seamless services like ride-hailing and food delivery through smartphones. This shift highlights the gig economy’s reliance on consumer trust. A MarketSight survey of 1,000 U.S. adults revealed that 57% used sharing services, 77% utilized delivery services, and 56% engaged with home-sharing platforms in the past year. While cost is a major factor (52%), trust issues such as personal safety (58%), data privacy (52%), and fraud concerns (52%) also significantly influence choices. As the gig economy grows, understanding trust dynamics will be essential for service providers to maintain consumer confidence.

Leave a Reply

Your email address will not be published. Required fields are marked *