He adds: "Because we're a technology provider, we have to think from the perspective of technologies to resolve this issue, to help banks reduce their carbon emission. [This is why we will] use our technology to help banks to upgrade into a sustainable and autonomous infrastructure, which means this infrastructure will be quite different from what we used to have before. It will be much more saving on energy."
Given the financial sector’s impact across industries and consumers, banks should be leading the race to net zero. They can do so by offering green finance solutions, which encourage the development of green projects or minimise the impact on the climate of more regular projects. Additionally, they also need to green their operations to reduce their carbon footprint.
"For banks to provide financial services, they are actually a very large consumer of computing resources and computing power. So [as they] go digital, they need to consume a lot of digital resources and they need to consume a lot of data," says Jason Cao, CEO of Huawei’s Global Digital Finance Team, at today’s Huawei Intelligent Finance Summit 2022 media briefing in Singapore.
