GaiaLens, recognised for its Greenwashing Analytics Solution, will leverage the funding it received to further enhance its technology. This solution aims to assist investors in assessing the greenwashing risk tied to both funds and companies.

A total of 20 fintech companies were selected to work alongside 10 Industry Challenge Partners and academic institutions, focusing on the development of innovative solutions that promote ESG integration across financial services. Of these 20 participants, eight, including GaiaLens, secured financial backing to advance and refine their proposals. GaiaLens, in particular, responded to a greenwashing challenge put forth by the investment company Abrdn.

The innovation call, which was launched in June 2024, is part of the Financial Regulation Innovation Lab (FRIL), a collaborative initiative led by FinTech Scotland, in partnership with the University of Strathclyde and the University of Glasgow. Its goal is to address key challenges surrounding data and technology to improve the inclusion of Environmental, Social, and Governance (ESG) principles within the financial sector. The Industry Challenge Partners included prominent names like Lloyds Banking Group, Barclays, Morgan Stanley, Phoenix Group, Virgin Money, HSBC, abrdn, EY, Sopra Steria, and Equifax. GaiaLens will be working closely with HSBC and Abrdn in the coming months to further develop its solution.

GaiaLens, an AI-driven platform, provides institutional investors and financial services firms with ESG tools for sustainability assessments, investment analysis, and in-depth research. Its advanced analytics capabilities streamline the investment process while addressing the growing risks of greenwashing.

“We are thrilled to be selected as one of the winners of this prestigious innovation call,” said Gordon Tveito-Duncan, CEO and Co-Founder of GaiaLens. “This initiative reinforces the growing importance of reliable ESG data and technology, providing investors with the confidence and insights needed to navigate the evolving landscape of sustainable finance. The funding we have received will allow us to further develop our Greenwashing Analytics Solution, ensuring that investors have the tools they need to make informed, transparent ESG investment decisions,” he adds.

Founded in 2021, GaiaLens is led by a group of finance professionals, technologists, and academics who firmly believe that economic value creation can and should be combined with environmental stewardship, social inclusion, and sound governance.