Open Source in Finance Forum New York 2024

In the rapidly evolving landscape of ESG data, financial institutions face the dual challenges of data fragmentation and security. This session will explore OS-Climate's innovative use of open source technologies, including Apache Iceberg, Apache Spark and the Unity Catalog, the industry's only universal catalog for data and AI, to enable secure and efficient ESG data sharing across financial institutions. Through this session, participants will gain insights into the strategic benefits of leveraging open source tools for ESG data management, including enhanced data security, governance, and interoperability. In particular we will demonstrate how Unity Catalog Unity's multimodal interface supporting various data formats and engines supports compatibility across diverse data ecosystems to facilitate seamless integration and governance of data assets, allowing financial institutions to not only meet regulatory compliance but also to harness ESG data for strategic advantage.

Financial Services Institutions (FSIs) face unique challenges in measuring and reducing their technology carbon footprint due to the scale and complexity of their IT estates. This session provides a broad overview of the challenges and existing standards and resources (including Green Software Foundation SCI, CNCF Kepler etc) - including challenges in terms of trust and comparability. To address many of these challenges the Technology Carbon Standard (TCS) has been created. TCS is an open source framework inspired by the GHG Protocol, provides a standardized approach for FSIs to classify, analyze, and benchmark their tech-related emissions. In this session, we'll discuss how FSIs can apply the TCS to identify carbon-intensive areas, prioritize reduction efforts, and align with regulatory requirements and voluntary commitments. We'll share case studies demonstrating the practical application of the TCS in the financial services context and explore how open collaboration can accelerate the adoption of sustainable IT practices across the industry.