Demystify Podcast: Embracing fintech and the green agenda with vice minister of finance, Lithuania
In this episode of the Demystify podcast, co-hosts Dave and Dharm had the opportunity to explore Lithuania’s ambitious journey in fintech and its commitment to sustainability with the vice minister of finance, Vaida Česnulevičiūtė Markevičienė.
The vice minister demystified Lithuania’s strategic approach in fintech and its proactive role in the EU, alongside ambitious goals in green finance. Lithuania is setting an exemplary example, not just in fintech leadership but also in its commitment to a sustainable future.
Tune in to the podcast for an in-depth discussion on Lithuania’s cutting-edge fintech and green finance strategies. Join us in exploring how collaboration and innovation can drive sustainable economic growth, including topics such as:
Fintech growth and EU influence
- Lithuania has seen remarkable growth in fintech, now leading the EU with the most e-money and payment institutions.
- The country actively influences EU fintech policies and anti-money laundering (AML) regulations, ensuring they align with business needs.
- A collaborative five-year fintech strategy involving over 80 experts has been developed, emphasising market-inclusive planning and implementation.
Towards a net-zero economy
- Lithuania is committed to becoming a net-zero economy by 2050, a challenging yet essential transition for businesses, individuals, and the state.
- Recognising a funding gap, the Green Finance Action Plan was initiated, aiming to combine public funds with private investments to green the economy.
- Key aspects of the plan include defining ‘green’ standards to avoid greenwashing, integrating ESG into corporate financing, and establishing an open database for informed decision-making.
Green Finance Institute and public procurement
- The Green Finance Institute, established in September 2023, connects the market with the public sector, focusing on research and advisory roles to promote green financial instruments.
- In a groundbreaking move, 100% of Lithuania’s public procurement is now green, a significant leap from less than 10% three years ago.
- Plans include marking the state budget with green criteria and continuing to issue green bonds, as Lithuania was among the top ten global countries to do so.
Financial literacy and education
- Financial literacy and societal education are vital to the plan, ensuring widespread understanding and support for green initiatives.
Kudos to Lithuania for leading the way in both financial innovation and sustainability! You can also find more information on these topics in this article.
Thanks to Orama for editing this podcast. You can find out more about Orama and the services they offer here.
Take a look at the full catalogue of episodes on the Dave & Dharm Demystify Podcast homepage.
