Driving Decarbonization in Financial Services with CarbonSifr's Mustafa Bosca

How can the financial sector lead the way in global decarbonization efforts? In this episode, we sit down with Mustafa Bosca, Co-Founder and Chief Decarbonization Officer at CarbonSifr, to explore the pivotal role financial services play in combating climate change. We delve into how Mustafa helps banks and organizations measure, reduce, and remove their carbon footprints, leveraging data to drive impactful change. Mustafa also shares his journey from being a BCG consultant to becoming a climate tech entrepreneur.

Discussion Highlights:

• The Financial Sector's Role in Decarbonization: Mustafa explains how financial services are embedded in every aspect of our lives and how banks can enable decarbonization by financing sustainable projects. Mustafa highlights that decarbonization is not a zero-sum game. By investing in sustainable practices, businesses can increase efficiency, reach new customer segments, and engage customers in innovative ways. 
• Real-World Applications and Partnerships: Mustafa shares examples of how CarbonSifr works with clients to decarbonize their operations. One case involves a "dark kitchen" where they identified that beef sourced from Brazil contributed significantly to the company's carbon footprint. By reorganizing the supply chain and working with climate tech partners, they helped reduce emissions.
• Partnership with Careem: Mustafa elaborates on their collaboration with Careem, a ride-sharing app. They created an eco-friendly ride option where customers can choose a ride that offsets its carbon emissions. This involves calculating the carbon footprint of each ride and investing in nature-based carbon removal projects, engaging consumers directly in sustainability efforts.
• Challenges of Building a Climate Tech Startup: Mustafa shares his experiences transitioning from consulting to entrepreneurship. He talks about the challenges of getting into the technical details, working with programmers, and balancing immediate tasks with long-term goals while managing scarce resources.  He also acknowledges that consulting skills learned during his time at BCG that help him in this entrepreneurial journey. 
• The Path to Net Zero by 2050: Looking ahead, Mustafa discusses the critical steps the financial services industry must take to reach net zero. He stresses the importance of awareness in the sector's role, balancing risks and returns, and the necessity for banks and asset managers to actively participate in climate action to mitigate future risks and capitalize on opportunities.

About Fintech Files:

Join us on Fintech Files from BCG Platinion as we explore the cutting-edge trends disrupting Fintech today. From NeoBanks to Digital Banking, we delve into the dynamic landscape of financial technology through insightful conversations with global disruptors. We’ll uncover the most groundbreaking trends shaping the future of Fintech and examine their impact on the financial world. Our episodes break down complex topics, with guests explaining everything in a way even their grandmas could understand. We focus on real-world examples, making financial technology relatable and accessible to both Fintech enthusiasts and professionals alike.

Meet the Hosts:

Hosted by Nora Hocke, a manager at BCG Platinion in Munich, and Annika Melchert, a principal currently based in the Middle East, our hosts bring expertise in tech transformations, platform architecture, and digital innovation. With a wealth of experience working with leading Fintechs, they offer unique insights into the evolving financial landscape. Joining them is Bianca Lopes, an entrepreneur and economist from Brazil, now based in Denmark, with a background in digital identity and biometrics. Having supported over 40 financial institutions and 8 governments, Bianca’s work reshapes technology, reimagines identity, and drives innovation.

We Want to Hear from You!

Reach out to us at fintech-podcast@bcgplatinion.com with your questions, guest suggestions, or topics you'd like us to explore. Or just drop in to say hi! Visit our website at https://www.bcgplatinion.com/insights/fintech-files-insights-on-tech-by-bcg-platinion and follow us on social media for updates and additional content.

The digital future is now.