Eq: Tech

(New York)

ESG is taking over Europe and PWC is forecasting that ESG could make up €775.7bn to €1.2tn by 2025. That figure would make ESG 27-42% of Europe’s entire private financial market, for context it is about 15% currently. Driving that projection is the EU’s new sustainable finance disclosure regulations. Almost a third of the firms surveyed cited regulation as a primary force pushing their ESG investment. Sustainable investing in Europe is also seeing large growth in a public investments like pension funds. Finally, PwC said they see a new wave of private funds coming in the future rather than a re-rigging of existing financial funds to be more ESG friendly.

FINSUM: Public investment is a critical piece of Europe’s ESG investment, which is why it was very important when the U.S. opened the doors for public sustainability investment recently.

Facebook was blacked out on Monday October 5, 2021, which they claim was related to technical issues on their backbone routers. This came just before Frances Haugen, former product manager for Facebook’s civil integrity team, said that regulators need to intervene in the ‘crisis’. Haugen told ‘60 Minutes’ that she saw Facebook consistently choose profits over public safety at Facebook.She took with her tens of thousands of documents that prove these claims. Additionally, she filed complaints with the SEC that Facebook misled investors and advertisers by not sharing the whole picture about its platform.

FINSUM: This was a huge hit to Facebook stock on Monday, but it piggybacked on the rest of tech’s rally Tuesday morning to see some recovery. It is difficult to tell how long this may loom over the stock.


Southeast Asia is bursting on to the Fintech scene with a host of new companies. Ascend Money, is one of Thailand’s darlings and just became the country’s newest unicorn. Ascend found early funding from Jack Ma’s Ant Group Co. and Charlene Pokphand Group, and just secured $1.5 billion in its latest round of funding. Ascend plans to use the funding to improve its mobile wallet app TrueMoney. They view this latest funding as a testament to the positive ecosystem in Thailand for start ups and financial technology companies. Still Ascend’s $14 billion operation that spans Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam, faces competition from established financial firms in the region like Siam Commercial Bank Plc and other financial start ups.

FINSUM: This story is a reflection of the bourgeoning Fintech industry in the South East Asia region, no doubt the leader in emerging markets for new technology companies.

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