Metaverse in fintech: banks worry about environmental impact

More than two-thirds of banks (67%) are concerned that the metaverse will have a negative impact on their carbon footprint, according to the results of a new survey.

Digital transformation agency Mobiquity asked 150 top UK banking executives about their attitude towards the metaverse. More than half (56%) say they are actively investing in the metaverse with 61% of large banks already using metaverse technologies.

But many banks believe the new frontier will challenge their carbon footprint, at a time when major financial institutions are pledging to reach net zero within the next decade. The vast majority of UK banks (94%) plan to address the environmental impact of the metaverse’s energy needs in some way, knowing that their involvement in technology…