Unleashing Fintech’s potential: A catalyst for green bonds issuance

Jin Huang, Ruiqi Liu, Wenting Wang, Zi'ang Wang, Congwei Wang and (Jimmy) Jin, Yong

Journal of International Financial Markets, Institutions and Money, 2024, vol. 93, issue C

Abstract: Financial technology, also known as fintech, is transforming daily lives and revolutionising the financial industry. However, there is currently no consensus regarding the effect of fintech on the green bond market. Using novel Chinese data, this study provides robust evidence that fintech development can significantly boost green bond issuance. Further analysis suggests that this promotional effect occurs by empowering intermediary institutions and increasing social environmental awareness. Additionally, we investigate the heterogeneous effect and find that the positive relationship is more pronounced for bonds without high ratings and whose proceeds are not used for refinancing. This effect is also stronger for non-state-owned issuers and in cities connected with High-Speed Railway networks or located in the eastern region of China. These results call for attention from policymakers and security managers to take further notice of fintech utilisation in green finance products.

Keywords: Fintech; Green bonds; Intermediary environment; Environmental awareness (search for similar items in EconPapers)
JEL-codes: G15 G23 G24 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfin:v:93:y:2024:i:c:s1042443124000751

DOI: 10.1016/j.intfin.2024.102009

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