FinTech and Sustainable Finance: How is FinTech Shaping the Future of Sustainable Finance?

Mohammad Hasibul Hasan, Muhammed Zakir Hossain, Latul Hasan and Md Abutaher Dewan
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Mohammad Hasibul Hasan: International American University, USA
Muhammed Zakir Hossain: State University of Bangladesh, Bangladesh
Latul Hasan: International American University, USA
Md Abutaher Dewan: International American University, USA

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Abstract: This research explores the transformative role of Financial Technology (Fintech) in advancing sustainable finance, focusing on the opportunities and challenges it presents. As the global financial landscape increasingly emphasizes sustainability, Fintech innovations such as blockchain, artificial intelligence (AI), and digital payment systems are helping to democratize access to green investments, enhance transparency in Environmental, Social, and Governance (ESG) reporting, and promote financial inclusion. By examining case studies and reviewing key technological advances, the study highlights how Fintech platforms contribute to areas like carbon trading, renewable energy crowdfunding, and ESG risk assessment. However, significant challenges persist, including regulatory fragmentation, cybersecurity risks, and the digital divide, which limit the widespread adoption of Fintech-driven sustainability solutions. The findings offer valuable insights for policymakers, financial institutions, and Fintech startups, stressing the need for supportive regulatory frameworks, global standards, and stakeholder collaboration to maximize Fintech's potential in achieving sustainable development goals. Future research directions are also identified, with a focus on regulatory advancements, social sustainability, and cross-border innovations.

Keywords: Artificial Intelligence; Carbon Trading; Green Finance; ESG Reporting; Financial Inclusion; Blockchain; Sustainable Finance; Financial Technology (search for similar items in EconPapers)
Date: 2024-11-01
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Published in European Journal of Management, Economics and Business, 2024, 1 (3), pp.100-115. ⟨10.59324/ejmeb.2024.1(3).09⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05736704

DOI: 10.59324/ejmeb.2024.1(3).09

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