Jul 2026· Business Strategy and the Environment· 2 citations· 102 references
Abstract
Financial technology (FinTech) is recognized as an important enabler of sustainable development. However, it presents a fragmented and limited explanation of how FinTech may contribute to achieving the Sustainable Development Goals (SDGs). Through this hybrid systematic review of 93 articles published between 2015 and May 2026, this study explores responses to these questions. First, it synthesizes four mechanisms through which FinTech contributes to the SDGs: financial inclusion and access to capital, transparency and governance, risk mitigation and resilience, and data‐driven decision‐making. This review develops an integrated theoretical framework combining institutional, innovation diffusion, capability, and stakeholder perspectives. Our analysis suggests that FinTech may contribute unevenly across the economic, social, and climate‐related SDGs and that uncertainty is increasingly conditioning sustainability outcomes. Finally, this review offers theoretical, policy, and future research implications on the subject.
JEL Classification:
A1O1O3
The growing concern about environmental sustainability has driven the emergence of FinTech solutions that can promote sustainable finance (sustainable finance index (SFI)) and incorporate environmental, social, and governance aspects. However, significant challenges remain that limit its scope and influence, and further research is necessary to clarify its role and effectiveness in the sustainability domain. The main objective of the study is to investigate the interrelationship among FinTech, institutional quality (institutional quality index (IQI)), sustainable finance (SFI), and environmental and social sustainability in the G20 economies. The study employs a battery of methodological tools, including the Method of Moments-Quantile Regression, System-Generalized Method of Moments, and Panel Quantile-on-Quantile Kernel Regularized Least Squares, using panel data covering the period from 2004 to 2023. The empirical results show that FinTech enhances the SFI, and its impact is heterogeneous across various levels of sustainable finance distribution. IQI moderates this association, showing that strong governance, high-quality regulatory frameworks, and sound legal institutions are essential to maximizing FinTech's influence on the SFI. The results also support the idea that the SFI is environmentally and socially sustainable, as evidenced by reductions in ecological footprint and improvement in social welfare. However, FinTech development increases the ecological footprint, creating a sustainability paradox unless it is compatible with green infrastructure, clean energy transitions, and strong institutional frameworks. The study therefore recommends scaling FinTech and SFI initiatives by strengthening institutions, offering incentives to promote green innovation, and harmonizing policies and strategies to achieve socially inclusive, environmentally sustainable development in G20 member states.
Sabeeh Ullah, Md. Shabbir Alam· Energy & Environment· 0 citations
Environmental sustainability is increasingly viewed as a key priority for organizations striving to align economic growth with ecological responsibility. As digital technology continues to evolve rapidly, financial technology (FinTech) has emerged as a significant enabler of efficient financial services, improved information transparency, and optimized resource allocation. However, limited research has explored the organizational mechanisms through which FinTech adoption (FA) enhances environmental performance (ENP). To fill this gap, the present research investigates the impact of FA on ENP by exploring the mediating effects of green dynamic capability (GDC) and green innovation (GI). A conceptual framework integrating these constructs is developed and empirically tested using a hybrid analytical approach. Specifically, Partial Least Squares Structural Equation Modeling (PLS-SEM) is employed to evaluate the hypothesized relationships and mediating effects among the constructs. Subsequently, Artificial Neural Network (ANN) analysis is applied to assess the predictive strength and relative importance of the significant determinants identified in the PLS-SEM stage. FA exerts both direct and indirect positive effects on ENP, with GDC and GI acting as mediating pathways. Furthermore, ANN analysis shows that GDC exerts the strongest influence on ENP, followed by GI and FA. By integrating PLS-SEM and ANN, this research offers a more in-depth analytical perspective than single-method approaches and provides deeper insights into how FA facilitates organizational environmental sustainability.
Yiran Chen, Yulu Ying· Journal of Finance and Accou...· 0 citations
This study investigates the evolving role of fintech in shaping global financial systems, with a focus on three interlinked dimensions: (i) integration of Environmental, Social and Governance (ESG) principles into fintech growth; (ii) the disruptive impact of fintech on the traditional financial ecosystem; and (iii) the feasibility of replicating India’s digital public infrastructure model (e.g., UPI) in other developing economies, such as Brazil, Indonesia and Nigeria. Using a mixed-method design, the study combines quantitative trends with qualitative policy analysis across macro, firm and cross-country levels, drawing on the BIS, IMF, World Bank RBI/NABARD reports and firm-level Environmental, Social and Governance (ESG) disclosures, such as Paytm’s TUV-assured BRSR. Comparative benchmarking further assesses India’s fintech infrastructure against Brazil’s Pix, Indonesia’s QRIS and Nigeria’s mobile money frameworks to evaluate scalability and policy adaptability. Findings highlight that fintech integration of Environmental, Social and Governance (ESG) principles—through green finance, sustainability-linked products—enhances corporate credibility and is associated with revenue growth. At the industry level, fintech platforms are shown to reshape financial intermediation by lowering transaction costs and expanding credit access. Cross-country benchmarking indicates that replicating India’s digital public infrastructure in Brazil, Indonesia and Nigeria hinges on governance, interoperability and institutional trust. The study contributes by bridging macro-level investment flows, micro-level corporate strategies and cross-country policy frameworks, offering actionable insights for policymakers and industry stakeholders seeking to balance innovation and stability in the global fintech ecosystem.
Ayushi Sharma, Aarohi Agrawal· International Journal of Fin...· 0 citations
Recently, digital transformation has become a recognized critical facilitator of the environmental, social, and governance (ESG) performance. However, this transformation remains fragmented across the sustainability, finance, management, and technology literature. This study offers a bibliometric analysis of 478 publications (2016–2026) drawn from 155 sources, employing a PRISMA-based selection process, followed by a performance analysis and science mapping. The rapidly annual growth, with the research output of 52.04%, is concentrated geographically, particularly in China. The co-citation and keyword co-occurrence analyses reveal the converging thematic streams, encompassing the digital transformation, ESG performance, sustainability reporting, green finance, green innovation, and industry 5.0 transitions. The conceptual mapping indicates a shift from a broad digitalization discourse toward the specialized topics, such as the digital ESG, AI-enabled sustainability systems, and resilience-focused transition frameworks. The study identifies the structural imbalances in the geographic representation and conceptual fragmentation, offering a foundation for future theory-building, comparative empirical studies, and policy-oriented inquiry into the digital pathways for a sustainable transition.
O. Bhandari, Sandip Paudel, Sampurna Paudel· Academia Journal of Humaniti...· 0 citations
Background The urgency of climate action and the pursuit of sustainable development have positioned Environmental, Social, and Governance (ESG) criteria and green economy transitions as central policy instruments, particularly in emerging markets where economic growth must be reconciled with environmental stewardship. Despite growing scholarly attention, the mechanisms linking ESG implementation to Sustainable Development Goal (SDG) achievement remain fragmented and context-dependent. Methods Following PRISMA 2020 guidelines, a structured search was conducted on the Scopus database for peer-reviewed articles published between 2020 and 2026. Of 2,065 initial records, 756 advanced to title and abstract screening, 25 underwent full-text assessment, and 11 studies met all inclusion criteria for qualitative synthesis. Data were extracted using a standardised form, and risk of bias was assessed using a custom three-point scale. Results The synthesis reveals six principal mechanisms through which ESG implementation drives SDG acceleration: (1) green finance and renewable energy directly improve human development, life expectancy, and emissions reduction; (2) ESG disclosures and CSR practices enhance investment and environmental performance, mediated by green innovation and accounting; (3) mandatory regulations and audit mechanisms amplify voluntary ESG effectiveness; (4) short-term costs consistently precede long-term gains; (5) export diversification reduces ecological footprints; and (6) spatial spillovers are negative in archipelagic contexts, requiring deliberate policy coordination. Conclusions ESG and green economy initiatives are powerful drivers of SDG achievement when supported by strong institutions, patient capital, and spatially aware policies. For emerging markets, the path to sustainable development requires aligning financial, corporate, and governance mechanisms to ensure transition costs are outweighed by long-term resilience and equity gains.
A. Setyawan, M. Wahid, Mikhael Riandi Rakinaung et al.· F1000Research· 0 citations
The convergence of Financial Technology (FinTech) and green finance represents a paradigm shift in the global effort to achieve carbon neutrality, offering a technological solution to the chronic "green finance gap" that currently hinders climate-resilient development. By integrating digital innovations such as blockchain and artificial intelligence (AI), the financial sector can effectively mitigate the "principal-agent" problem and reduce information asymmetry, ensuring that capital is directed toward authentic green projects rather than misleading "greenwashing" initiatives (Albert et al., 2025; Gao et al., 2024). In emerging economies like the BRICS and E7 nations, FinTech acts as a vital accelerator for energy efficiency and sustainable growth, providing the infrastructure necessary for transparent carbon credit trading and real-time ESG performance monitoring (Liu et al., 2022; Udeagha & Muchapondwa, 2023). However, the long-term success of this digital-sustainability nexus is contingent upon overcoming systemic barriers, including data fragmentation, regulatory gaps, and the persistent digital divide, which require a coordinated, multi-stakeholder strategic response to ensure that the benefits of inclusive green finance are shared equitably across the global economy (Galeone et al., 2024; Liu et al., 2022).
Mrs. Shrutika R. Thakkar· International journal of bus...· 0 citations
