Jun 2026· Sustainability· Vol 18, pp. 6619· 0 citations· 40 references
Abstract
Sustainable development, challenged by the global climate crisis, environmental degradation, and income inequality, requires more than growth-oriented indicators. In this context, the impact of financial innovation (FinTech) on the economic, environmental, and social dimensions of sustainability in emerging economies has been debated. This study empirically identifies the multidimensional effects of FinTech on sustainability across 23 emerging economies from 2011 to 2023. Using 299 observations over a 13-year period, we apply the triple bottom line (TBL) framework. It also tests the moderating role of physical capital accumulation in the relationship between FinTech and economic sustainability using an economic model. Two-way fixed-effects models were constructed for economic, environmental, and social sustainability metrics. A FinTech index derived from Google Trends search frequencies related to artificial intelligence, blockchain, cloud computing, and data technologies, validated through factor analysis and reliability tests, was used as the primary independent variable. To address the identified issues of heteroscedasticity, autocorrelation, and cross-sectional dependence, robust estimates were obtained using Driscoll and Kraay’s standard errors. The results indicate that FinTech does not have a statistically significant direct effect on economic or environmental sustainability. However, FinTech is positively associated with social sustainability, and its contribution to economic sustainability becomes significant when sufficient physical capital accumulation is supported. Interaction analysis revealed that the contribution of FinTech to economic sustainability is conditional. The marginal effect is negative at low levels of physical capital accumulation but turns positive as physical capital accumulation increases. The findings indicate that FinTech acts as a lever to strengthen inclusivity under SDGs 1 and 10; however, it does not automatically generate economic or ecological gains for SDGs 7, 9, and 13 unless it is integrated with physical infrastructure investments, green/ESG regulations, green credit quotas, and renewable energy strategies.
An analysis of the complex, and intertwined, relationships between global economic development, and green environmental sustainability. With economic growth indicators (GDP, trade openness, foreign direct investment) as independent variables and green environmental performance (carbon emissions, renewable energy adoption, ecological footprint) as mediating and dependent constructs, the paper integrates existing literature within a systematic framework. A study of empirical evidence for 2020–2026 shows that unrestrained economic growth contributes to environmental destruction, whilst appropriately designed green transitions can promote inclusive and sustained development in the long term. The main problems identified include policy fragmentation, financing gaps, institutional weaknesses, and the technology gap between developed and developing nations. The paper concludes that embedding Environmental, Social and Governance (ESG) frameworks, circular economy principles and multilateral mechanisms for climate finance are necessary as the basis for aligning economic ambition with planetary boundaries. This article contributes to the literature examining sustainable development, environmental economics, and global governance with practical implications for policymakers, international organisations, and development financiers.
Sreekumar P G, Suvarnalakshmi. V, S. Udayakumar et al.· International Journal of Eco...· 0 citations
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
In today's world, sustainability strategies play a critical role in the transformation of global economies and industries. Green Economic Growth (GEG), which prioritizes environmental factors, is gaining increasing importance. Financial and green innovation are identified as the main driving forces behind GEG. However, research on the effects of these factors in OECD countries remains limited, and existing findings often show inconsistencies regarding the direction and magnitude of these effects. This study aims to comprehensively examine the impact of financial and green innovation on GEG in OECD countries. Using annual data from 15 OECD countries for the period 1996–2021, panel data techniques are applied. Cointegration tests are conducted to determine the presence of long-run relationships among the variables. Subsequently, long-run coefficients are estimated using the panel quantile regression method. The robustness of the findings is tested through OLS and fixed effects models. Additionally, causality tests are employed to explore the directional relationships between the variables. The results indicate that green innovation has a positive long-run effect on GEG, whereas financial innovation exerts a negative impact. Causality tests reveal bidirectional relationships among all variables. Policy recommendations include the promotion of green bonds and sustainable finance instruments, support for green investments through regulations that take environmental risks into account, and the expansion of access to green projects via technologies such as blockchain-based carbon markets. This research provides valuable insights for policymakers in designing more effective strategies to foster sustainable economic growth.
H. G. Diler, Münevver Yildiz, N. Vurur et al.· Tesam akademi dergisi· 0 citations
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
Salman Bahoo, G. Kondrateva, Ramil Khabirov et al.· Business Strategy and the En...· 2 citations