TOWARDS A GREEN ECONOMY: THE ROLE OF FINTECH IN DRIVING SUSTAINABLE FINANCE AND TECHNOLOGY

Abstract

In this paper, it is proposed to highlight the correlation between FinTech and environmental sustainability and to study new initiatives in the field of sustainable FinTech. Considering the existing climate crises and the growing significance of sustainable development, new FinTech solutions are enhancing the financial sector and integrating environmental concern into consumers’ decision-making and green finance. The paper also shows how the newest technologies like FinTech are being used to popularize green bonds for environmental transactions through e-wallets and P2P lending of Green Finance. By using only recent cases and analyzing the current tendencies in the application to the paper reveals the role of the following technologies in developing the economy with lower levels of carbon emissions. Also, it considers the positions, regulations, and leaders’ concerns regarding the FinTech-Sustainability nexus. Therefore, based on finance importance rating, IT application, and environmental sensitivity, the paper demonstrates that FinTech has a major potential to support the development of a sustainable financial environment and meet global environmental objectives. The research strategy entails the collection of secondary data from research articles, company reports, and market research. It reveals all the current trends and initiatives in sustainable FinTech, making it possible to develop a detailed view of modern tendencies. Consequently, it is evident that errors concerning sustainable developments goals need to be accurately identifies through the use of the policies, regulations, and innovations of FinTech. The identified approach provides both theoretical and methodological background and shows the applicability of FinTech in the issues of environmental sustainability and international goals towards sustainable development.