Role Of Fintech In Green Finance And Sustainable Development
Keywords:
Sustainable development, FinTech, green finance, big data, blockchainAbstract
Sustainable development is the common goal of human landscape. The evolution to sustainable economy is an inevitable trend of economic development. FinTech and green finance is strong driving force for sustainable economic development. This article aims to discuss the significant interactions among FinTech, green finance and sustainable development. This paper outlines the broad areas for the possible application of FinTech to green finance and sustainable development. The methodology used for the article is mainly the theoretical framework build based on the existing literature. This study could benefit policymakers and researchers in understanding the implications big data and blockchain and draws preliminary recommendations for policy makers interested in connecting FinTech, big data and blockchain with green finance and sustainable development. The study concludes that FinTech plays a vital role in green finance and sustainable development.
Downloads
References
Albekov, U.A., Vovchenko, N., Andreeva, G., Vladimirovna, O. and Sichev, R.A. 2017. Block Chain and Financial Controlling in the System of Technological Provision of Large Corporations. European Research Studies Journal, 20(3B), pp. 3-12.
Arner, D. W., Barberis, J., & Buckley, R. P. (2015). The evolution of FinTech: A new post-crisis paradigm. Geo. J. Int'l L., 47, pp. 1271.
Babbitt, D. & Dietz, J. (2014). Crypto economic Design: A Proposed Agent Based Modelling Effort. Swarm Fest 2014: 18th Annual Meeting on Agent-Based Modelling & Simulation. University of Notre Dame. USA. June 29 – July 1. Retrieved from http://www3.nd.edu /~swarm06/SwarmFest2014/Babbitt.pd f .
Berensmann, K., &Lindenberg, N. (2016). Green finance: actors, challenges and policy recommendations. German Development Institute/Deutsches Institutfür Entwicklungs politik (DIE) Briefing Paper, pp. 23.
Castilla-Rubio, J. C., Zadek, S., & Robins, N. (2016). Fintech and sustainable development: Assessing the implications. UNE P I n q u i r y. Re t r i e v e d f r o m http://unepinquiry.org/wp-content/ uploads/2016/12/Fintech_and_Sustaina ble_Development_Assessing_the_Implicat ions.pdf
Cen, T., & He, R. (2018, December). FinTech, Green Finance and Sustainable Development. In 2018 International Conference on Management, Economics, Education, Arts and Humanities (MEEAH 2018), pp. 222-225. Atlantis Press. https ://doi.org/10.2991/meeah 18.2018.40 .
Chaum, D. (1983). Blind signatures for untraceable payments. In Advances in cryptology, pp. 199-203. Springer, Boston, MA.
Deng, X., Huang, Z., & Cheng, X. (2019). FinTech and sustainable development: Evidence from China based on P2P data. Sustainability, 11(22), pp. 6434.
Dikau, S., &Volz, U. (2018). Central banking, climate change and green finance.
Dwyer, G. (2014). The Economics of Bitcoin and Similar Private Digital Currencies. July 8. dx.doi.org/10.2139 /ssrn.2434628.
Ferri G., Lipari F. (2019) Sustainable Finance Management. In: Migliorelli M., Dessertine P. (eds) The Rise of Green Finance in Europe. Palgrave Studies in Impact Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-
-22510-0_4 .
Financial Services Development Council: The Future of FinTech in Hong Kong (2017), p.6.
Foroglou, G., &Tsilidou, A. L. (2015, May). Further applications of the blockchain. In 12th student conference on managerial science and technology, pp. 1-8.
Han, K. S., Park, S. J., & Kim, J. B. (2016). A Study on the Trends of Fin Tech. International Journal of u-and e-Service, Science and Technology, 9(7), pp. 71-80.
Hasan, M. M., Popp, J., &Oláh, J. (2020). Current landscape and influence of big data on finance. Journal of Big Data, 7(1), pp. 1-17.
He, Z., Liu, Z., Wu, H., Gu, X., Zhao, Y., & Yue, X. (2020). Research on the Impact of Green Finance and Fintech in Smart City. Complexity, 2020.
Goglio S., Catturani I. (2019) Sustainable Finance: A Common Ground for the Future in Europe?. In: Migliorelli M., Dessertine P. (eds) The Rise of Green Finance in Europe. Palgrave Studies in Impact Finance. Palgrave Macmillan, Cham. https:// doi.org/10.1007/978-3-030-22510-0_10 .
Hinson, R., Lensink, R., & Mueller, A. (2019). Transforming agribusiness in developing countries: SDGs and the role of F i n Te c h . C u r r e n t O pi n i o n i n Environmental Sustainability, 41, pp. 1-9.
Hopwood, B., Mellor, M., & O'Brien, G. (2005). Sustainable development: m appi n g d iff e r e n t appro a c h e s . Sustainable development, 13(1), pp. 38- 52. https://doi.org/10.1002/sd.244 .
ICMA (International Capital Market Association). 2018. Green Bond Principles Voluntary Process Guidelines for Issuing Green Bonds June 2018. Paris: ICMA.
Itay Goldstein, Wei Jiang, G Andrew Karolyi, To FinTech and Beyond, The Review of Financial Studies, Volume 32, Issue 5, May 2019, pp. 1647–1661, https://doi.org/10.1093/rfs/hhz025 .
Legowo, M. B., Subanidja, S., &Sorongan, F. A. (2020, September ). Model of Sustainable Development Based on FinTech in Financial and Banking Industry: A Mixed-Method Research. In 2020 3rd International Conference on Computer and Informatics Engineering (IC2IE), pp. 194-199. IEEE.
Lerner, T. (2013). Mobile payment, pp. 1- 151. Springer.
Liu, Y., Peng, J., & Yu, Z. (2018, August). Big Data Platform Architecture under The Background of Financial Technology: In The Insurance Industry As An Example. In Proceedings of the 2018 International Conference on Big Data Engineering and Technology, pp. 31-35.
Madden, S. (2012). From databases to big data. IEEE Internet Computing, 16(3), pp. 4-6.
McAfee, A., Brynjolfsson, E., Davenport, T. H., Patil, D. J., & Barton, D. (2012). Big data: the management revolution. Harvard business review, 90(10), pp. 60-68.
Meunier, S. (2018). Blockchain 101: What is blockchain and how does this revolutionary technology work? In Transforming climate finance and green investment with Blockchains, pp. 23–34. Academic Press. https://doi.org/ 10.1016/B978-0-12-814447-3.00003-3 .
Migliorelli M., Dessertine P. (2019) Green Finance Today: Summary and Concluding Remarks. In: Migliorelli M., Dessertine P. (eds) The Rise of Green Finance in Europe. Palgrave Studies in Impact Finance. P a l g r a v e M a c m i l l a n , C h a m .
https://doi.org/10.1007/978-3-030- 22510-0_11 .
Nakamoto, S. (2009). Bitcoin: A peer-to peer electronic cash system Bitcoin: A Peer-to-Peer Electronic Cash System. Bit c o in. o r g . Di
//bitcoin.org /en/bitcoin-paper .
Nofer, M., Gomber, P., Hinz, O., &Schiereck, D. (2017). Blockchain. Business & Information Systems Engineering, 59(3), pp. 183-187.
NRI (2015) Survey on Blockchain Technologies and Related Services, Technical Report.
Peters, G.W., Panayi, E. and Chapelle, A. (2015) Trends in Crypto-Currencies and Blockchain Technologies: A Monetary Theory and Regulation Perspective.
Philippon, T. (2016). The FinTech opportunity (No. w22476). National Bureau of Economic Research.
Raluca, G.H.; Popescu, C.; Popescu, G.N. An E xpl o r a t o r y S t u dy Ba s e d o n a Questionnaire Concerning Green and Sustainable Finance, Corporate Social Responsibility, and Performance: Evidence from the Romanian Business
Environment. J. Risk Financ. Manag. 2019, 12, pp. 162.
Sachs, J., Woo, W. T., Yoshino, N., & Taghizadeh-Hesary, F. (2019). Importance of green finance for achieving sustainable development goals and energy security. Handbook of green finance: Energy
security and sustainable development, pp. 3-12.
Sachs, J. D., W. T. Woo, N. Yoshino, and F. Taghizadeh-Hesary. 2019. “Importance of Green Finance for Achieving Sustainable Development Goals and Energy Security.” In Handbook of Green Finance. Sustainable Development, edited by J. Sachs, W. Woo, N. Yoshino, and F. Taghizadeh-Hesary, pp. 3–12. Singapore: Springer.
Sachs, Jeffrey D. and Woo, Wing Thye and Yoshino, Naoyuki and Taghizadeh-Hesary, Farhad, Why Is Green Finance Important? (January 22, 2019). ADBI Working Paper 917 (2019), Available at SSRN: https://ssrn.com/abstract =3327149or
h t t p : / / d x . d o i . o r g / 1 0 . 2 1 3 9 /ssrn.3327149 .
Shin, Y. J., & Choi, Y. (2019). Feasibility of the fintech industry as an innovation platform for sustainable economic growth
; Available online: https:// sustainabledevelopment. un.org/content /documents/5987ourcommon-future. pdf .
World Commission on Environment and Development. (1987). Report of the World Commission on Environment and Development: Our Common Future. UN Documents: Gathering a Body of Global Agreements.
in Korea. Sustainability, 11(19), pp. 5351.46. Wüst, K., & Gervais, A. (2018, June). Do you need a blockchain?. In 2018 Crypto Valley
Sohangir, S., Wang, D., Pomeranets, A., & Khoshgoftaar, T. M. (2018). Big Data: Deep Learning for financial sentiment analysis. Journal of Big Data, 5(1), pp. 1-25.
Varga, D. (2018). FinTech: Supporting Sustainable Development By Disrupting Finance. Budapest Management Review, 8(11), pp. 231-249.
Vovchenko, G.N. , Andreeva, V.A. , Orobinskiy, S.A. and Filippov, M.Y. 2017. Competitive Advantages of Financial Transactions on the Basis of the Blockchain Technology in Digital Economy. European Research Studies Journal, 20(3B), pp. 193-212.
Vovchenko, N. G., Galazova, S. S., Sopchenko, A. A., &Dzhu, O. S. (2019). FinTech ecosystem as an instrument of sustainable development provision.
Wang, Y., &Zhi, Q. (2016). The role of green finance in environmental protection: Two aspects of market mechanism and policies. Energy Procedia, 104, pp. 311- 316.
World Commission on Environment and Development. Our Common Future; Oxford University Press: London, UK,
Conference on Blockchain Technology (CVCBT), pp. 45-54. IEEE.
Yang, X. (2020). FinTech in Promoting the Development of Green Finance in China against the Background of Big Data and Artificial Intelligence.
Zetzsche, D. A., Buckley, R. P., &Arner, D. W. (2019). FinTech for financial inclusion: driving sustainable growth. Sustainable Development Goals: Harnessing Business to Achieve the SDGs through Finance, Technology, and Law Reform, pp. 177-203.
Zheng, Z., Xie, S., Dai, H. N., Chen, X., & Wang, H. (2018). Blockchain challenges and opportunities: A survey. International Journal of Web and Grid Services, 14(4), pp. 352-375.
Downloads
Published
Issue
Section
License
Copyright (c) 2022 Krishnendu Ghosh
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
