Role of Financial Technology and Green Finance on Sustainable Development

Abstract

This study explores the impact of financial technology (FinTech) and green finance on sustainable development. Utilizing a quantitative research design, the research analyzes secondary data from 2012 to 2022, examining the relationship between financial technology, financial inclusion, green finance, and their effects on sustainable development indicators such as carbon emissions and energy efficiency. The methodology includes descriptive statistics, correlation matrix analysis, ANOVA, and regression analysis employing SPSS and E.View software. The results suggest that financial technology and financial inclusion significantly impact sustainable development, primarily through influencing carbon dioxide emissions and energy efficiency. However, green finance showed no substantial effect on sustainable development outcomes. This study contributes to the literature by highlighting the role of financial technology in enhancing sustainable development and suggesting a lack of impact from green finance initiatives. Recommendations for future research include a more detailed examination of different financial technology mechanisms and their direct effects on various sustainability metrics.