IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-04333883.html
   My bibliography  Save this paper

The Emergence of Green Finance in the Digital Age: Catalyst for a Sustainable and Innovative Economy
[L'émergence de la finance verte à l'ère numérique: Catalyseur d'une économie durable et innovante]

Author

Listed:
  • Marouane Nakhcha

    (laboratoire de recherche en sciences de gestion des organisations - ENCG Kenitra)

  • Mamdouh Tlaty

    (laboratoire de recherche en sciences de gestion des organisations - ENCG Kenitra)

Abstract

This article explores the complex interconnection between digitization, green finance, and economic sustainability, highlighting the transformative potential of digitization for a greener economy. Adopting a rigorous research methodology, we examine the foundations of digitization and green finance, identifying the challenges and opportunities inherent in their convergence. The principles and objectives of green finance, inspired by thinkers such as Zadek and Elkington, are confronted with the advances of digitization. Our theoretical analysis reveals complex synergies between digitization and green finance, highlighting their implications for transparency, market efficiency, impact measurement, investment diversification, and innovation. However, these synergies pose challenges such as data security and regulation, requiring a responsible approach. In examining the challenges of digitizing green finance, we highlight the contributions of renowned researchers such as Rob Bauer, Andreas G. F. Hoepner, and Ioannis Oikonomou. Data privacy and regulatory challenges emerge as significant obstacles to a successful transition to greener, more sustainable finance. Our four-step methodology offers a balanced analysis of technological and regulatory challenges, exploring theoretical perspectives and potential solutions. Experts such as Rob Bauer, Andreas G. F. Hoepner, Ioannis Oikonomou, and Carolyn M. Wilkins offer innovative strategies for overcoming these obstacles, emphasizing the importance of collaboration and proactive regulation. Our article contributes to understanding the relationship between digitization, green finance, and economic sustainability. Although the transition to green digital finance presents challenges, the theoretical recommendations offer promising avenues for a more responsible and innovative economy. Our analysis encourages ongoing reflection and determined action to build a more sustainable future.

Suggested Citation

  • Marouane Nakhcha & Mamdouh Tlaty, 2023. "The Emergence of Green Finance in the Digital Age: Catalyst for a Sustainable and Innovative Economy [L'émergence de la finance verte à l'ère numérique: Catalyseur d'une économie durable et innovan," Post-Print hal-04333883, HAL.
  • Handle: RePEc:hal:journl:hal-04333883
    DOI: 10.5281/zenodo.10318768
    Note: View the original document on HAL open archive server: https://hal.science/hal-04333883
    as

    Download full text from publisher

    File URL: https://hal.science/hal-04333883/document
    Download Restriction: no

    File URL: https://libkey.io/10.5281/zenodo.10318768?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Andreas G.F. Hoepner & Hussain G. Rammal & Michael Rezec, 2011. "Islamic mutual funds’ financial performance and international investment style: evidence from 20 countries," The European Journal of Finance, Taylor & Francis Journals, vol. 17(9-10), pages 829-850, November.
    2. Antony Bugg-Levine & Jed Emerson, 2011. "Impact Investing: Transforming How We Make Money while Making a Difference," Innovations: Technology, Governance, Globalization, MIT Press, vol. 6(3), pages 9-18, July.
    3. Suhejla Hoti & Michael McAleer & Laurent L. Pauwels, 2007. "Measuring Risk In Environmental Finance," Journal of Economic Surveys, Wiley Blackwell, vol. 21(5), pages 970-998, December.
    4. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pirgaip, Burak & Arslan-Ayaydin, Özgür & Karan, Mehmet Baha, 2021. "Do Sukuk provide diversification benefits to conventional bond investors? Evidence from Turkey," Global Finance Journal, Elsevier, vol. 50(C).
    2. Boudt, Kris & Raza, Muhammad Wajid & Wauters, Marjan, 2019. "Evaluating the Shariah-compliance of equity portfolios: The weighting method matters," International Review of Financial Analysis, Elsevier, vol. 63(C), pages 406-417.
    3. Al Ayoubi, Khalil & Enjolras, Geoffroy, 2022. "Does disinvestment from fossil fuels reduce the financial performance of responsible sovereign wealth funds?," Journal of Multinational Financial Management, Elsevier, vol. 64(C).
    4. Emil Andersson & Mahim Hoque & Md Lutfur Rahman & Gazi Salah Uddin & Ranadeva Jayasekera, 2022. "ESG investment: What do we learn from its interaction with stock, currency and commodity markets?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3623-3639, July.
    5. Al-Khazali, Osamah & Mirzaei, Ali, 2017. "Stock market anomalies, market efficiency and the adaptive market hypothesis: Evidence from Islamic stock indices," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 51(C), pages 190-208.
    6. David M. Ritzwoller & Joseph P. Romano, 2019. "Uncertainty in the Hot Hand Fallacy: Detecting Streaky Alternatives to Random Bernoulli Sequences," Papers 1908.01406, arXiv.org, revised Apr 2021.
    7. Shazia Ghani, 2011. "A re-visit to Minsky after 2007 financial meltdown," Post-Print halshs-01027435, HAL.
    8. Steininger, Lea & Hesse, Casimir, 2024. "Buying into new ideas: The ECB’s evolving justification of unlimited liquidity," Department of Economics Working Paper Series 357, WU Vienna University of Economics and Business.
    9. Christiane Goodfellow & Dirk Schiereck & Steffen Wippler, 2013. "Are behavioural finance equity funds a superior investment? A note on fund performance and market efficiency," Journal of Asset Management, Palgrave Macmillan, vol. 14(2), pages 111-119, April.
    10. Cagli, Efe Caglar & Taskin, Dilvin & Evrim Mandaci, Pınar, 2019. "The short- and long-run efficiency of energy, precious metals, and base metals markets: Evidence from the exponential smooth transition autoregressive models," Energy Economics, Elsevier, vol. 84(C).
    11. Andrew Weinbach & Rodney J. Paul, 2009. "National television coverage and the behavioural bias of bettors: the American college football totals market," International Gambling Studies, Taylor & Francis Journals, vol. 9(1), pages 55-66, April.
    12. Plantinga, Andrew J. & Provencher, Bill, 2001. "Internal Consistency In Models Of Optimal Resource Use Under Uncertainty," 2001 Annual meeting, August 5-8, Chicago, IL 20712, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Growitsch Christian & Nepal Rabindra & Stronzik Marcus, 2015. "Price Convergence and Information Efficiency in German Natural Gas Markets," German Economic Review, De Gruyter, vol. 16(1), pages 87-103, February.
    14. Oxelheim, Lars & Rafferty, Michael, 2005. "On the static efficiency of secondary bond markets," Journal of Multinational Financial Management, Elsevier, vol. 15(2), pages 117-135, April.
    15. Baoqiang Zhan & Shu Zhang & Helen S. Du & Xiaoguang Yang, 2022. "Exploring Statistical Arbitrage Opportunities Using Machine Learning Strategy," Computational Economics, Springer;Society for Computational Economics, vol. 60(3), pages 861-882, October.
    16. Shi, Huai-Long & Zhou, Wei-Xing, 2022. "Factor volatility spillover and its implications on factor premia," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).
    17. Gaio, Luiz Eduardo & Stefanelli, Nelson Oliveira & Pimenta, Tabajara & Bonacim, Carlos Alberto Grespan & Gatsios, Rafael Confetti, 2022. "The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market," Finance Research Letters, Elsevier, vol. 50(C).
    18. Anastasios Evgenidis & Stephanos Papadamou, 2021. "The impact of unconventional monetary policy in the euro area. Structural and scenario analysis from a Bayesian VAR," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5684-5703, October.
    19. Nuruddeen Usman & Kodili Nwanneka & Nduka, 2023. "Announcement Effect of COVID-19 on Cryptocurrencies," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 3(3), pages 1-4.
    20. Olayemi O Adu & Blessing O Idakwoji, 2024. "Commodity Market Efficiency - New Evidence From the Russia-Ukraine War," Energy RESEARCH LETTERS, Asia-Pacific Applied Economics Association, vol. 5(2), pages 1-6.

    More about this item

    Keywords

    Innovation; Green Finance; Economic Sustainability; Technological Challenges; Catalyst; Sustainable development;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-04333883. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.