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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
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    References listed on IDEAS

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    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.
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    More about this item

    Keywords

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

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