GREEN FINTECH IN THE DEVELOPMENT OF SOCIALLY RESPONSIBLE BUSINESS
Abstract
The article analyzes the global development of Green FinTech, identifies its role in achieving sustainable development goals and proposes a classification of its main areas, namely: 1) the use of FinTech in image and charitable eco-projects; 2) FinTech solutions in green investing; 3) infrastructure projects and management of Green FinTech. The first area of Green FinTech is characterized by the absence of a direct financial reward for the investor (donor) and is aimed at achieving positive environmental effects in the form of reducing carbon dioxide emissions, decreasing the use of plastic, increasing green space on the planet and more. The goals of this area are achieved by financial intermediaries and FinTech companies using various tools: contribution of a fraction of companies’ revenues to fund frontier carbon removal technologies (e.g., Stripe), wooden debit cards (e.g., TreeCard), rounding of transaction amounts and transfer of the difference to the financing of tree planting (e.g., Aspiration Zero). The second area (green investing) aims to make a profit for the investor, but the choice of projects is based on their compliance with sustainable development goals. Investor involvement in green investing based on FinTech can vary from providing funds (e.g., Atmos) to self-selecting of investment projects (e.g., Raise Green, Trine). The third area includes FinTech solutions and technologies used to create a green digital financial infrastructure: online platforms (microgrid peer-to-peer energy platforms, e.g., Vandebron, Piclo; online platforms for facilitating renewable energy transactions, e.g., Blueyellow), blockchain, artificial intelligence, etc. (Treelion, Doconomy). The flexibility and adaptability of the FinTech segment allows to extend successful technological developments to other areas. FinTech demonstrates significant potential in terms of its application in green finance and socially responsible business. The results of practical application of Green FinTech show its importance in building an ecological model of the economy based on sustainable development.
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Remove carbon as you grow your business. Stripe Climate. URL: https://stripe.com/en-pl/climate
Renewable energy transactions are going digital. Blueyellow. URL: https://www.blueyellow.com/
Smarter banking reverses global warming. Atmos Financial. URL: https://www.joinatmos.com/
TreeCard. URL: https://www.treecard.org/
Trine. URL: https://trine.com/
Treelion beyond Gren. URL: https://treelion.com/index_en.html
You can change Climate Change. Aspiration. URL: https://www.aspiration.com/
