Impact of FinTech on Green Finance and Environmental Performance in the GCC
摘要
The financial technology (FinTech) upheaval and sustainable development necessities have recently taken an unbelievable turn in the (GCC) nations. This paper deals with the issues of sustainable development and diversification of the economy for FinTech, Green Finance, and natural outcomes for the GCC. FinTech can transform the usual Green Finance procedures in the conventional banking sector and give impetus to sustainable development. Since the GCC faces two serious challenges: environmental degradation and economic reliance on the oil and gas sector, this study highlights that FinTech can significantly replace conventional banking models through qualitative research design comprising case studies and in-depth interviews. It investigates how FinTech impacts Green Finance. This study is centered on the appraisal of FinTech solutions, their applicability in the promotion of sustainable practices, and the identification of changes in environmental performance indices as a result of implementing those technologies, demonstrating the synergic relationship between FinTech and Green Finance and showing how these two sectors encourage green behavior and green investment. The study provided implicative perspectives into the new mechanisms of FinTech. These findings help the GCC make sound decisions that are needed for sustainable development. The findings are predicted to be enough to help the financial institutions, decision-makers, and environmentalists make the region’s future grow economically and ecologically. The study thus fills the gap in the knowledge about how green financial activities can be reshaped with the help of FinTech in the GCC countries. They highlight the changes at the intersection of environmental sustainability, technology, and finance.