Can Fintech Development Contribute to Mitigating the Greenhouse Effect? A Global Perspective
基于124个国家2014-2018年数据，研究发现金融科技发展每提高1%可使温室气体排放减少0.546%，其中数字支付效果最显著，对低、中低收入和高收入国家有效，但对中高收入国家不显著。
Fintech leverages blockchain and smart contracts for decentralized economic coordination. Its emerging applications in green finance and supply chain transparency hold promise for mitigating greenhouse gas (GHG) emissions. This study evaluates the global impact of Fintech development on GHG emissions. Based on cross-sectional regressions using data from 124 countries (2014–2018), the study finds that Fintech development significantly reduces GHG emissions—with each 1% increase in the Fintech development level, GHG emissions are reduced by 0.546%. This reduction is significant in low-, lower-middle-, and high-income countries, but not in upper-middle-income countries. Furthermore, the study finds that three components of Fintech activity—equity investments in Fintech companies, usage of Fintech credit, and digital payments—significantly reduce GHG emissions, with digital payments proving the most effective. This research broadens our understanding of Fintech's role in achieving global climate goals, demonstrating its substantial potential for sustainable development. Subgroup analyses further validate Fintech's key function within the Environmental Kuznets Curve (EKC) framework, highlighting how EKC moderates Fintech's emission reduction effects. Overall, these findings provide valuable insights for policymakers, financial institutions, and technology entrepreneurs aiming to mitigate the greenhouse effect through enhanced Fintech development.