Greenwashing within the context of financial technology and sustainable development: Conceptual frameworks and theoretical perspectives
Authors
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Tipon Tanchangya
Department of Finance, University of Chittagong, Chittagong 4331, Bangladesh.
https://orcid.org/0009-0009-2365-4959
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Asif Raihan
Institute of Climate Change, Universiti Kebangsaan Malaysia, Bangi 43600, Malaysia.
https://orcid.org/0000-0001-9757-9730
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Md Rakib Mia
3Department of Business Administration, Ahsanullah University of Science and Technology, Dhaka -1212 Bangladesh.
https://orcid.org/0009-0004-7267-9515
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Ummah Tafsirun
Department of Business Administration, Noakhali Science & Technology University, Noakhali-3814, Bangladesh.
https://orcid.org/0009-0005-5373-4619
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Kamron Naher
Department of Business, Presidency University, Dhaka-1212, Bangladesh.
https://orcid.org/0009-0001-9663-5427
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Naimul Islam
Department of Accounting, Finance and Economics, University of Greenwich, London SE10 9LS, UK.
https://orcid.org/0009-0005-7001-1770
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Fahad Rashid
7Centre for Islamic Finance, University of Bolton, Bolton BL3 5AB, UK.
https://orcid.org/0009-0001-2482-3808
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Shoaibur Rahman Sarker
School of Business and Law, Northumbria University, 110-114 Middlesex Street, E1 7HT, London, UK.
https://orcid.org/0009-0000-4196-682X
DOI:
https://doi.org/10.18488/89.v11i1.4076Abstract
The study aims to explore the greenwashing phenomenon in the context of FinTech and sustainable development and analyze the conceptual frameworks and theoretical perspectives that connect greenwashing, FinTech, and sustainable development. A qualitative approach was employed in this research, which was primarily based on secondary data. The findings show that FinTech significantly contributes to sustainability by promoting environmental conservation, economic growth, and financial inclusion across various SDG domains. Additionally, the theoretical perspectives examine key theories (stakeholder theory, legitimacy theory, signaling theory, and institutional theory) and highlight how greenwashing practices might influence the FinTech sector. Furthermore, this study draws attention to the potential economic, social, and environmental impact of greenwashing on FinTech. Finally, the study offers valuable insights for strategy formulation to prevent companies from making misleading environmental claims. Above all, the present study makes a substantial contribution to the ongoing debate regarding the links between greenwashing, FinTech, and sustainable development.
