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Regulatory and Legal Framework for Promoting Green Digital Finance

In: Green Digital Finance and Sustainable Development Goals

Author

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  • Vijay Kumar Singh

    (UPES School of Law)

Abstract

“Green digital finance” emerged as a concept out of the potential innovations that technology could offer to the financial system (FinTech) in promoting green initiatives. “Green finance” and “digital finance” have evolved over the years as independent concepts; however, a marriage of these terms to form a cohesive approach on “green digital finance” is new. New technologies like blockchain, artificial intelligence, machine learning, big data, and Internet of things have brought new possibilities in improving financial services in general and ramping up green finance specifically. One of the major challenges faced by green finance initiatives is participation from the private sector. The focus of international organizations is now to bring private sector initiatives and investment into mainstream climate finance. Integration of technology into these initiatives is a pertinent tool. Along with a host of benefits, technology also brings with it a lot of risks and challenges. Banking and financial sector regulators and supervisors face the challenge of aligning existing regulations with the dynamic changes. This chapter explores the evolution of the concept of “green digital finance” and how this is connected to achievement of sustainable development goals. Existing regulations and policy framework on green digital finance, if any, are explored. Regulatory and legal consideration for utilizing digitalization in scaling up green finance are also explored. This chapter provides a discussion of all major concerns relating to the regulation of green digital finance.

Suggested Citation

  • Vijay Kumar Singh, 2022. "Regulatory and Legal Framework for Promoting Green Digital Finance," Economics, Law, and Institutions in Asia Pacific, in: Farhad Taghizadeh-Hesary & Suk Hyun (ed.), Green Digital Finance and Sustainable Development Goals, chapter 0, pages 3-27, Springer.
    • Handle: RePEc:spr:eclchp:978-981-19-2662-4_1
    DOI: 10.1007/978-981-19-2662-4_1
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    Cited by:

    1. Hoda M. Aboalsamh & Laith T. Khrais & Sami A. Albahussain, 2023. "Pioneering Perception of Green Fintech in Promoting Sustainable Digital Services Application within Smart Cities," Sustainability, MDPI, vol. 15(14), pages 1-13, July.

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