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Sustainable Finance and Fintech: Can Technology Contribute to Achieving Environmental Goals? A Preliminary Assessment of ‘Green Fintech’ and ‘Sustainable Digital Finance’

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  • Macchiavello Eugenia

    (Professor Eugenia Macchiavello (Ph.D., LL.M.; Italian Academic Qualification as Associate Professor in Economic law) is Assistant Professor in Banking Law and Financial Markets Regulation at the University of, Genoa, and Academic Member of the Jean Monnet Centre of Excellence on Sustainable Finance (EUSFiL), Member of the Italian Association of Professors in Economic Law (ADDE) and of the European Banking Institute Associated Researchers Group (ARG). Italy)

  • Siri Michele

    (Professor Michele Siri is Full Professor of Business Law at the University of, Genoa, Jean Monnet Professor in European Union Financial and Insurance Markets Regulation and Director of the Jean Monnet Centre of Excellence on Sustainable Finance (EUSFiL). Italy)

Abstract

The Digital Finance/Fintech Action Plan and the Sustainable Finance Strategy both represent important pillars of the current EU policy agenda. Nonetheless, the two areas have been treated as separate for a long time, while they present certain common features and great potential when combined. In particular, Fintech appears able to respond to some shortcomings in the current sustainable finance framework (e. g. access to retail financing, ESG disclosure, verification and ratings, etc.). The relevance of the link between sustainability, finance and technology has also been evidenced by the COVID-19 pandemic crisis, which has urged all countries to re-think the models traditionally deployed and rely more on technology and sustainability. However, Fintech/digital finance still raises per se relevant technical and legal issues that need to be addressed to fulfil its promises and potential in the sustainable finance sector. The present paper aims at starting a debate about “Green Fintech” in order to effectively connect the two worlds and spur the research in such a new and promising area. Special attention will be also reserved to the recent proposal for a European Single Access Point for corporate financial and non-financial disclosure.

Suggested Citation

  • Macchiavello Eugenia & Siri Michele, 2022. "Sustainable Finance and Fintech: Can Technology Contribute to Achieving Environmental Goals? A Preliminary Assessment of ‘Green Fintech’ and ‘Sustainable Digital Finance’," European Company and Financial Law Review, De Gruyter, vol. 19(1), pages 128-174, February.
    • Handle: RePEc:bpj:eucflr:v:19:y:2022:i:1:p:128-174:n:4
    DOI: 10.1515/ecfr-2022-0005
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