Sustainable development supported by responsible and digital Finance: Reality or sustainable illusion
Abstract
In this paper, we will explore the relationship between digital banking, responsible Finance and sustainable development. We will review the concept of sustainable development briefly shedding light on its theoretical background (history and definition), its three pillars and some limits and issues related to the concept. In addition, we will try to emphasize the correlation between sustainable development and the new digital financial players, namely Fintech who are providing Digital Financial Services (DFS) through digital channels. Some definitions of DFS and Fintech are given in order to provide a clear idea about those concepts for a better understanding of their ecological impact. Indeed, this correlation is seamlessly supported by a high-paced digitization of the banking and financial industry. The overall purpose of this article is to highlight how those new digital players (Fintech) and responsible Finance (Green bonds and ecological credit cards) can contribute to the endorsement and the enhancement of sustainable development for a better social inclusion, more equity and green friendly initiatives for economic growth.