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Unveiling the relationship of ESG, fintech, green finance, innovation and sustainability: case of Gulf countries

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Abstract

Technological advancement and innovations not only transformed businesses but also optimize numerous functional areas of financial services. Besides, green finance and fintech are also essential tools to achieve sustainable development agendas. Thus, it is imperative to document the evidence that how conducive such factors are to achieve 2030 sustainable development goals. The study, in this regard, is aimed to scrutinize innovation, green finance, financial technologies, and ESG factors altogether in order to determine their effectiveness on sustainable development in Gulf countries in the time span of 2000–2020. The study opts for methods of moments quantile regression (MMQR) and claim that green finance, green innovation, and fintech helps in achieving sustainable development goals. However, among ESG factors, social and governance role is negative in the sampled economies. Findings are interesting for policy makers and government institutions because it assists them to improve governance evaluation system and classification standards so that countries may no longer experience hindrance when indulging in sustainable development actions.

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Funding

The Deanship of Scientific Research at King Khalid University funded this work through Large Groups Project under grant number RGP.2/480/44.

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Authors and Affiliations

  1. College of Commerce and Business, Lusail University, Doha, Qatar

    Raghida Georges Khalil

  2. Department of Mathematics and Physics, College of Engineering, Australian University – Kuwait, West Mishref, Safat, 13015, Kuwait City, Kuwait

    Sadeq Damrah

  3. Department of Accounting, College of Business, King Khalid University, Abha, Saudi Arabia

    Mohammed Bajaher

  4. Management Department, Community College of Qatar, Doha, Qatar

    Fekri Ali Shawtari

Authors
  1. Raghida Georges Khalil
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  2. Sadeq Damrah
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  3. Mohammed Bajaher
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  4. Fekri Ali Shawtari
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Contributions

Sadeq Damrah: conceptualization, writing — original draft. Mohammed Saleh Bajaher: methodology. Fekri Ali Shawtari: software and visualization. Raghida Khalil: supervision, data curation, and editing.

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Correspondence to Raghida Georges Khalil.

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Khalil, R.G., Damrah, S., Bajaher, M. et al. Unveiling the relationship of ESG, fintech, green finance, innovation and sustainability: case of Gulf countries. Environ Sci Pollut Res 30, 116299–116312 (2023). https://doi.org/10.1007/s11356-023-30584-8

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