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Advancing sustainable financial management in greening companies through big data technology innovation

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Abstract

Incorporating sustainability into financial management procedures has emerged as a critical component in the modern business landscape for organizations looking to strengthen their environmental stewardship while guaranteeing financial viability. The study “Advancing Sustainable Financial Management in Greening Companies through Big Data Technology Innovation” explains the crucial role that big data technologies play in empowering businesses to incorporate environmental sustainability into their financial management strategies. The research the strong link between big data analytics and the optimization of sustainable financial management in businesses from year 1990 to 2022. The study’s findings show that big data analytics enables firms to make data-driven decisions, significantly increasing the effectiveness of their sustainability activities. With the enormous amounts of data that big data technologies can analyze, businesses can access actionable insights that make it easier to identify and reduce environmental impacts, use resources more efficiently, and streamline supply chains to support sustainability. To emphasizes the businesses can match their financial goals with sustainability objectives through big data technology without sacrificing profitability. Big data analytics may help businesses assess environmental risks and find possibilities for sustainable investment, enabling them to make well-informed financial decisions consistent with their commitment to environmental stewardship. The conclusion emphasizes the businesses to adopt big data technology focusing on long-term financial management strategically. The growing environmental problems that endanger the world's ecosystems underscore even more how crucial it is to include these advancements. Therefore, integrating sustainability into financial management using big data technology is not just a choice but a requirement for businesses to succeed in this century. The study demonstrated that the businesses, decision-makers, and other stakeholders to understand and use big data technologies’ potential to advance sustainable financial management and build more resilient and sustainable corporate environments.

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Authors and Affiliations

  1. School of Accounting and Finance,Shijiazhuang Vocational College of Finance and Economics, Shijiazhuang, 050000, Hebei, China

    Xueyan Wang & Yingying Zhai

  2. Department of Law and Economic Trade, Hebei Vocational College of Labour Relations, Shijiazhuang, 050000, Hebei, China

    Xiaoli Wang

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  1. Xueyan Wang
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  2. Xiaoli Wang
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Xueyan Wang; Conceptualization, Data curation, Xiaoli Wang; Methodology, Writing-original draft, Yingying Zhai; Data curation, Visualization.

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Correspondence to Xiaoli Wang.

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Responsible Editor: Arshian Sharif

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Fig. 2
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Graph shows the correlation of the variables

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Wang, X., Wang, X. & Zhai, Y. Advancing sustainable financial management in greening companies through big data technology innovation. Environ Sci Pollut Res 31, 5641–5654 (2024). https://doi.org/10.1007/s11356-023-30950-6

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