English Abstract
Abstract:
Environmentalists' attention has shifted in the modern era from climate quality to fintech
advancements and cryptocurrency mining, which have both increased electricity consumption. Further
exploration of fintech advancements is necessary to assess their cost and benefits in order to enhance policymaking and regulatory reform efforts aimed at mitigating climate change. The current literature presents
conflicting findings regarding the impact of fintech on environmental quality. Therefore, it is necessary to
examine the actual role of fintech innovations in relation to climate quality. This study aims to examine the
impact of fintech development on reducing greenhouse gas emissions in selected Asian economies, with the
goal of achieving net zero carbon economies. The selection of Asian countries was based on their respective
income levels. Our analysis, utilising OLS, 2SLS, and GMM econometric models, reveals a negative
relationship between fintech developments and innovations and greenhouse gas emissions. Our findings
demonstrate robustness, as we observe consistent outcomes even after controlling for relevant variables and
addressing endogeneity concerns. The findings provide valuable insights for governments and policymakers
in formulating effective policies to improve environmental quality through the use of fintech advancements.
