Examining the Convergence of Climate, Finance, and Digital Technology: A Conceptual Review of Climate Fintech

Abstract

The global economy faces significant economic and political risks due to climate change. Climate FinTech has become an essential component in digital transformation as the world has realised the urgency of climate change in protecting the environment. Many financial and non-financial institutions are increasingly collaborating with FinTech companies to develop FinTech projects that can benefit people and the environment. The growing number of climate FinTech companies has helped to facilitate and expedite the global financial sector’s transition toward a more sustainable future and greener world. The main objective of this conceptual paper is to review the past literature to discuss the issues concerning climate FinTech. The study’s findings suggest that climate FinTech is important in helping businesses migrate to more sustainable business models that will better integrate circular economy practices.