Fintech's Role in Green Finance: Procuring Funds for Sustainable Energy

Abstract

Green financing is the furthermost significant name for the procurement of sustainable energy projects like renewable energy etc. Green bonds and green insurance are currently the two financing mechanisms for environmental businesses' sustainable procurement. There have been some problems that the issuing companies and the investors have encountered during the green bond procurement process. However, financial technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, blockchain, and robotics are promising solutions for green financing because they have already proven their significance and impact in a variety of fields such as finance and sustainable energy projects. The purpose of this study is to address and analyze the role and significance of fintech technologies in the procurement of greenfinanced sustainable infrastructure, as well as highlight research implications, limitations, and future work. In this study, we have followed inclusion and exclusion of the articles on the basis of key criteria. Following this, we have discussed the perspective of the different existing research on green finance, green bonds, insurance, fintech and sustainability for the sustainable energy procurement. The findings of the study are Fintech based high-level architecture proposed for the procurement process of funds for green financed sustainable energy projects. This study is the first attempt to group information from previously published research about green financing and integration of fintech for the smooth process of procurement of funds for sustainable energy projects.