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EXPERIENCES OF FINTECH APPLICATIONS IN GREEN FINANCE

FROM VARIOUS COUNTRIES AND LESSONS FOR VIETNAM

169
Nguyen Anh Tu , Tran Anh Tuan
170

Abstract: This study examines the influence of financial technology (Fintech) on the development
of green finance and its potential impact on sustainable economic growth, drawing on global
experiences from Germany, the Netherlands, and China. The paper outlines how these countries have
integrated Fintech into green finance and provides strategic lessons for Vietnam. The findings reveal
that Fintech innovations, such as big data, blockchain, and digital platforms, can significantly improve
green finance by reducing costs, enhancing risk management, and broadening access. We provide
recommendations for Vietnam, emphasizing the need for regulatory frameworks, technological
advancements, and public awareness to promote sustainable financial practices.
Keywords: Green finance, fintech, Vietnam.

1. Introduction
Sustainable development has increasingly garnered global attention due to the
depletion of natural resources, the adverse effects of climate change, and environmental

pollution resulting from economic activities. Currently, facing rising pressures from
regulatory bodies, stakeholders, and consumers regarding the sustainability of economic
practices, there is a growing emphasis on measures such as improving resource
efficiency (Arner et al., 2020), reducing emissions, and mitigating environmental
pollution. Economic activities that do not negatively impact society and the environment
while delivering economic value are considered sustainable. Consequently, both nations

and individual enterprises are actively seeking solutions to achieve and maintain
sustainable operations and growth (Kusi-Sarpong et al., 2022).
Promoting green finance is a crucial solution to address the societal challenges
mentioned above, meet climate action commitments made by countries in accordance
with the Paris Agreement, and achieve the seventeen Sustainable Development Goals
(SDGs) of the United Nations for the current decade, from 2021 to 2030 (Volz, 2018;
Nawaz et al., 2021). The role of technology is pivotal in advancing green finance, as it
fosters innovation within financial services, transforms business efficiency, and

enhances economic development indicators through the collection, processing, and
organization of data from individuals and organizations. This data can include
information on businesses' environmental impact, allowing for the identification of
firms with negative environmental effects. Consequently, this enables the
implementation of corrective measures and facilitates the transition from a traditional
economy to a green economy (Abid et al., 2022).

2. Research methodology
The study employs a comparative analysis methodology to assess global
experiences in Fintech's role in green finance and derive relevant lessons for Vietnam.

169 Faculty of Finance and Banking, Hanoi Open University, Email: tuna@hou.edu.vn
170 Faculty of Finance and Banking, Hanoi Open University
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