Blockchain Papers

Justyna Żywiołek, Radosław Wolniak, Xin Zhao, Mohammad Zoynul Abedin

No abstract is available for this record.

Rismawati Rismawati, Monika Handayani, Ela Elliyana Abdulah, Indra Pahala

Sustainable embedded finance is transforming the financial sector by incorporating green investing strategies into digital platforms. This study examines how embedded finance, fintech innovations, and decentralized financial models enhance access to sustainability-linked financial products. Essential elements encompass the function of AI-driven ESG analytics, blockchain-enabled transparency, and digital payment systems in promoting financial access for environmentally sustainable initiatives. The study analyzes policy frameworks and regulatory obstacles, highlighting the necessity of integrating financial plans with the UN Sustainable Development Goals (SDGs). As embedded finance progresses, it presents novel options for scalable, transparent, and technology-driven sustainable investments. The results underscore the essential interaction among finance, technology, and sustainability, offering guidance for investors, politicians, and enterprises in steering the future of sustainable finance.

Saqib Mehmood, Rudsada Kaewsaeng‐on

The clean energy (CE) industry is rapidly expanding due to improvements in technology, policy objectives, and global interest in sustainable financing. This chapter presents important technological improvements—including energy storage systems, smart grid networks, hydrogen as an energy carrier, and newer renewable sources—which have enhanced the efficiency, reliability, and attractiveness of CE investments. However, the outlook for the CE sector is robust, where the International Energy Agency predicts that by 2025 renewables will lead all net capacity additions across the globe. Furthermore, the expansion of decentralized energy systems and green finance, like green bonds, is set to provide different investment opportunities. Still, some strategic recommendations for investors include developing technological and geographical diversification, having a long-term view, being aware of policy changes, and including environmental, social, and governance (ESG) factors in their investment decisions to achieve sustainability objectives. Investments in CE have economic rewards, but the investments are also good for core social issues of global context in areas like clean energy, combating climate change, and innovative sustainability solutions. Toward the end of the chapter, it is suggested that to sustain continued growth within the CE sector, there has to be a continuous emphasis on technological advancement and active supportive policies, international collaboration, and a focus on inclusivity and resilience in CE initiatives.

EMMANUEL IMUEDE OYASOR

Sub-Saharan Africa remains one of the most climate vulnerable regions globally, yet the conversion of rising inflows into measurable economic resilience has yielded modest and uneven outcomes. This study is set to examine the impact of climate finance on economic resilience in sub-Saharan Africa using a descriptive statistics and trend analysis, drawing on a quantitative secondary data from 2014 to 2024 across five countries including Rwanda, Ghana, Senegal, Nigeria, and Kenya. Visual tools such as charts and graphs illustrate financial trends and sectoral allocations across agriculture, water, energy, and infrastructure. The findings of the study revealed a consistent increase in climate finance over the decade, but this has not resulted in proportional resilience gains due to weak institutional capacity, poor coordination, and sectoral imbalances. Countries with stronger governance systems, such as Rwanda and Ghana, show better resilience outcomes despite receiving comparatively lower funding, emphasizing the importance of institutional quality and policy coherence. The study concludes that climate finance is a catalyst for transformation when embedded in strategic, well governed systems aligned with national development plans. It recommends that governments and international partners prioritize sectoral diversification by channeling finance into underfunded but high impact areas like water infrastructure and decentralized energy, supported by institutional reforms that enhance absorptive capacity and financial accountability.

Madhusudan Narayan, Narendra Kumar, Vishal Kumar Parida, Preeti Kumari

No abstract is available for this record.

Anies Fatmawati, Aylin Yermekova, Andi Fatihah Syahrir, Neva Dian Permana

The rapid expansion of digital assets has created a conflict between technological innovation and environmental, social, and governance (ESG) principles, particularly concerning the energy consumption of legacy consensus mechanisms. This has led to the emergence of "sustainable" cryptocurrencies, raising the critical question of whether the market financially rewards sustainability. This study quantitatively investigates the existence and magnitude of an "ESG premium" in the digital asset market. A quasi-longitudinal study was conducted on a panel dataset of 20 cryptocurrencies (10 sustainable, 10 traditional) from January 1, 2021, to December 31, 2024. A detailed, transparent composite ESG score was developed to measure sustainability. The primary analysis utilized a panel data fixed-effects regression model to assess the relationship between asset prices and ESG scores, controlling for market capitalization, trading volume, market-wide indices, and key technological factors like protocol age, scalability, and developer activity. To address endogeneity and validate causality, we employed models with lagged independent variables. Further robustness checks were performed across bull and bear market sub-periods. A GARCH (1,1) model was used to analyze differences in price volatility. The primary regression model reveals a statistically and economically significant positive relationship between ESG scores and cryptocurrency prices. A 10-point increase in the ESG score is associated with a 4.1% price premium (b=0.0041, p < 0.001), even after controlling for technological modernity. This finding remains robust in models using lagged variables and across different market cycles. GARCH analysis confirms that sustainable cryptocurrencies exhibit significantly lower price volatility. In conclusion, the findings provide strong, robust empirical evidence for a persistent ESG premium in the cryptocurrency market. This suggests that investors price in the perceived long-term viability, reduced risk profile, and ethical alignment of sustainable assets, signaling a maturation of the market where non-financial, sustainability-focused metrics are integral to asset valuation.

Mateo Spaho, Iris Beleraj

This paper investigates the dual impact of Decentralized Finance (DeFi) and smart contracts on European Union (EU) market stability, with a focus on the role of regulation. The research problem centers on understanding how the rapid growth of DeFi interacts with emerging regulatory frameworks to shape financial stability. The purpose is to provide an integrated analysis that combines quantitative data with qualitative legal insights to inform policy. The methodology employs a fixed-effects panel data model to analyze the effect of DeFi market capitalization, smart contract deployments, and transaction volumes on a market stability index across EU member states, while also incorporating a qualitative review of the EU’s regulatory landscape, including the Markets in Crypto-Assets (MiCA) Regulation [1]. Key findings indicate that while DeFi’s growth correlates with increased market volatility, regulatory interventions like MiCA appear to have a stabilizing effect. The paper concludes that a clear and harmonized regulatory framework is crucial for mitigating the risks associated with DeFi while fostering responsible innovation. The relevance of this study lies in its timely contribution to the ongoing policy debate on DeFi regulation and its implications for financial stability in the EU [2].

Tanvi Gulati, Anju Singla, Poonam Saini

Purpose This review systematically examines the convergence of Sustainable Digital Finance and Finance 5.0, highlighting their role in advancing financial sustainability, inclusion, and technological innovation. Finance 5.0 represents a transition from profit-driven finance to a human-centric, ethical, and sustainability-aligned financial ecosystem, where Artificial Intelligence (AI), blockchain, Decentralized Finance (DeFi), quantum computing, and RegTech enhance transparency, Environmental, Social, and Governance (ESG) compliance, and financial accessibility. Design/methodology/approach A Systematic Literature Review (SLR) was conducted using the ADO-TCM framework, which organizes research findings into antecedents, decisions, outcomes, theories, contexts, and methodologies. A structured search strategy was conducted across peer-reviewed literature using Scopus and Web of Science databases (2015–2025). Findings The findings indicate the role of Finance 5.0 in advancing sustainable financial ecosystems through AI-driven ESG analytics, blockchain-powered impact investing, and Digital currency-enabled financial inclusion. However, regulatory fragmentation, ethical AI concerns, and financial accessibility disparities remain significant challenges. The findings emphasize the need for standardized ESG metrics, ethical AI governance, and scalable financial policies to bridge sustainability gaps. Additionally, emerging technologies such as quantum computing, DeFi-driven climate finance, and AI ethics in financial decision-making require further exploration to enhance transparency, efficiency, and sustainability in digital financial ecosystems. Originality/value This review presents a novel framework for technological enablers of Sustainable Digital Finance, integrating Finance 5.0 with emerging technologies using the ADO-TCM framework. It addresses gaps in quantum computing, ethical AI, and DeFi-driven climate finance, offering insights for policymakers, financial institutions, and academia in fostering resilient and sustainability-driven financial ecosystems.

Ki Young Park, Hyuk Jin Ha, Jaemin Ryu

Abstract The role of central banks in advancing sustainable (“green”) digital finance is becoming increasingly significant, positioning them as both facilitators and key actors. This chapter begins by examining how climate-related financial risks may require adjustments to the operational frameworks of central bank policy tools, and highlights recent initiatives undertaken by central banks in response. It then reviews specific cases of sustainable digital finance in the central banking context, including: (1) the BIS’s Project Genesis, which integrates the green bond market and carbon markets through digital technologies; and (2) the collaboration between the Bank of Korea (BOK) and the Korea Exchange (KRX) to explore the application of distributed ledger technology and central bank digital currency (CBDC) in carbon trading.

Danqi Chen, Yicheng Wang, Ahmed Muneeb Mehta, Muhammad Asif · 6 authors

Decentralization has become a central theme in debates on economic growth, governance effectiveness, and sustainable development. This study undertakes a bibliometric analysis of 1,322 articles published between 2005 and 2024, retrieved from the Web of Science (WoS) and Scopus databases. Using VOSviewer and Bibliometrix (R-package), the analysis maps research productivity, collaboration networks, and thematic clusters. The results reveal two dominant clusters: fiscal decentralization and its socio-economic and environmental impacts and determinants of decentralization and economic growth . High-ranked journals such as Sustainability and Environmental Science and Pollution Research emerge as leading outlets, while the most productive countries include the China and United States . The findings highlight underexplored areas such as decentralization’s role in renewable energy transitions and green finance. Framed within fiscal federalism and endogenous growth theory, this study contributes by identifying emerging trends, regional gaps, and policy implications for designing decentralization strategies that foster inclusive and sustainable economic growth. However, as a bibliometric study, it is limited in capturing case-specific or contextual details, which could be addressed in future qualitative or mixed-method research.

Kiruthika Dhanapal, Peter Waher

Objective: This study aims to comprehensively analyze the transformative potential of asset tokenization for Micro, Small, and Medium Enterprises (MSMEs) within the Decentralized Finance (DeFi) ecosystem, with a focus on opportunities, risks, and the hybrid governance architecture required. Research Design & Methods: This study uses a qualitative approach, combining a systematic literature review and case studies with thematic content analysis of secondary data from credible sources to identify patterns and key themes. Findings: Findings show that tokenization of MSME assets offers significant opportunities, such as broader and faster access to funding through fractionalization of ownership, increased asset liquidity, operational efficiency, and enhanced transparency and security. However, this implementation is accompanied by various risks, including smart contract vulnerabilities, cyber attacks, blockchain scalability challenges, regulatory uncertainty, market volatility, and operational risks related to reliance on off-chain third parties. A hybrid governance architecture that integrates on-chain and off-chain elements is essential to mitigate these risks. Implications & Recommendations: This study indicates that tokenization can be an essential bridge for MSMEs to enter the global digital economy, but it requires improved digital literacy and technological readiness. For investors, it offers new diversification opportunities with inherent risks. Policy recommendations include adaptive regulation, simplified compliance, digital education, infrastructure strengthening, utilization of regulatory sandboxes, and cross-sector collaboration and standardization. Contribution & Value Added: This study presents a comprehensive framework for tokenizing MSME assets, offering practical guidance for various stakeholders to promote financial inclusion and equitable economic growth.

Loso Judijanto

The current study undertakes a bibliometric examination to analyze the emerging intersection of green finance and environmental monitoring, two critical areas that are driving the global agenda for sustainability. Based on evidence from the Scopus database and visualization using VOSviewer, the study investigates 20 years of scholarly articles to identify major authors, institutions, countries, and thematic groups. The findings of the research pinpoint a discernible chronological development—early research into pollution detection and environmental monitoring systems giving way to subsequent emphasis on financial tools such as green bonds, sustainable development investments, and decentralized finance. Keyword co-occurrence and overlay visualization show how environmentally pertinent data increasingly is being made part of financial decision-making and policy-making. In addition, the study reveals Chinese, American, Indian, and certain European country regional leadership in terming the story. Findings reveal theoretical and empirical contributions through the convergence of environmental science and financial innovation, as well as discovering limitations towards database scope and metrics by citation. Lastly, the study provides a strategic model for scholars, investors, and policymakers seeking to align environmental intelligence with sustainable finance practice.

Huma Ali, Anam Mubashir

This research investigates how inclusive digital finance affects corporate green technological innovation, environmental decentralization, and how green transformational leadership moderates these relationships. As finance becomes more digitalized, especially in an inclusive manner, it encourages corporations to adopt sustainable practices, such as green technology integration, and to further decentralize their adaptive environmental strategies. This research applies the Resource-Based View (RBV) theory to explore the role of digital finance in promoting organizational green innovations, and the Ability-Motivation-Opportunity (AMO) leadership framework regarding the innovation mediating role of leadership. This study seeks to its address empirical research gaps regarding the role of inclusive digital finance in fostering environmentally sustainable corporate practices from an environmental and financial inclusivity perspective. The anticipated results would inform policy and practice in digital finance as a driver for sustainable corporate green innovations.

Xiyi Shao

With the global emphasis on sustainable development, green finance has emerged as a critical driver for balancing economic growth and environmental protection. Decentralized financial instruments (DeFi), leveraging unique technological advantages and operational mechanisms, are reshaping the traditional risk transfer logic of banks in the green finance sector. This paper explores the core characteristics of decentralized green financial instruments and their applications in green bonds, carbon trading, and other domains. Through a combination of theoretical analysis and case studies, it details how these instruments reconstruct traditional risk transfer pathways, alter risk-sharing models, and influence banks' risk management systems and financial market stability. By providing insights for banks to optimize risk management strategies in the new financial ecosystem, this study highlights the transformative role of decentralized green financial instruments in reshaping the landscape of financial risk management and their promising future developments.

Andrii LYZUN, Iryna Maksymova, Vitalina Kuryliak, Mariia Lyzun · 8 authors

The article investigates the strategic role of FinTech solutions in strengthening business resilience for climate adaptation and mitigation challenges. Based on the analysis of the Green Climate Fund projects, the authors arranged a special database on 57 climate finance projects aimed at enhancing business capacities based on digitalization. The machine learning LDA method was applied to identify key types of FinTech interventions, encompassing areas such as mobile payments, digital lending, tokenization of climate assets, and decentralized innovative finance. Statistical analysis enabled the characterization of relationships between project financing and emission reduction volumes depending on project type, public-private financing sources, regional specificities and technological applications. It systematized the main trends of FinTech integration into climate projects and developed a typology of digital instruments supporting business resilience. As a result, the LDA model provided a conceptual framework for understanding the strategic role of FinTech in enabling businesses to adapt to, mitigate, and thrive amid climate change. Analytical generalizations enabled the delineation of strategic directions for future FinTech development to further strengthen the financial and adaptive capacities of businesses within the context of climate transformation.

Emma Verónica Ramos Farroñán, Gary Christiam Farfán Chilicaus, Luís Edgardo Cruz Salinas, Liliana Correa Rojas · 8 authors

This systematic review synthesizes evidence on economic instruments that mobilize renewable-energy investment in emerging economies, analyzing 50 peer-reviewed studies published between 2015 and 2025 under PRISMA 2020. We advance an Institutional Capacity Integration Framework that ties instrument efficacy to regulatory, market, and coordination capabilities. Green bonds have mobilized roughly USD 500 billion yet work only where robust oversight and liquid markets exist, offering limited gains for decentralized access. Direct subsidies cut renewable electricity costs by 30–50% and connect 45 million people across varied contexts, but pose fiscal–sustainability risks. Carbon pricing schemes remain rare given their administrative complexity, while multilateral climate funds show moderate effectiveness (coefficients 0.3–0.8) dependent on national coordination strength. Bibliometric mapping with Bibliometrix reveals three fragmented paradigms—market efficiency, state intervention, and international cooperation—and highlights geographic gaps: sub-Saharan Africa represents just 16% of studies despite acute financing barriers. Sixty-eight percent of articles employ descriptive designs, constraining causal inference and reflecting tensions between SDG 7 (affordable energy) and SDG 13 (climate action). Our framework rejects one-size-fits-all prescriptions, recommending phased, context-aligned pathways that progressively build capacity. Policymakers should tailor instrument mixes to institutional realities, and researchers must prioritize causal methods and underrepresented regions through focused initiatives for equitable global progress.

Jocelyn Aracelia Kusuma, Meyliana Meyliana, Kevin Deniswara

Innovative solutions are needed to reduce greenhouse gas emissions and promote sustainability in the face of climate change, a global problem. Although carbon markets often face problems such as centralization, lack of transparency, and high costs, they are intended to address these issues. A new way to improve carbon markets is offered by decentralized finance (DeFi) powered by blockchain technologies, such as tokenization and smart contracts. These technologies make carbon credit trading more efficient, transparent, and accessible. In this paper, a Systematic Literature Review (SLR) was used to examine 35 studies published between 2018 and 2024. These results are generated using the Technology-Organization-Environment (TOE) framework, which identifies fifteen critical components that influence the adoption of decentralized finance in carbon markets. Scalability and opaque regulation are issues that need further research, although DeFi may be able to address many of these issues. Additionally, the study highlights the role of decentralized finance in supporting the shift towards a greener economy by promoting sustainability and inclusivity. This study advances the understanding of how decentralized finance can aid carbon reduction efforts and improve the way carbon markets function.

Roshan Kumar, Shakti Kant Sharma, Kriti Kishor, Punam Devi

The swift advancement of technology has transformed numerous sectors, particularly the financial services business, with Decentralised Finance (DeFi) emerging as a notable disruptor. To guarantee the sustained development and integration of DeFi, it is necessary to investigate and comprehend the emerging trends in this field. This study presents a bibliometric analysis of 181 Decentralized Finance articles published from 2010 to 2024 in the Scopus database The data were examined and illustrated utilising the VoS viewer platform and R software, yielding both descriptive and visual insights. Authored by 503 researchers across 418 universities, these works span 129 journals and cite 10,428 references. Publications show an annual growth rate of 29.2 %, with 2024 exhibiting unprecedented output. Frontiers in Blockchain leads with six publications, followed by the Journal of Risk and Financial Management. New Zealand tops the citation rankings, led by Auckland University with 338 citations. Bellavitis C. and Chen Y. are the most prolific authors each with 338 citations. The cluster analysis identifies six thematic areas, offering insights into various aspects of decentralized finance. This study offers critical insights for academics, policymakers, and industry practitioners by mapping DeFi's transition from conventional financial systems to decentralized ecosystems. The findings illuminate research gaps, propose future research avenues, and underscore the necessity of developing policies and cyber hygiene protocols to mitigate the risks of decentralized finance. This work thus serves as a valuable resource for advancing the discourse on DeFi and its implications for financial innovation.

Ashok Sharma, Dr. Ajay Kumar, T. Sathiya Priya

In a time of growing environmental issues and climate change, the drive toward sustainability is more important than ever. Startups and small businesses are expected to be more instrumental in forming a sustainable future as world economies move toward greener paradigms. For many of these businesses, though, the financial load related to sustainable infrastructure, eco-innovation, and clean technology still be a major obstacle. For sustainable businesses trying to bring environmentally friendly ideas to market without sacrificing financial viability, green financing options including grants, subsidies, and green loans provide essential lifelines. Emphasizing the need of access to specific funding resources that support environmentally friendly practices, this abstract investigates the several green financing options open to startups. Examining both public and private sector projects emphasizes how green finance closes the innovation gap with implementation, especially for early-stage businesses trying to scale their green solutions. Grants and subsidies represent among the most well-known sources of green money. Usually governments, international organizations, and environmental NGOs supply these financial support to inspire creativity in fields including waste management, green manufacturing, sustainable agriculture, and renewable energy. Grants are a great choice for startups with limited cash flow since they unlike loans do not demand repayment. Many environmental grantinitiatives to support clean tech development have been started in areas including the European Union, North America, and portions of Asia. As part of the EU's larger goal to reach net-zero emissions by 2050, the European Green Deal, for instance, provides billions in support to sustainable businesses. To lower the initial costs of green investments, numerous local and national governments also provide direct subsidies and tax breaks. These could include financing for research and development of low-carbon technologies, subsidies for fleets of electric vehicles, or rebates for solar panel installations. In addition to fostering the growth of green startups, these policies hasten the market uptake of sustainable goods and services. Green loans have become a powerful instrument for sustainable finance in addition to grants. These are loans specifically designated for environmentally beneficial projects, and they frequently have favorable conditions like reduced interest rates, extended payback periods, or repayment plans that are based on performance. To assist with climate-resilient projects, organizations such as the World Bank, the Green Climate Fund, and several green investment banks provide specialized green loan programs. In order to specifically serve small and medium-sized businesses (SMEs) with environmental missions, some commercial banks have also entered this market by introducing green loan portfolios. Accessing green loans or grants for startups in need of these funds necessitates both a strong business plan and an unambiguous proof of environmental impact. The majority of funding organizations assess applications using standards like energy efficiency, circularity, social sustainability, and carbon footprint reduction. Thus, it is essential to have solid environmental metrics and data to support assertions. Furthermore, obtaining certifications such as B-Corp status or compliance with ESG (Environmental, Social, and Governance) standards can boost one's credibility and chances of getting funding. Additionally, startups now have more opportunities to interact with mission-driven investors who value sustainability in addition to financial returns thanks to the growth of impact investing. Green-minded venture capital firms and angel investors frequently offer seed money to eco-innovative companies, seeking high-growth prospects in line with long-term environmental objectives. Additionally, by reaching out to eco-aware communities, crowdfunding websites such as Kickstarter and Indiegogo are being used to fund green startups. Notwithstanding these encouraging advancements, obstacles still exist. Many startups are not equipped with the knowledge, skills, or resources necessary to successfully negotiate the intricate world of green finance. Grant and loan application procedures may be extremely competitive and cumbersome. Additionally, global scalability is hampered by the uneven distribution of green funding across various regions. Governments, financial institutions, and the private sector must work together more closely to close these gaps in addition to implementing policy changes and raising entrepreneur financial literacy. To address these challenges, startup incubators, accelerators, and advisory organizations are increasingly offering green finance consulting services, helping early-stage companies identify suitable funding options, prepare compelling applications, and build investor-ready sustainability strategies. Digital tools and platforms are also emerging to match green startups with appropriate funding sources, thereby streamlining the connection between innovative ideas and capital. In conclusion, green financing is not merely a niche category of economic support; it is an essential enabler of the global transition toward a more sustainable economy. By making green finance more accessible, equitable, and aligned with the realities of early-stage startups, stakeholders can unlock a wave of innovation that tackles some of the world’ s most pressing environmental issues. Whether through grants, subsidies, green loans, or impact investing, the opportunities for sustainable entrepreneurship have never been more abundant, but seizing them requires a well-informed, strategic, and purpose-driven approach.

Rushil Kalola, Priyank Makwana, Kishan Makadiya

The integration of blockchain technology in carbon credit markets has emerged as a transformative solution to address inefficiencies in traditional trading mechanisms. This paper explores the role of tokenized carbon credits, decentralized trading platforms, and smart contracts in enhancing transparency, trust, and efficiency within voluntary and compliance-based carbon markets. By analyzing various blockchain-enabled carbon credit projects, including KlimaDAO, AirCarbon Exchange, and other decentralized initiatives, this research highlights the advantages of digital s regulatory uncertainty, scalability issues, and market adoption barriers are also examined. The findings suggest that blockchain-based carbon credit systems can significantly reduce fraud, increase liquidity, and support global sustainability goals. However, the success of these innovations depends on the development of standardized frameworks, cross-sector collaboration, and regulatory integration. This study provides insights into the evolving landscape of blockchain-driven carbon markets and proposes strategies for enhancing their effectiveness in combating climate change. tokenization, automated verification and decentralised governance models.

Authors unavailable

Sustainable finance is becoming an essential tool in addressing critical global environmental challenges such as climate change, biodiversity loss, and resource depletion with the youth generation emerging as a central driver for green investment models.The research identifies new participatory financial systems led by youth, which promote sustainable development, particularly in areas such as renewable energy, climate change, and the circular economy.We achieve this by examining the shift in investment patterns in general, as well as the specific trends among rich young entrepreneurs, activists, and technologists.This is carried out through an indepth analysis of grassroots actions, case studies, and decentralized finance (DeFi) models.The article explores new ways of engaging youth in crowdfunding platforms, green bonds, tokenized carbon credits, and venture funds that focus on environmental, social, and governance (ESG) issues, bringing sustainability finance within the reach of all and reducing the entry barrier to green innovation.Furthermore, the study sheds light on the interaction between the benefits of technology and finance, as well as the use of blockchain, AI, and other fintech solutions provided by youth-led platforms to maintain accountability, traceability, and scalability in green investment projects.The paper also examines policy gaps and institutional issues contributing to the inability of young people to access sustainable finance and provides recommendations to facilitate an environment that can foster innovation as well as inclusion in it.The study also identifies young changemakers as key drivers in achieving the United Nations Sustainable Development Goals (SDGs), specifically SDG 13 (Climate Action) and SDG 17 (Partnerships for the Goals), by placing them in perspective not just as recipients of sustainable finance, but as creators of its ecosystems.This piece of work is part of the debate around inclusive green growth and a roadmap in terms of empowering the future generation to live within the context of the sustainable economic model.

Shashi Gupta, Vipin Gupta

Blockchain is seen as an unusual innovative technology. Regardless of the fact that numerous educators have recognized the significance of blockchain, blockchain exploration is still in its infancy stage. As a result, the study looks at the latest research on blockchain, in reference to business and the economy. By in-depth analysis of the literature, we find that blockchain is the most recent phenomenon. The emergence of a paradigm shift in not just the way we think about financial matters but also how we can impact our planet’s future is being driven by the spread of green finance and blockchain technologies. Green finance is a financial system that supports sustainability by funding the power generation sector and encouraging the expansion of clean energy sources. Blockchain is a decentralized database that can be accessed by anyone.

Mukta Arora

Green bonds have rapidly emerged as a transformative financial instrument within sustainable finance, channelling capital toward projects with explicit environmental benefits such as renewable energy, clean infrastructure, and climate adaptation. This paper provides a comprehensive investigation into the growth trajectory and impact of green bonds on sustainable finance, synthesizing evidence from empirical studies, systematic literature reviews, and industry analyses. The findings reveal that green bonds significantly enhance access to funding for environmentally friendly investments and contribute to market stability and transparency by requiring clear reporting and third-party verification of environmental outcomes. The issuance of green bonds is positively associated with factors such as renewable energy capacity and economic growth, while higher interest rates and market saturation in emission reductions can temper issuance growth. Sovereign green bonds, in particular, act as catalysts, fostering the expansion and quality of private green bond markets by setting benchmarks and improving green verification standards. Despite their promise, challenges persist, including risks of green washing and the lack of globally consistent certification standards. The integration of green bonds with innovative technologies such as decentralized finance (DeFi) is also explored as a means to further democratize and enhance the efficiency of sustainable finance. This research offers actionable insights for investors, policymakers, and academics seeking to leverage green bonds for the global transition to a green economy

Muqdad Hanoon Dawood, Hussein Basim Furaijl, Alaa Mohsin Abed, Faez Hlail Srayyih · 9 authors

This research proposes a secure, modular, and scalable blockchain-based framework for real-time ESG performance reporting in sustainable finance by integrating event-driven smart contract automation, decentralized oracle networks, and cryptographic audit layers. Built on permissioned Ethereum infrastructure, the system ingests off-chain sustainability metrics—such as CO2intensity, energy mix ratios, and labor safety KPIs—via Chainlink oracles and secures them using SHA-3 hashing and IPFS-backed anchoring. Evaluation across key ESG domains consistently yielded 100% audit traceability, with average transaction finality of 2.3 seconds and automated compliance accuracy reaching 99.4%. Compared to centralized and semi-automated ESG infrastructures, the proposed system achieved up to 5.7% higher data integrity while reducing manual audit intervention by over 60%. By enabling programmable policy enforcement, high-frequency data validation, and verifiable reporting trails, the architecture significantly advances automation, transparency, and trust in ESG disclosure. Unlike legacy systems prone to lag and unverifiable metrics, this framework supports jurisdiction-agnostic deployment and real-time ESG assurance aligned with evolving global regulatory mandates.