From greenwashing to genuine sustainability: Insights from FinTech and banking executives in emerging market experience

被引:1
作者
Wang, Shuang [1 ]
Shen, Hongmei [2 ]
Zhang, Hao [3 ]
Asif, Muhammad [4 ]
Shahzad, Muhammad Farrukh [5 ]
机构
[1] Zhejiang Wanli Univ, CEEC Res Ctr, CEEC Econ & Trade Res Ctr, Sch Business, Ningbo 315100, Zhejiang, Peoples R China
[2] Liaocheng Univ, Dongchang Coll, Dept Econ Management, Liaocheng 252000, Shandong, Peoples R China
[3] Zhejiang Shuren Univ, Sch Management, Hangzhou 310015, Zhejiang, Peoples R China
[4] Univ Educ, UE Business Sch, Lahore, Pakistan
[5] Beijing Univ Technol, Dept Econ & Management, Beijing 100124, Peoples R China
关键词
Greenwashing; Sustainability; FinTech; Banking; Qualitative study;
D O I
10.1016/j.jenvman.2024.123690
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
Greenwashing is the practice of deceiving stakeholders by making inflated or fraudulent promises about environmental responsibility. This study investigates greenwashing challenges in FinTech and banking industries, identifying effective strategies to foster genuine sustainability. The study employs a qualitative methodology, utilizing semi-structured interviews conducted with 12 respondents from the FinTech and banking sectors in Pakistan. This approach allows for an in-depth exploration of executives' perspectives on the transition from greenwashing to genuine sustainability practices, with data analyzed using thematic analysis through NVivo 14. The findings reveal significant challenges like stakeholder distrust, regulatory compliance issues, market confusion, misalignment of goals, competitive disadvantages, and reputational risk with effective strategies, including stakeholder engagement, third-party verification, collaboration, innovative technologies, internal training, and enhanced risk management. This study provides a comprehensive framework integrating challenges and strategies for combating greenwashing in FinTech and banking, offering new insights and practical solutions for fostering genuine sustainability in financial services.
引用
收藏
页数:11
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