Crowdfunding for sustainability: Key elements driving crowdfunding success across economic, social, and environmental goals
• Sustainability objectives influence the configuration of crowdfunding campaigns. • Social crowdfunding enhances values linked to individual and community well-being. • Environmental crowdfunding focuses on risk management and the campaign's green features. • Economic sustainability in crowdfunding relates to stability, inclusion, and risk mitigation. This paper explores how key elements of crowdfunding campaigns contribute to the success of sustainable initiatives in terms of economic, social, and environmental dimensions, synthesizing existing literature on the intersection of crowdfunding and sustainability and identifying elements associated with successful outcomes. Our findings reveal that notable differences emerge in project types, platform roles, and the motivations of backers and initiators across sustainable goals. This research provides practical guidance for enhancing the effectiveness of crowdfunding initiatives aiming to foster sustainable innovation, aligning them with sustainable objectives. It also offers insights to support the development of alternative, sustainability-focused financing strategies.
Authors
- María Carmela Annosi (ORCID: https://orcid.org/0000-0002-3867-9114)
- Federica Brunetta (ORCID: https://orcid.org/0000-0001-9176-4273)
- Levi Orero (ORCID: https://orcid.org/0000-0003-0071-8592)
- Chiara Bartoli (ORCID: https://orcid.org/0000-0003-1640-8273)
Institutions
- SNV Netherlands Development Organisation (NL)
- Libera Università Internazionale degli Studi Sociali Guido Carli (IT)
Publication Details
- Journal
- Finance research letters
- Published
- 2025-04-12
- DOI
- https://doi.org/10.1016/j.frl.2025.107400
- Citations
- 3
- Primary Topic
- FinTech, Crowdfunding, Digital Finance
- Type
- article
- Field-Weighted Citation Impact
- 6.85