Sustainability through green finance: a quantile analysis of Indian manufacturing companies

The aim of the study was to find out impact of green finance on sustainability of Indian manufacturing companies. Using a method of moment quantile regression (MMQR) model and unique data set of 105 manufacturing companies covering the period of 2016–2023. We found that green finance influences sustainability levels from negative to positive across lower to higher quantiles, with values ranging from − 0.96 to 0.94, signifying its effectiveness in improving a company's sustainability. These findings provide practical insights for regulators, investors, and financial institutions to enhance the use of green finance, thereby facilitating the shift to sustainable business practices. This study emphasizes the transformational potential of green finance, contributing to the debate on sustainable development and providing a practical approach for incorporating environmental goals into business structures.