Fintech, bigtech credit and CO2 Emission: Implications for environmental sustainability

The excessive use of electricity, particularly driven by the surge in Fintech and Bigtech credit lines as part of the digital revolution, has become a focal point for environmentalists. This concern has resonated within the broader community. Consequently, the stakeholders are reassessing the overall costs and benefits of technological advancements, specifically in Fintech. The focus is on directing efforts toward restoring environmental quality. Considering that technology is seen as a double-edged sword for environmental performance, we examine the non-linear impact of Fintech and Bigtech credit on CO2 emissions across 85 countries over a period from 2013-2019. The results indicate a non-linear relationship between Fintech credit and CO2 emissions. Our study brings forth new insights, revealing a more pronounced inverted U-shaped relationship in developed countries Compared to developing. Crucially, this research underscores the importance for policymakers to encourage the adoption of Fintech to achieve environmental sustainability.