Effect of FinTech and Energy Consumption in G-20 Countries: Evidence From Carbon Emission, Ecological Footprint, and Load Capacity Factor

This study investigates the interplay between FinTech, energy consumption, and environmental sustainability among G-20 countries from 2005 to 2022 using a Panel-VAR approach. The findings reveal that FinTech has a notable positive influence on environmental outcomes, non-fossil fuel energy use, and economic growth, while its impact on fossil fuel consumption is negative. Additionally, increased fossil fuel usage contributes to higher carbon emissions, whereas greater adoption of non-fossil fuel energy helps reduce emissions. Changes in the ecological footprint and load capacity factor are comparatively less pronounced. The research highlights the potential of FinTech platforms to foster green practices and support the adoption of cleaner technologies, suggesting that digital innovation can play a key role in advancing environmental sustainability within major economies.