What is Green Innovation

The use of digital financial technologies (DFTs) for green finance has been evolving and has created new risks and challenges for the environment and users. This chapter aims to explore the risks, challenges, and opportunities that are associated with the use of DFTs for green finance. In this chapter, authors used Google Scholar, Scopus, and Web of Science databases as sources for article collection. They initially collected over 245 articles for the period 2000 to 2023 through keyword searches, and their final sample consisted of 183 articles. They applied a thematic analysis and explored four themes (i.e., green innovation; green investment and sustainability; a data-driven approach; and the risks and challenges of using DFTs for green finance). In this chapter, the authors found that the DFTs offer several opportunities for green finance. However, the DFTs also pose several risks and challenges (such as cybercrime, fraud, scams, tax evasion, capital-intensive technologies, a lack of awareness, uncertain policies, and an absence of protection mechanisms) that need to be addressed.