Does Fintech Foster the Development of Green Finance?

Financial technology is of crucial significance in economic and financial advancement. Against the backdrop of promoting green economic growth, the question arises: What is Fintech's role in driving green finance? This paper examines the impact of Fintech on green finance by analyzing panel data from 30 provinces in China for the period 2011–2021. The findings reveal that (1) Fintech facilitates the development of green finance; (2) financial efficiency and green innovation are significant channels through which Fintech promotes green finance; and (3) there is heterogeneity in Fintech's impact on green finance across different levels of financial development. Specifically, the influence of Fintech on green finance is more pronounced in regions with higher levels of financial development.