The role of green finance to achieve sustainability through green supply chain management and innovative technologies

Abstract

This study investigates the impact of green finance (GF) on sustainable development and green supply chains, particularly in the context of the COVID-19 pandemic. It explores how GF influences firms' economic, environmental, and social sustainability, with a focus on the moderating effects of modern technologies like big data analytics (BDA) and blockchain. The research is based on data collected from 562 managers in Egypt's industrial and manufacturing sectors through a survey conducted between November 18th, 2023, and January 12th, 2024. The survey, which used a five-point Likert scale, was distributed via both traditional and electronic methods, and its reliability was ensured through a pilot phase involving seven academics and five SC practitioners. The data was analyzed using partial least squares structural equation modeling, chosen for its effectiveness with non-normal data distributions. The Bootstrapping method with 5000 iterations was employed to validate the model. The findings reveal that GF significantly enhances green supply chain management (GSCM), particularly when moderated by BDA, though blockchain technology does not have a significant moderating effect. Additionally, GSCM is found to positively influence the environmental and social dimensions of sustainable development, mediating the relationship between GF and these sustainability outcomes. This study provides valuable insights for practitioners and policymakers, emphasizing the critical role of GF and BDA in fostering sustainable development, especially within the Egyptian industrial and manufacturing sectors.