The Role of Green Finance in Promoting Sustainable Development Goals (SDGs) Through the Mediation Effect of Green Technology Innovation

Abstract

Nations are confronted with a significant challenge in attaining the Sustainable Development Goals (SDGs). Achieving the SDGs pertaining to social sustainability, economic sustainability, and environmental sustainability poses the greatest challenge due to various interconnected factors. The present study investigates the influence of green finance on sustainable infrastructure, innovation in green technology, corporate social responsibility, economic stability, and environmental conservation within the framework of Belt and Road initiative (BRI) funding, particularly focusing on its application in the China-Pakistan Economic Corridor (CPEC) initiatives. A questionnaire served as the primary instrument for data collection. The study gathered data from a diverse sample comprising businessmen, CPEC officials, representatives from the Ministry of Finance, Pakistan Environmental Protection Agency, Ministry of Planning and Development. In this study, the PLS 4 was employed to examine associations and test hypotheses. The findings suggest a significant impact of green finance on both sustainable infrastructure and green technology innovation. Furthermore, the results underscore the vital role of environmentally friendly technology and sustainable infrastructure in advancing the SDGs across social, economic, and environmental dimensions. The study's results can help policymakers in other countries collaborate on similar projects to boost economic growth and environmental sustainability. This involves integrating green technologies, sustainable infrastructure, and green finance practices.