Fintech for Good: Governance Mechanisms for Sustainable Development

CIGI Paper No. 257

September 7, 2021

Financial technology (fintech) for good can help to achieve sustainable development through environmental, social and governance investing, and through financial inclusion initiatives to address the needs of underbanked and unbanked individuals. Although the COVID-19 pandemic has necessitated greater dependence on digital banking technologies, the lack of cohesive governance and regulatory mechanisms around fintech in Canada and abroad is an obstacle toward achieving the UN Sustainable Development Goals. The authors of this paper argue that better governance and regulatory frameworks are needed to minimize the risks associated with fintech for good while maximizing its benefits.

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About the Authors

Sep Pashang completed his M.A. in management information systems at York University and is currently a Ph.D. candidate in the School of Environment, Enterprise and Development at the University of Waterloo.

Olaf Weber is a CIGI senior fellow and an expert on sustainability and the banking sector. He is currently a professor in the School of Environment, Enterprise and Development at the University of Waterloo and a University of Waterloo Research Chair in Sustainable Finance.