Developing a Sustainable Framework for Bank Financial Development Based on Artificial Intelligence and Green Finance
Keywords:
Sustainable financial development, bank financing, artificial intelligence, green financingAbstract
The study aims to design a sustainable framework for bank financial development using artificial intelligence and green finance. This qualitative research applied Braun and Clarke’s thematic analysis. The statistical population consisted of 22 purposively selected bank managers and experts. Data were collected through semi-structured interviews and analyzed using MAXQDA software. The analysis identified 90 initial codes, 15 first-level themes, and 4 second-level themes. The results highlighted a framework in which green financial instruments such as green bonds, modern financial technologies like artificial intelligence and blockchain, smart risk management, and enhanced transparency in reporting emerged as the core elements of sustainable bank financial development. The proposed framework provides banks with a clear pathway to enhance transparency, reduce financial and environmental risks, and support green projects. Ultimately, implementing this model can improve banks’ economic and social performance while contributing to sustainable development goals and environmental protection.
Downloads
References
Amidjaya, P. G., & Widagdo, A. K. (2020). Sustainability reporting in Indonesian listed banks: Do corporate governance, ownership structure and digital banking matter? J Appl Account Res, 21, 231-247. https://doi.org/10.1108/JAAR-09-2018-0149
Aras, G., Tezcan, N., & Furtuna, O. K. (2018). Multidimensional comprehensive corporate sustainability performance evaluation model: Evidence from an emerging market banking sector. Journal of Cleaner Production, 185, 600-609. https://doi.org/10.1016/j.jclepro.2018.01.175
Berensmann, K., Volz, U., & Bak, C. (2020). Fostering Sustainable Global Growth Through Green Finance - What Role for The G20? , 1-8. https://collaboration.worldbank.org/content/usergenerated/asi/cloud/attachments/sites/collaboration-for-development/en/groups/green-finance-community-of-practice/documents/jcr:content/content/primary/blog/green_finance_educat-LVNC/Climate_Green-Finance_V2.pdf
Chang, L., & Hersay, F. (2023). Role of artificial intelligence on green economic development: Joint determinates of natural resources and green total factor productivity. Resources Policy, 23. https://www.sciencedirect.com/science/article/pii/S0301420723002167
Chang, L., Moldir, M., & Zhang, Y. (2023). Asymmetric impact of green bonds on energy efficiency: Fresh evidence from quantile estimation. Utilities Policy, 80. https://www.sciencedirect.com/science/article/pii/S0957178722001382
Dikau, S., & Volz, U. (2021). Central bank mandates, sustainability objectives and the promotion of green finance. Ecol Econ, 184, 107022. https://doi.org/10.1016/j.ecolecon.2021.107022
Dörry, S., & Schulz, C. (2018). Green financing, interrupted. Potential directions for sustainable finance in Luxembourg. Local Environ, 23, 717-733. https://doi.org/10.1080/13549839.2018.1428792
Feng, J., Yu, C., & Xufeng, W. (2024). Untying the nexus between environmental information disclosure, green finance, and green technological innovation: a multi-analytical (SEM-ANN) approach. Sec. Environmental Economics and Management, 12. https://www.frontiersin.org/articles/10.3389/fenvs.2024.1360901/full
Giudici, P. (2018). Fintech Risk Management: A Research Challenge for Artificial Intelligence in Finance. Frontiers in Artif Intell, 1, 1. https://doi.org/10.3389/frai.2018.00001
Giudici, P., Hadji-Misheva, B., & Spelta, A. (2020). Network based credit risk models. Qual Eng, 32, 199-211. https://doi.org/10.1080/08982112.2019.1655159
Jafari Gorji, M. A., Najafi Beigi, R., & Faqihi, A. (2023). Proposal of a Sustainable Banking Development Model in Iranian State Banks with an Emphasis on Green Banking. Management and Planning, 55, 21-45. https://sanad.iau.ir/fa/Journal/DownloadFile/820616
Jafari Gorji, M. A., Najafi Beigi, R., Faqihi, A., & Kamali, M. J. (2023). Pathology and Proposal of a Sustainable Development Model in Iranian State Banks. https://journals.iau.ir/article_707991.html
Karimi, H. R., & Mohammadi, P. (2022). Sustainable Financial Model for Social Banks. Financial Research, 24(4), 480-504. https://jfr.ut.ac.ir/article_90697.html
Khazaei, H., Faizi Razi, F., & Vaqil al-Raya, Y. (2022). Model for the Adoption of New Financial and Banking Technologies. Strategic Management Studies Quarterly, 13(50), 289-306. https://www.smsjournal.ir/article_119512.html
Kordnouri, A. H., Adalatiyan Shahriari, J., Azizi, M., & Kabaranzadeh Ghadim, M. R. (2020). Designing a Conceptual Business Model in Development Banks with an International Entrepreneurship Approach. Financial Economics Quarterly, 14(53), 172-157. https://journals.iau.ir/article_682974.html
Kuang, M., Kuang, D., & Rasool, Z. (2024). From bytes to sustainability: Asymmetric nexus between industrial artificial intelligence and green finance in advanced industrial AI nations. Borsa Istanbul Review, 5, 886-897. https://doi.org/10.1016/j.bir.2024.03.010
Kumar, A., Srivastava, A., & Gupta, P. K. (2022). Banking 4.0: the era of artificial intelligence‐based fintech. Strat. Change, 31(6), 591-601. https://doi.org/10.1002/jsc.2526
Lindenberg, N. (2014). Definition of Green Finance. 3. https://scholar.archive.org/work/tgtjvkykqrfkpek5wcyvtlauue/access/wayback/https://www.die-gdi.de/uploads/media/Lindenberg_Definition_green_finance.pdf
Liu, N., Liu, C., & Xia, Y. (2020). Examining the coordination between green finance and green economy aiming for sustainable development: A case study of China. Sustainability (Switzerland), 12. https://www.mdpi.com/2071-1050/12/9/3717
Liu, R., Wang, D., & Zhang, L. (2019). Can green financial development promote regional ecological efficiency? A case study of China. Nat Hazards, 95, 325-341. https://doi.org/10.1007/s11069-018-3502-x
Mahmoudi Alashti, R., Jalali Atashgah, H., & Iyuzi, A. (2024). Application of Artificial Intelligence in Central Banking: Impacts and Results of AI Utilization in Central Banks. Sixth International Conference on Key Research in Management, Accounting, Banking, and Economics, Mashhad. https://civilica.com/doc/2058788/
Mohammed, K., Serret, V., & Jabour, S. (2024). The role of artificial intelligence and fintech in promoting eco-friendly investments and non-greenwashing practices in the US market. Journal of Environmental Management, 359. https://www.sciencedirect.com/science/article/pii/S0301479724009630
Najafi Beigi, R. (2018). A Perspective on Sustainable Development Management and Development in Iran. Termeh. https://agahbookshop.com/
Ravan Ramzani, S., Konhaeusner, P., Olaniregun, O. A., Abu-Alkheil, A., & Alsharari, N. (2024). Integrating AI-Driven Green Finance Strategies for Sustainable Development: A Comparative Analysis of Renewable Energy Investments in Germany and Denmark. European Journal of Business and Management Research, 9(2), 43-55. https://doi.org/10.24018/ejbmr.2024.9.2.2277
Riani, R. (2023). Artificial Intelligence (AI) in the Financial Sector. Digital Economics Review, 1(1). https://pdfs.semanticscholar.org/0763/eba9a95f5b6bef3105e58526fe44600feeb6.pdf
Saberian Jahromi, A. (2024). Investigating the Impact of Artificial Intelligence in the Banking Sector. Ninth International Conference on Management, Economics, and Industry-oriented Accounting Studies, Tehran. https://civilica.com/doc/2037732/
Sanchez-Roger, M., Oliver-Alfonso, M. D., & Sanchís-Pedregosa, C. (2018). Bail-In: A sustainable mechanism for rescuing banks. Sustainability (Switzerland), 10, 3789. https://doi.org/10.3390/su10103789
Schäfer, H. (2018). Germany: The 'greenhorn' in the green finance revolution. Environment, 60, 19-27. https://doi.org/10.1080/00139157.2018.1397472
Sheikh, A. A., Saidi, P., Abasi, E., & Nadrian, A. (2023). Presentation and Analysis of a Green Financing Model for Companies through the Banking Industry in Support of Sustainable Environmental Establishment. Financial Economics, 1(58), 215-232. https://sid.ir/paper/958404/fa
Urban, M. A., & Wójcik, D. (2019). Dirty banking: Probing the gap in sustainable finance. Sustainability (Switzerland), 11, 1745. https://doi.org/10.3390/su11061745
Yuan, F., & Gallagher, K. P. (2018). Greening Development Lending in the Americas: Trends and Determinants. Ecol Econ, 154, 189-200. https://doi.org/10.1016/j.ecolecon.2018.07.009
Zhang, X., Wang, Z., Zhong, X., Yang, S., & Siddik, A. (2022). Do Green Banking Activities Improve the Banks' Environmental Performance? The Mediating Effect of Green Financing. Sustainability, 14, 989. https://doi.org/10.3390/su14020989
Ziolo, M., Filipiak, B. Z., & Bak, I. (2019). How to design more sustainable financial systems: The roles of environmental, social, and governance factors in the decision-making process. Sustainability (Switzerland), 11, 5604. https://doi.org/10.3390/su11205604
Downloads
Published
Submitted
Revised
Accepted
Issue
Section
License
Copyright (c) 2025 سید مهدی رضائی زاد, رویا دارابی, علی باغانی (نویسنده)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
