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This study explores the transformative potential of blockchain technology in green finance, aiming to assess how it enhances transparency, efficiency, and trust within the sector. Employing a systematic literature review and content analysis, the research scrutinizes peer-reviewed journals, industry reports, and case studies to elucidate blockchain's impact on sustainable financial practices. The methodology focuses on identifying the benefits, challenges, and strategic implications of blockchain applications in green finance, guided by specific inclusion and exclusion criteria to ensure the relevance and quality of the literature analyzed. Key findings reveal that blockchain technology significantly contributes to the transparency and efficiency of green finance mechanisms, such as green bonds and sustainability-linked loans, by providing immutable, transparent, and secure transaction records. This technological integration fosters trust among stakeholders, including investors, regulators, and beneficiaries, and addresses traditional challenges faced by green finance, such as lack of transparency and high transaction costs. The study underscores blockchain's role as a catalyst for change in the future of green finance, advocating for the development of supportive regulatory frameworks and international collaboration to fully harness its potential. Finally, the research offers strategic recommendations for enhancing transparency and trust in green finance through blockchain technology and identifies areas for future research, including the exploration of emerging technologies and the socio-economic implications of blockchain in sustainable finance. This study contributes to the ongoing discourse on leveraging blockchain technology to advance environmental sustainability goals within the financial sector. Keywords: Blockchain Technology, Green Finance, Transparency and Trust, Sustainable Financial Practices.
Udeh et al. (Thu,) studied this question.