Tracks > Track 16: Social and Green Innovation in Sustainable Finance: Rethinking the Future of InvestmentSocial and Green Innovation in Sustainable Finance: Rethinking the Future of InvestmentDescription of the theme: Social innovation and green innovation are two essential elements of the sustainable finance puzzle, influencing both investing strategies and the allocation of capital. Social innovation covers both corporate social responsibility, which includes a range of actions that firms are required to do in order to enhance the well-being of society and the community, and innovation efforts that firms need to pursue to maintain their competitive position in the market. Social innovation, therefore, refers to the innovative practices and tools designed and adopted by companies to address social needs and solve a problem of public interest, where the value generated is distributed in society and empowers (Cobo-Gómez, 2024; Solis-Navarrete et al., 2021). It includes investing in research and development to invent new innovative tools or products, or adopting new technologies or creative services and models in their operational activities(Moussavou, 2022). Particularly, crowdfunding platforms, social enterprises, and participatory grant-making, among others, are prominent examples of social innovation (Spanuth & Urbano, 2024). Green innovation, likewise, plays a central role in a country’s sustainable development by protecting the environment(Sova et al., 2024). It focuses on environmentally oriented solutions, such as energy-efficient technologies, pollution reduction tools, and sustainable production processes. Nevertheless, studies on social and green innovation are still in their early stages, particularly with regard to financial implications. This track mainly examines the intersection of social innovation and green innovation within the evolving field of sustainable finance, with a particular focus on how these innovations could impact investment strategies. Indeed, sustainable finance could be considered one of the main outcomes of social innovation and green innovation, as it mobilizes financial resources to support initiatives that generate both social and environmental benefits, mainly in renewable energy, sanitation, agriculture, and education fields (Gonzalez‐Ruiz et al., 2024). Given these developments, it has therefore become necessary to align social and green innovation with the growing trend towards sustainable finance (Nassani et al., 2021). With the overt goal of increasing transparency and promoting investment in social responsibility practices and green innovation, several initiatives have been introduced(Gressieux & Meunier, 2024). Among them is crowdfunding, a new innovative mechanism for social impact investing(Lehner & Nicholls, 2014) that enables entrepreneurs to fund their ventures by drawing on relatively small contributions from a large number of individuals(Ed-Dafali et al., 2025; Vismara & Wirtz, 2025). Impact investing funds, including venture capital initiatives, have also gained prominence(Benkraiem et al., 2021; Shan, 2025). These funds direct capital toward projects and firms that generate measurable social or environmental benefits alongside financial returns. All these instruments together help to expand sustainable finance and give investors different ways to support social innovation and the green transition, thereby contributing to the broader vision of rethinking the future of investment. Nevertheless, although there is growing interest in social innovation, green innovation, and sustainable finance, the literature does not provide a clear picture of how these two domains of innovation can enhance sustainable financial practices and investment behavior. We are looking at a multidisciplinary approach to sustainable finance and innovative investing models and welcome submissions of papers that address topics such as green innovation, social innovation, impact investing, crowdfunding, innovative finance, entrepreneurial finance and sustainable entrepreneurship.
Our topics of interest include but are not limited to:
Track chairs: Dr. Souad BRINETTE, OCRE Research Lab, EDC Paris Business School, France, souad.brinette@edcparis.edu Dr. Slimane ED-DAFALI, ENCG, Chouaib Doukkali University, El Jadida, Morocco, ed-dafali.s@ucd.ac.ma Dr Marinette KAMAHA NJIWA,OCRE Research Lab, EDC Paris Business School, France, mkamaha@edcparis.edu References: Benkraiem, R., Boubaker, S., Brinette, S., & Khemiri, S. (2021). Board feminization and innovation through corporate venture capital investments : The moderating effects of independence and management skills. Technological Forecasting and Social Change, 163, 120467. https://doi.org/10.1016/j.techfore.2020.120467 Cobo-Gómez, J. C. (2024). Social innovation in university-community partnerships in Latin America : Exploring collaborative models. Sustainable Technology and Entrepreneurship, 3(2), 100061. https://doi.org/10.1016/j.stae.2023.100061 Ed-Dafali, S., Patel, R., & Paltrinieri, A. (2025). Factors influencing the success and failure of crowdfunding campaigns : A systematic review and bibliometric analysis. Venture Capital, 1‑66. https://doi.org/10.1080/13691066.2025.2451853 Gonzalez‐Ruiz, J. D., Marín‐Rodríguez, N. J., & Weber, O. (2024). New insights on social finance research in the sustainable development context. Business Strategy & Development, 7(1), e342. https://doi.org/10.1002/bsd2.342 Gressieux, E., & Meunier, L. (2024). Normalization of Socially Responsible Investments - Does it Fit the Bill ? Why Metrics and Standards can be Detrimental to Ethics and Push Back Individual Investors: Bankers, Markets & Investors, n° 179(4), 39‑51. https://doi.org/10.54695/bmi.179.0039 Lehner, O. M., & Nicholls, A. (2014). Social finance and crowdfunding for social enterprises : A public–private case study providing legitimacy and leverage. Venture Capital, 16(3), 271‑286. https://doi.org/10.1080/13691066.2014.925305 Moussavou, J. (2022). Meeting the challenge of innovation in the banking industry : An analysis through dynamic capabilities: Bankers, Markets & Investors, N° 168(1), 13‑27. https://doi.org/10.54695/bmi.168.0013 Nassani, A. A., Aldakhil, A. M., & Zaman, K. (2021). Ecological footprints jeopardy for mineral resource extraction : Efficient use of energy, financial development and insurance services to conserve natural resources. Resources Policy, 74, 102271. https://doi.org/10.1016/j.resourpol.2021.102271 Shan, H. (2025). Corporate venture capital and the boundaries of the firm. Journal of Business Venturing, 40(4), 106500. https://doi.org/10.1016/j.jbusvent.2025.106500 Solis-Navarrete, J. A., Bucio-Mendoza, S., & Paneque-Gálvez, J. (2021). What is not social innovation. Technological Forecasting and Social Change, 173, 121190. https://doi.org/10.1016/j.techfore.2021.121190 Sova, A., Rožman, M., & Korez Vide, R. (2024). Exploring Differences in Green Innovation among Countries with Individualistic and Collectivist Cultural Orientations. Sustainability, 16(17), 7685. https://doi.org/10.3390/su16177685 Spanuth, A., & Urbano, D. (2024). Exploring social enterprise legitimacy within ecosystems from an institutional approach : A systematic literature review and research agenda. International Journal of Management Reviews, 26(2), 211‑231. https://doi.org/10.1111/ijmr.12349 Vismara, S., & Wirtz, P. (2025). Fundraising, Governance and Environmental Ethics : Evidence from Equity Crowdfunding. Journal of Business Ethics, 200(4), 841‑865. https://doi.org/10.1007/s10551-024-05917-3 |
