https://archive.aessweb.com/index.php/5002 Asian Economic and Social Society en-US Asian Economic and Financial Review 2305-2147 https://archive.aessweb.com/index.php/5002/article/view/5785 <p>A scarce literature guides the examination of FinTech adoption on SMEs' sustainable performance via the mediation of green finance on green innovation, with the moderating effect of ESGTL and green innovation strategy. Data were collected from 250 SME managers and owners from Pakistan and Malaysia for comparative perspectives, and CB-SEM was applied for data analysis. Results revealed FA's significant effect on SMEs' SP in both countries. GF partially mediates the effect of FA on GI in Malaysia, whereas complete mediation prevails between the constructs in Pakistan. GI fully mediates the effect of GF and SP in both countries. Higher involvement in green innovation strategy moderates the increase in the changes to focus on green finance practices. The higher commitment to ESGTL increases the influence of green financing on green innovation applications in both countries. Lastly, ESGTL improves green innovation's role in attaining sustainable performance for Malaysian SMEs compared to Pakistan. Findings contribute to the enduring literature on fintech and the sustainable performance of SME firms from the perspective of growing economies. Furthermore, it confirms the importance of FA, GF, and GI in enhancing the SP of SME firms, and in due course, confirms the sustainable financial advancement of a country.</p> Asad Ur Rehman Muhammad Ahmad Siti Hajar Mohamed Ihtisham Ullah Ayesha Nawal Copyright (c) 2025 2025-12-24 2025-12-24 16 1 1 25 10.55493/5002.v16i1.5785 https://archive.aessweb.com/index.php/5002/article/view/5786 <p>This study investigates the impact of the board of directors’ effectiveness on greenhouse gas (GHG) disclosure among listed firms in Saudi Arabia, a resource-rich emerging economy transitioning towards sustainability under Vision 2030 and the 2060 net-zero pledge. Guided by stakeholder and legitimacy theories, board effectiveness was measured as a composite index comprising independence, size, gender diversity, and meeting frequency. Using a purposive sample of 150 high-impact firms across 750 firm-year observations (2020–2024), GHG disclosure was assessed through a novel, context-specific disclosure index developed via content analysis of publicly available reports, capturing both breadth and quality. The random-effects regression results indicate that board effectiveness (BOE) has a strong and positive effect on GHG disclosure (β = 0.0630, t = 8.82, p &lt; 0.01), confirming that well-functioning boards drive climate transparency. This suggests that firms with more independent, diverse, and active boards are better positioned to oversee climate-related strategies, ensure the credibility of environmental reporting, and respond effectively to growing stakeholder and regulatory demands for sustainability accountability. The findings further underscore the pivotal role of robust governance in enhancing climate-related transparency, delivering actionable insights for policymakers crafting regulations, corporate executives shaping sustainable strategies, and researchers exploring governance impacts. The limitations include the study’s sector-specific focus, reliance on secondary disclosures, and temporal scope, suggesting future research avenues in cross-country comparisons, longitudinal analysis, and governance climate strategy integration.</p> Amani Ebnaoof Copyright (c) 2025 2025-12-24 2025-12-24 16 1 26 41 10.55493/5002.v16i1.5786