The Impact of Green Financing on Corporate Sustainability: The Moderating Role of Management Commitment

Introduction
Business organizations in today's competitive environment seek to enhance their organizational value through activities that improve ecological balance. Banks, utilizing their diverse resources, have turned to green financing to achieve sustainable growth and performance. Green financing has emerged as a new policy in banks, which not only enhances corporate sustainability but also helps address the challenges faced by environmentally friendly companies. This approach improves the efficiency of financial resource allocation and directs funds toward green industries. According to contingency theory, companies must adapt to environmental changes, and management commitment plays a key role in the successful implementation of green financing practices. Strong senior management support and leadership are essential for achieving sustainability through green financing. Banks should have contingency plans to prepare for key initiatives such as green financing. Management commitment to mobilizing resources and effectively implementing these practices plays a significant role in improving corporate sustainability. Green financing must remain consistently committed to reducing environmental issues, and financial regulators should guide companies toward developing environmentally sustainable businesses. Optimizing resource allocation and guiding consumption and investment behavior in green financing play a crucial role in enhancing corporate sustainability. However, management commitment is a critical factor in the success of these initiatives, and a lack of commitment can pose serious challenges to the effective implementation of green financing practices. Research indicates that green financing has a direct relationship with corporate sustainability and can improve environmental and economic performance. However, some studies have shown an indirect relationship between green financing and corporate sustainability, attributed to challenges such as capacity building and lack of stakeholder collaboration. Effective implementation of green financing practices can attract more green investors, leading to reduced environmental pollution and improved economic sustainability. In Iran, studies show that financing green projects can enhance energy efficiency and reduce operational costs for banks. Management commitment to green projects also plays a significant role in their success. However, limited research has been conducted on the impact of green financing on sustainability, particularly considering the role of management commitment. This study examines the impact of green financing and management commitment on sustainability in Iran's Post Bank. Investigating this issue can help identify and enhance the role of Post Bank in achieving sustainable development goals and provide a model for other financial institutions in the country. From an innovation perspective, this study aims to convince bank management to develop sustainable products and attract more customers through environmental compatibility.
 
Methodology
The current research is one of the types of research used with a quantitative approach and is included in the category of descriptive-correlational research. This research was conducted using the structural equation modeling research method and based on a standard questionnaire, and a variety of statistical indicators such as frequency, frequency percentage, tables and graphs were used to describe the collected data. Also, in the inferential statistics section, in order to answer the questions and check the research hypotheses, structural equation analysis and partial least squares (PLS) path analysis were used. The statistical population of the current study includes 290 managers and senior experts of Post Bank in Yazd province, the sample size was determined as 165 people based on Morgan's table, and sampling was done using simple random sampling. The data collection in this research is based on theoretical foundations based on library studies and in the field part based on the standard 23-item questionnaire of Daniel, it was based on the Likert scale.
 
Findings
The analysis of the results from testing the first hypothesis regarding the positive and significant impact of green financing from the postal bank of Yazd province on the sustainability of companies in their financial operations indicates that, considering the standardized path coefficient of (0.318) and the t-statistic value of (5.283), which falls outside the range of (±1.96), it can be concluded that green financing has a significant impact on the sustainability of companies. Furthermore, the examination of the results from testing the second hypothesis regarding the moderating effect of management commitment on the relationship between green financing and the sustainability of companies shows that, based on the standardized path coefficient of (0.537) and the t-statistic value of (4.649), which also falls outside the range of (±1.96), it can be concluded that the impact of green financing on the sustainability of companies is positive and significant when moderated by management commitment.
 
Discussion and Conclusion
In recent decades, attention to environmental issues and sustainable development has become a necessity. Sustainable development aims to meet present needs without compromising the ability of future generations to meet their own needs. Green financing plays a crucial role in this process by providing financial resources for projects that reduce negative environmental impacts, such as renewable energy and pollution reduction initiatives. This approach not only benefits the environment but also has positive economic and social impacts, including job creation and improved quality of life. Research has shown that green financing can significantly impact corporate sustainability, improving financial performance, reducing environmental risks, and enhancing brand reputation. However, a deeper understanding of its effects on companies and financial institutions is needed for effective implementation. In recent years, Iranian banks and financial institutions have recognized the importance of green financing and have implemented environmental projects. This study examined the impact of green financing on corporate sustainability, with the moderating role of management commitment, in Yazd Province's Post Bank. The results showed that green financing has a positive and significant impact on corporate sustainability. In other words, as green financing improves, so does corporate sustainability. Additionally, management commitment plays a crucial moderating role in this relationship. Improved management commitment strengthens the impact of green financing on corporate sustainability. These findings indicate that financial resources allocated to green projects widely support environmentally compatible investments and contribute to enhancing corporate sustainability.