EXPLORING THE ROLE OF SOCIAL ENTERPRISES IN ENHANCING FINANCIAL INCLUSION AND ENVIRONMENTAL SUSTAINABILITY: A CROSS-NATIONAL STUDY OF EMERGING ECONOMIES

Abstract

In the context of emerging economies, this study explores how social enterprises (SEs) can help to accomplish the goals of financial inclusion and environmental sustainability, focusing on the BRICS group of countries, including Brazil, Russia, India, China, and South Africa, in a cross-national manner. By adopting a mixed-methods research design involving qualitative case studies and quantitative surveys, the paper examines SE ingenuity, functionality, and expansibility within the setting of institutional vacuums, scarcity of access to finance, and environmental degradation. The results indicate that social enterprises in nations such as China, India and some other nations show a very high performance because they have high adoption of technologies, community collaboration, and their regulation is more favourable compared to enterprises in Russia and South Africa, which are constrained by their structures. The findings point to the significance of hybrid business models, inclusive digital finance, and green innovation to meet both development and environmental outcomes. Moreover, the study points to the amplification of the dual effects of SEs as made possible by enabling ecosystems that are distinguished with policy incentives, impact measurement systems, and diversified funding. The present paper is part of expanding literature on sustainable development and can contribute to providing a comprehensive framework between economic inclusion and environmental responsibility, and can offer applicable information that can be implemented by policymakers, investors, or practitioners who are interested in promoting mission-oriented enterprises in the Global South.