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This study aims to examine the adoption of Metaverse technology in the manufacturing industry and its potential impact on firms’ social and environmental sustainability performance.

Data were collected from 157 technology-based firms in the Malaysian high-tech manufacturing industry and analyzed using PLS-SEM to investigate the influence of social (i.e. social capital, open/innovative culture and empowerment) and technological factors (i.e. digitalization preparedness, integrability and strategic value) on Metaverse adoption and the moderating roles of digital trust and absorptive capacity.

Social and technological factors were found to significantly impact Metaverse adoption, with digital trust enhancing the influence of social factors. Absorptive capacity strengthens firms’ abilities to use social factors for adoption. However, digital trust does not significantly moderate the relationship between technological factors and adoption, nor does absorptive capacity impact this relationship. Finally, Metaverse adoption is shown to positively contribute to firms’ social sustainability, improving social well-being and equity, but it does not significantly impact environmental sustainability.

For practitioners, the study highlights the importance of fostering an organizational culture that supports digital trust and developing absorptive capacity as critical enablers of successful Metaverse adoption. Policy implications include the need for creating supportive policies that encourage digital transformation efforts aligned with sustainability goals.

Theoretically, this study integrates the Technology-Organization-Environment (TOE) framework, Human-Organization-Technology fit (HOT-fit) framework and Resource-Based View (RBV) to improve understanding of technology adoption and sustainability performance. From a managerial perspective, it highlights the importance of fostering digital trust and developing absorptive capacity as critical enablers of successful Metaverse adoption. Policy implications include the need for policies supporting digital transformation efforts aligned with sustainability goals.

This paper aims to provide new insights into the financing system used in emerging economies and how they related to UN Development Goals for sustainable development. The study focuses on small businesses’ informal financing options and whether these lead the borrower into a debt trap.

The study uses the example of small-medium fisheries in Indonesia to highlight the formal/informal financing options availed by the businesses and their relationship with the lender. The authors use the qualitative method with a phenomenology approach and interview key stakeholders in the sector.

The authors find that the set interest repayments and the checks and balances involved in judging the borrower’s creditworthiness make the formal due to the strict requirements. Instead, the fishermen rely on the informal financing system and borrow from the mapak – a person who lends money on the condition that the fishermen’s catch will be sold to the lender as repayment.

This study focuses on the financing system in emerging economies. Using the coastal business areas in the Indonesian fishing sector, the authors highlight the informal financing system and the potential debt trap. Future research could extend and study this issue in other industries and geographic regions to test whether emerging economies meet their targets and commitments under the UN Sustainability Development Goals. Emerging markets like Indonesia have a unique model of financing system and their business structure. Three conditions are highlighted in the financing system of business in coastal areas, namely, informal financing, close market access and social capital.

This study addresses financial inclusion and whether the UN Sustainability Development Goal 8 is being met in emerging economies. The study is one of the few to address this issue and highlights that emerging economies are yet to take concrete steps to make the formal financing sector more inclusive to achieve poverty alleviation.