ABSTRACT: This study aims to analyze the determinants of financial performance and their implications for sustainability development in Indonesia’s manufacturing sector, integrating the roles of green technology, digital transformation, and green finance. Employing a quantitative approach with Structural Equation Modeling (SEM) and dynamic panel data (System-GMM), this research examines the simultaneous relationships among variables and the dual mediating roles of green innovation and financial performance. The findings reveal that green technology, digital transformation, and green finance have a significant positive effect on sustainability development, both directly and indirectly through green innovation and financial performance. Green innovation is proven to be a key mediator that strengthens the impact of green and digital strategies on sustainability, while financial performance serves as a bridge connecting sustainable investments to long-term goal achievement. These results provide theoretical contributions through the development of an integrative empirical model based on institutional theory, resource-based view, and stakeholder theory, while offering practical implications for manufacturing companies and policymakers in designing transition strategies toward an inclusive and resilient green economy.

KEYWORDS– Financial Performance, Sustainability Development, Green Technology, Digital Transformation, Green Finance, Green Innovation, Indonesian Manufacturing Sector, Structural Equation Modeling (SEM).