Bibliometric Review on Sustainable Finance

Abstract

Unlike conventional finance, sustainable finance seeks to integrate social, environmental, and climate change considerations into financial institutions’ business strategies. The financial system’s ability to positively respond to sustainability transition demands is contingent upon a directional transformation that involves regulatory, political, structural, theoretical, and relational shifts. Accordingly, this paper performs a quali-quantitative analysis that combines both a bibliometric method with a content analysis process to investigate the trend of sustainable finance literature in the Scopus database and provide directions for potential future research. Our bibliometric performance analysis of 723 publications reveals that the UK, China, the US, Switzerland, and Japan are the major centers of research excellence in sustainable finance. They are the most productive countries and hold the most relevant institutions. Moreover, the prevalence of transdisciplinary journals over mainstream finance and economics sources is obvious. Our network map analysis, on the other hand, shows the substantial relevancy of sustainable/green banks’ involvement in sustainable development. Nonetheless, its relatively low density underlines the existence of relevant research gaps. Therefore, we undertake a content analysis of that particular topic’s literature to derive its conceptual structure and truly understand banks’ important role in sustainability transition. Key research themes in this respect include sustainability performance and banks’ profitability associations; sustainable banks’ risk profile; determinants of banks’ willingness to introduce sustainability criteria into their business strategy; depositors’/customers’ responsiveness to banks’ sustainability performance; and relevant macroprudential regulations, monetary policies, and supervisory guidelines to sustainability transition.

Green bonds as the driving force of environmental performance – the European perspective

“…A detailed review of the literature on green finance, including green bonds, in various aspects, is presented by among others: Bhutta et al (2022), Cortellini and Panetta (2021), Kashi and Shah (2023)and environmental concern is one of them. The practitioners and researchers are trying to study the mechanism of funding for environment-friendly projects and how it affects its stakeholders.…”

Economic Resilience and Sustainable Finance Path to Development and Convergence in Romanian Counties

“…Sustainable finance is a concept and approach to finance that aims to integrate economic, social, and environmental aspects to ensure sustainable and balanced development [15]. It involves managing financial resources in a responsible way to ensure that the needs of the present are met without compromising the ability of future generations to meet their own needs [16].…”

Twitter Sentiment Analysis On Sustainable Finance

“…This research proposes a classification of convergence axes comprising sustainable finance studies to characterize the pool of knowledge generated from three decades of studies: Banks, Countries, Finance, Sustainability and Policy, abbreviated as BCFSP theme. Kashi & Shah (2023) investigated the trends of sustainable finance literature in the Scopus database and provided directions for potential future research. The study concludes that key research themes in this regard include sustainability performance and profitability associations of banks; risk profiles of sustainable banks; factors determining banks' willingness to incorporate sustainability criteria into their business strategies; depositor/customer responsiveness to banks' sustainability performance; and relevant macroprudential regulations, monetary policies, and supervisory guidelines towards sustainability transition.…”