The Drivers of Green Investment: A Bibliometric and Systematic Review

Abstract

Considering the growing of high alarm signals on environmental issues, the implementation of green, sustainable, responsible investments has become a priority for each organization, in addition to maximizing profits and harmonious development with the environment. The purpose of this study is to examine the importance of implementing green investments within organizations and to identify the drivers that influence decisions for the implementation of green investments. In order to achieve this, two types of analyses were used: bibliometric analysis and systematic analysis, researching the representative studies in the field. The search was carried out for the period 1990–2020, and the analyzed sample comprised 444 articles. Following the application of the two methods of analysis, the results show that in the last 6 years the interest of companies in green investments has increased significantly, organizations being concerned with the efficient use of resources and environmental issues. This research highlights the internal and external drivers over which companies have a higher or lower control, as the case may be, in order to involve in green investments. The article offers new pathways for future research on this matter. Therefore, future research may develop a detailed description of the identified drivers for green investment. In addition, further research can calculate the level of the drivers’ impact on green investment and can identify that certain drivers should be more attentively treated. Moreover, subsequent works in this field can continue to identify new drivers or new ways of promoting the already identified drivers in the present research. Consequently, green investment could produce positive effects related to the reduction of pollution and global warming.

Green supply chain management/green finance: a bibliometric analysis of the last twenty years by using the Scopus database

“…Hence, the green investment in water, biodiversity protection, waste treatment, resources, and climate change alleviation helps in enhancing industrial production. Many case studies show green investments help in the reduction of carbon emissions and protect the environment (Liu et al 2018 ; Chițimiea et al 2021 ). The researchers of Columbia University have examined the link between green investments and renewable energy and established that they were using different levels of sustainable development goals (Zhang et al 2022 ).…”

Financialization, Government Subsidies, and Manufacturing R&D Investment: Evidence from Listed Companies in China

“…As part of future research, given the current situation that China's manufacturing industry is facing with increasing resource and environmental constraints, increasing the level of green investment and green funds for enterprises is highly important for the sustainable development of China's manufacturing industry. The determinants of green investment of enterprises have also attracted great interest in academic circles [66][67][68]. As the financialization trend of Chinese manufacturing enterprises is becoming more and more apparent, the topic should be afforded further study so as to investigate the impact of financialization on green investment in the manufacturing industry.…”

Research on the Pathway of Green Financial System to Implement the Realization of China’s Carbon Neutrality Target

“…For investment in green financial products, the government can provide additional benefits, and investors who invest in green financial projects can enjoy certain benefits, so as to attract investment [ 59 ]. Third, the People’s Bank of China may make a list of “green finance pass” and list the high-quality and cost-effective green enterprises and projects that comply with regulations and standards through strict scrutiny and grade them according to the scale of enterprise and project [ 60 ]. Then, both commercial banks and non-bank investors can borrow and invest directly according to the list.…”