Current state and future directions of green and sustainable finance: a bibliometric analysis

Abstract

Purpose Growing attention of policymakers, governments and regulation authorities towards climate change and global warming has spurred the extensive need to carefully examine the current practices of green and sustainable finance. This study aims to provide a comprehensive analysis on the current state and future directions of green and sustainable finance through bibliometric analysis. Design/methodology/approach For extensive bibliometric analysis, the study comprises 1,413 documents published in peer-reviewed journals indexed in the SCOPUS database for the period ranging from 1990 to 2021. Findings The authors find that there are mainly three key areas of green and sustainable finance, which are largely addressed by the scholars following the given time. The key areas include socially responsible investments, green finance and climate finance that are in line with the previous studies and existing trends and practices prevailing in the business and corporate world. Practical implications The findings are important for policymakers, regulatory bodies, upcoming scholars, environmentalists and investors as findings of the study provide an effective framework for adopting sustainable strategies, to trade-off between profits and environmental hazards and to generate value from the green avenues of research and practice. Originality/value The study offers novel contributions to the existing literature in terms of comprehensively providing evidence of the current practices of green and sustainable finance. Meanwhile, significant implications for the prospective audience further refine the contribution of research.