Mapping Sustainable Finance Research: A Bibliometric Perspective

Abstract

This study describes a comprehensive bibliometric analysis of scholarly publications and practices in sustainable finance research, aiming to identify the global research patterns in this field. Sourcing data from several reputable academic journals from 2014 to 2024 identified key research clusters, prolific authors, and institutions. The purpose of this study is to investigate trends and literature development in sustainable finance, which is an emerging research issue. Bibliometric analysis of sustainable finance trends and literature development using the Web of Science database. Use the keyword \"sustainable finance\" to retrieve the results. There are 833 document results in the Web of Science database. After applying the inclusion and exclusion criteria, which limited the results to 2014-24 and refined the results by areas such as Business Economics, Environmental Sciences, Ecology, and Social Sciences Other Topics, the final number of document results is 598. Biblioshiny and VOS Viewer are the tools to use for bibliometric analysis.

Introduction

Sustainable finance integrates environmental, social, and governance (ESG) criteria into financial decision-making to promote ethical investment, long-term value creation, and alignment with sustainable development goals. It encompasses tools such as green bonds, impact investing, and socially responsible investing, evolving from ethical investing to a central element of risk management and strategic growth. Sustainable finance differs from green finance by being broader, addressing ESG concerns, mitigating risks like climate change and social inequities, and enhancing corporate resilience and financial performance.

The study applies a bibliometric approach to map research trends, influential publications, and collaboration networks in sustainable finance. Using data from Web of Science (598 selected papers from 2014–2024), tools like Biblioshiny (R) and VOSviewer were employed for performance and network analyses. Key findings include:

• Rapid growth: 27.88% annual increase in publications, reflecting heightened academic interest.

• Interdisciplinary scope: Research spans finance, environmental science, and policy studies, with 1,538 authors and high international collaboration (46.32%).

• Key sources and authors: Journals like Sustainability lead in output; influential authors include Hopner AGF, Zhang YW, and Ding SG.

• Thematic diversity: Extensive keyword variety (3,152 terms) indicates broad research focus on ESG integration, green finance, and digitalization of financial services.

The bibliometric analysis provides a systematic understanding of the intellectual structure, thematic evolution, and global collaboration patterns in sustainable finance research, guiding future scholarly and policy developments in the field.

Conclusion

Societal concerns about sustainability and sustainable development have highlighted challenges in sustainable finance (Ferreira, C. R. de; C., Sobreiro; V. A., Kimura; H., & Barboza; F. L. de M., 2016) Over the past few decades, the increasing number of publications in sustainable finance reflects its emergence as a significant research area. Bibliometric analysis and discussions on the sustainability of finance reveal numerous research opportunities for regulatory bodies and scholars. Despite the growing interest, there remains a substantial research gap in sustainable finance, presenting opportunities for further exploration at the intersection of sustainability and finance. This bibliometric analysis reveals that sustainable finance literature is not confined to finance alone; it integrates various interdisciplinary fields, including environmental engineering, sustainable development, and economic growth. However, research focused solely on sustainable finance has made limited intellectual contributions.

References

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Copyright

Copyright © 2026 Divya P. Bhadran, Dr. Vinod C.. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.