Green Finance in Environmental Monitoring: A Bibliometric Review of Investment Trends and Policy Impact
DOI:
https://doi.org/10.58812/wsnt.v3i03.2254Keywords:
Green Finance, Environmental Monitoring, Sustainable Development, Bibliometric Analysis, VOSviewerAbstract
The current study undertakes a bibliometric examination to analyze the emerging intersection of green finance and environmental monitoring, two critical areas that are driving the global agenda for sustainability. Based on evidence from the Scopus database and visualization using VOSviewer, the study investigates 20 years of scholarly articles to identify major authors, institutions, countries, and thematic groups. The findings of the research pinpoint a discernible chronological development—early research into pollution detection and environmental monitoring systems giving way to subsequent emphasis on financial tools such as green bonds, sustainable development investments, and decentralized finance. Keyword co-occurrence and overlay visualization show how environmentally pertinent data increasingly is being made part of financial decision-making and policy-making. In addition, the study reveals Chinese, American, Indian, and certain European country regional leadership in terming the story. Findings reveal theoretical and empirical contributions through the convergence of environmental science and financial innovation, as well as discovering limitations towards database scope and metrics by citation. Lastly, the study provides a strategic model for scholars, investors, and policymakers seeking to align environmental intelligence with sustainable finance practice.
References
[1] O. V Cheberyako, Z. S. Varnalii, O. A. Borysenko, and N. S. Miedviedkova, “‘Green’ finance as a modern tool for social and environmental security,” in IOP Conference Series: Earth and Environmental Science, IOP Publishing, 2021, p. 12017.
[2] S. Iqbal, F. Taghizadeh-Hesary, M. Mohsin, and W. Iqbal, “Assessing the role of the green finance index in environmental pollution reduction,” Stud. Appl. Econ., vol. 39, no. 3, 2021.
[3] V. H. Ho, “Sustainable finance & China’s green credit reforms: A test case for bank monitoring of environmental risk,” Cornell Int’l LJ, vol. 51, p. 609, 2018.
[4] N. Kushnir, Z. Los, V. Shpak, L. Malanchuk, and D. Tsaruk, “Implementation of the financial monitoring system into the Ukrainian enterprises activity based on the sustainable economic development and green financing concept,” in IOP Conference Series: Earth and Environmental Science, IOP Publishing, 2023, p. 12004.
[5] A. Tariq and A. Hassan, “Role of green finance, environmental regulations, and economic development in the transition towards a sustainable environment,” J. Clean. Prod., vol. 413, p. 137425, 2023.
[6] S. Khan, A. Akbar, I. Nasim, M. Hedvičáková, and F. Bashir, “Green finance development and environmental sustainability: A panel data analysis,” Front. Environ. Sci., vol. 10, p. 1039705, 2022.
[7] M. Sadiq, S. Nonthapot, S. Mohamad, O. Chee Keong, S. Ehsanullah, and N. Iqbal, “Does green finance matter for sustainable entrepreneurship and environmental corporate social responsibility during COVID-19?,” China Financ. Rev. Int., vol. 12, no. 2, pp. 317–333, 2022.
[8] D. Chen, H. Hu, and C. Chang, “Green finance, environment regulation, and industrial green transformation for corporate social responsibility,” Corp. Soc. Responsib. Environ. Manag., vol. 30, no. 5, pp. 2166–2181, 2023.
[9] C. Liu and S. S. Wu, “Green finance, sustainability disclosure and economic implications,” Fulbright Rev. Econ. Policy, vol. 3, no. 1, pp. 1–24, 2023.
[10] X. Zhang, Z. Wang, X. Zhong, S. Yang, and A. B. Siddik, “Do green banking activities improve the banks’ environmental performance? The mediating effect of green financing,” Sustainability, vol. 14, no. 2, p. 989, 2022.
[11] T. Zhao, H. Zhou, J. Jiang, and W. Yan, “Impact of green finance and environmental regulations on the green innovation efficiency in China,” Sustainability, vol. 14, no. 6, p. 3206, 2022.
[12] X. Zhou, X. Tang, and R. Zhang, “Impact of green finance on economic development and environmental quality: a study based on provincial panel data from China,” Environ. Sci. Pollut. Res., vol. 27, pp. 19915–19932, 2020.
[13] E. Rasoulinezhad and F. Taghizadeh-Hesary, “Role of green finance in improving energy efficiency and renewable energy development,” Energy Effic., vol. 15, no. 2, p. 14, 2022.
[14] C. Jiakui, J. Abbas, H. Najam, J. Liu, and J. Abbas, “Green technological innovation, green finance, and financial development and their role in green total factor productivity: Empirical insights from China,” J. Clean. Prod., vol. 382, p. 135131, 2023.
[15] J. Tian, L. Yu, R. Xue, S. Zhuang, and Y. Shan, “Global low-carbon energy transition in the post-COVID-19 era,” Appl. Energy, vol. 307, p. 118205, 2022.
[16] J. Wang, M. Ma, T. Dong, and Z. Zhang, “Do ESG ratings promote corporate green innovation? A quasi-natural experiment based on SynTao Green Finance’s ESG ratings,” Int. Rev. Financ. Anal., vol. 87, p. 102623, 2023.
[17] Y. Yang, X. Su, and S. Yao, “Nexus between green finance, fintech, and high-quality economic development: Empirical evidence from China,” Resour. Policy, vol. 74, p. 102445, 2021.
[18] M. A. Khan, H. Riaz, M. Ahmed, and A. Saeed, “Does green finance really deliver what is expected? An empirical perspective,” Borsa Istanbul Rev., vol. 22, no. 3, pp. 586–593, 2022.
[19] P. Soundarrajan and N. Vivek, “Green finance for sustainable green economic growth in India.,” Agric. Econ. Ekon., vol. 62, no. 1, 2016.
[20] D. Zhang, M. Mohsin, and F. Taghizadeh-Hesary, “Does green finance counteract the climate change mitigation: Asymmetric effect of renewable energy investment and R&D,” Energy Econ., vol. 113, p. 106183, 2022.
[21] M. Umar and A. Safi, “Do green finance and innovation matter for environmental protection? A case of OECD economies,” Energy Econ., vol. 119, p. 106560, 2023.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Loso Judijanto
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Facebook 
Instagram 
Twitter 
Youtube 
westscience.journals@gmail.com