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Transitioning green finance from theory to practice for renewable energy development

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  • Sharma, Gagan Deep
  • Verma, Mahesh
  • Shahbaz, Muhammad
  • Gupta, Mansi
  • Chopra, Ritika

Abstract

Green finance has emerged as a strategy that encompasses not only instruments for mitigating greenhouse gas emissions and adapting to climate change, but also financial products and services that address a broader range of environmental concerns, including industrial pollution control, waste management, sanitation and hygiene, and ecological protection. The study employs an integrative approach comprising a bibliometric and manual review of sample studies to understand the subject of knowledge in green finance and its transition from theory to practice, indicating the current state of research and its evolution tendencies. The current study analyzes the publications that highlight the various dynamics of green finance by conducting a bibliometric analysis on a sample of 222 relevant papers retrieved from the Web of Science and Scopus databases. The study discusses the theoretical underpinnings of the constructs/themes uncovered through the results and identifies current research trends, hotspots, and prospective research opportunities. Finally, we identify key topics in the field of green finance and suggest a four-part conceptual framework (goal, procedure, place, and perspective) based on the results of the thematic map. This framework serves as a guide for future research.

Suggested Citation

  • Sharma, Gagan Deep & Verma, Mahesh & Shahbaz, Muhammad & Gupta, Mansi & Chopra, Ritika, 2022. "Transitioning green finance from theory to practice for renewable energy development," Renewable Energy, Elsevier, vol. 195(C), pages 554-565.
    • Handle: RePEc:eee:renene:v:195:y:2022:i:c:p:554-565
    DOI: 10.1016/j.renene.2022.06.041
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