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A systematic literature review of blockchain technology and environmental sustainability: Status quo and future research

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  • Arshad, Ameena
  • Shahzad, Faisal
  • Ur Rehman, Ijaz
  • Sergi, Bruno S.

Abstract

This study conducted a systematic literature review on the function and potential of blockchain technology in promoting environmental sustainability to achieve sustainable development goals (SDG 7 and SDG 13). We chronologically explored theoretical viewpoints, analytical frameworks, measures, relationships, and procedures from 2015 to 2022 to examine the relationship between blockchain technology and environmental sustainability. We followed a four-step methodology (planning, execution, analysis, and reporting) based on Tranfield et al.’s (2003) approach. The extensively preferred PRISMA technique was adopted for conducting a systematic literature review. VOSviewer program was used in this study for bibliometric analysis. The contribution of this study is that this is the first one to use a bibliometric analysis and SLR on the topic of blockchain technology, environment, and green finance from the standpoint of the SDGs, specifically SDG 7 and SDG 13. The findings suggest that to attain environmental sustainability, new approaches are required. New methods to achieve environmental sustainability are possible because of emerging technology like blockchain. Policymakers will benefit from understanding the effect of market interference and the available choices while considering their disruptive consequences. The findings are beneficial for political institutions in establishing the political and legal environment required to develop successful green blockchain applications.

Suggested Citation

  • Arshad, Ameena & Shahzad, Faisal & Ur Rehman, Ijaz & Sergi, Bruno S., 2023. "A systematic literature review of blockchain technology and environmental sustainability: Status quo and future research," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 1602-1622.
    • Handle: RePEc:eee:reveco:v:88:y:2023:i:c:p:1602-1622
    DOI: 10.1016/j.iref.2023.07.044
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    References listed on IDEAS

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    1. Snyder, Hannah, 2019. "Literature review as a research methodology: An overview and guidelines," Journal of Business Research, Elsevier, vol. 104(C), pages 333-339.
    2. Peter Howson, 2019. "Tackling climate change with blockchain," Nature Climate Change, Nature, vol. 9(9), pages 644-645, September.
    3. Lin William Cong & Zhiguo He, 2019. "Blockchain Disruption and Smart Contracts," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1754-1797.
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    Cited by:

    1. Huang, Lingyu & Zhou, Tingyuan, 2024. "How does blockchain technology enhance firm operation and cooperation?," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 34-49.
    2. Erna Farina Mohamed & Azlina Abdullah & Amar Hisham Jaaffar, 2024. "Energy Efficiency in Developing Countries: A Systematic Review of Current Findings and Directions towards a Net Zero Economy," International Journal of Energy Economics and Policy, Econjournals, vol. 14(5), pages 495-508, September.
    3. Wang, Minxue & Li, Bo & Song, Dongping, 2024. "The impact of blockchain on restricting the misuse of green loans in a capital-constrained supply chain," European Journal of Operational Research, Elsevier, vol. 314(3), pages 980-996.
    4. Marsela Thanasi Boçe & Julian Hoxha, 2024. "Blockchain Technology as a Catalyst for Sustainable Development: Exploring Economic, Social, and Environmental Synergies," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 13, March.
    5. Mulligan, Catherine & Morsfield, Suzanne & Cheikosman, Evîn, 2024. "Blockchain for sustainability: A systematic literature review for policy impact," Telecommunications Policy, Elsevier, vol. 48(2).

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