Sustainable investments: a scientometric review and research agenda

Abstract

PurposeSustainable investments (SI) represent a promising class of investments, combining financial returns with mitigating environmental challenges, achieving SDG goals and creating a positive business impact. An enhanced global focus on climate change developments in the backdrop of COP26 and COP27, raised the need for comprehensive literature mapping, to understand the emerging themes and future research arenas in this field.Design/methodology/approachThe authors apply a quali–quantitative approach of bibliometric methods coupled with content analysis, to review 1,022 articles obtained from the Web of Science (WoS) database for 1991–2023.FindingsThe results identify the leading authors and their collaborations, impactful journals and pioneering articles in sustainable investment literature. The authors also indicate seven major themes of SI to be financial performance; fiduciary duty; CSR; construction of ESG-based portfolios; sustainability assessment tools and mechanisms; investor behavior; and impact investing. Further, content analysis of literature from 2020 to 2023 highlights emerging research issues to be SDG financing via green bonds and social impact bonds; investor impact creation via shareholder engagement and field building strategies; and governance related determinants of firm-level sustainable investments. Finally, the authors discuss the research gaps across these themes and identify future research questions.Originality/valueThis paper crystallizes research themes in sustainable investment literature using a vast coverage of globally conducted studies published in reputed journals till date. The findings of this study coupled with future research questions provide a well-grounded foundation for new researchers to further explore the emerging dimensions of this field.

Guest editorial: A short review of the role of ESG activities in business and research

“…Moreover, the authors call for theoretical advances in the field of sustainability. Singhania et al (2024) confirm previous results about the difficulties in evaluating ESG disclosure and sustainable investments. They suggest applying technological innovations such as artificial intelligence (AI) and natural language processing (NLP) for analyzing ESGrelated information to better standardize the outcomes for efficient decision-making.…”

“…Singhania et al . (2024) provide a comprehensive review of literature on sustainable investments that represent a class of investments combining financial returns with mitigating environmental challenges, achieving sustainable development goals and creating a positive business impact.…”

“…Singhania et al . (2024) confirm previous results about the difficulties in evaluating ESG disclosure and sustainable investments.…”

“…Therefore, companies in developing markets feel minimal public pressure for sustainability disclosure and are rather influenced by international NGOs, the media and international buyers to improve sustainability disclosure, which is opposite to the findings from developed countries. Singhania et al (2024) provide a comprehensive review of literature on sustainable investments that represent a class of investments combining financial returns with mitigating environmental challenges, achieving sustainable development goals and creating a positive business impact. By applying several bibliometric techniques enhanced by content analysis, the authors identify the key researchers, journals and emerging research themes within the sustainable investment corpus of literature.…”