Systematic literature review and bibliometric analysis of green finance and renewable energy development

Abstract

AbstractClimate change poses a significant threat to ecosystems, the economy, human health, and livelihoods worldwide. Hence, it is imperative to establish international collaboration among governments and corporations to effectively address climate change through the reduction of emissions and preservation of the environment. This study aims to examine and deliberate on publications on green finance initiatives and renewable energy development. This study conducts a systematic literature review and a meticulous bibliometric analysis that examines 128 scientific papers from 2010 to 2023 on green finance and renewable energy development to address the urgent need for sustainable solutions in the fight against climate change. The analysis shows a significant increase in annual publications, revealing growth in global interest in green finance and renewable energy with high‐impact journals playing a vital role in publishing research outputs. Furthermore, China is the country with the most publications, holding a commanding position. Another finding from the analysis is that from an academic perspective, the United States is also a country that is heavily engaged in research on green finance and renewable energy development. The study confirms the positive relationship between green finance and renewable energy development, and it shows that there is an urgent need to have green finance initiatives in companies to accelerate the development of renewable energy. The findings emphasize the importance of further research and global collaborations to harness the potential of green finance for a sustainable, low‐carbon future.