The Drivers of Green Investment: A Bibliometric and Systematic Review

Abstract

Considering the growing of high alarm signals on environmental issues, the implementation of green, sustainable, responsible investments has become a priority for each organization, in addition to maximizing profits and harmonious development with the environment. The purpose of this study is to examine the importance of implementing green investments within organizations and to identify the drivers that influence decisions for the implementation of green investments. In order to achieve this, two types of analyses were used: bibliometric analysis and systematic analysis, researching the representative studies in the field. The search was carried out for the period 1990–2020, and the analyzed sample comprised 444 articles. Following the application of the two methods of analysis, the results show that in the last 6 years the interest of companies in green investments has increased significantly, organizations being concerned with the efficient use of resources and environmental issues. This research highlights the internal and external drivers over which companies have a higher or lower control, as the case may be, in order to involve in green investments. The article offers new pathways for future research on this matter. Therefore, future research may develop a detailed description of the identified drivers for green investment. In addition, further research can calculate the level of the drivers’ impact on green investment and can identify that certain drivers should be more attentively treated. Moreover, subsequent works in this field can continue to identify new drivers or new ways of promoting the already identified drivers in the present research. Consequently, green investment could produce positive effects related to the reduction of pollution and global warming.