Categorizing and Understanding the Evolution of Literature on ESG Investments: A Bibliometric Analysis

Abstract

This study explores the research on Environment, Social and Governance (ESG) investments, which have emerged as a feasible way to strike a balance between sustainability, responsibility and profitability. The article employs bibliometric technique to analyse 161 articles published on ESG investments after 2007 in Scopus database. The data were analysed using VOS viewer. There was a sudden surge in publications is ESG investments after COVID pandemic. Seven clusters emerged out of bibliographic coupling; ESG risk and return, preferences for ESG investments, ESG investments under shocks, usage of ESG information, influence of ESG rating and determinants of ESG investment. The study provides insights into the evolution of ESG investing over time and across organizations and countries. The results indicate that ESG investments provide an alternative way to manage risk-reward trade-off. The study presents the prominent countries, institutions, sources, authors and cited articles in the area of ESG investments. The findings will be beneficial for investors and policymakers interested in ESG investments.