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Bibliometric Analysis of Green Finance

Yıl 2025, Cilt: 5 Sayı: 1, 1 - 15, 13.07.2025

Öz

The need to reduce dependence on fossil fuels in the current economic system has brought the concept of green finance to global attention. Environmental degradation caused by economic activities has also become a significant issue for governments. This is because the use of fossil fuels threatens the growth of green energy, which is necessary to ensure energy security and achieve climate and clean air goals. To control such threats, a substantial amount of green finance is required for the transition to green energy. Green finance encompasses activities aimed at providing low-carbon funds and offering a financing pathway for individuals, companies, and governments seeking to invest in green projects. Green finance also facilitates the development of sustainable trade and investment activities, as well as green investment and financing instruments. In this context, the concept of green finance has drawn the attention of academic researchers, leading to studies addressing fundamental reasons such as environmental protection, climate change, and global concerns. This study aims to present an overall view of the accumulated and ongoing research on green finance by using bibliometric analysis, which quantitatively analyzes academic and scientific studies. The VOSviewer 1.6.20 program was utilized in the study. In addition, 4467 studies published in the international literature on green finance between 1990 and 2023 were examined and access to studies on green finance was provided by scanning various databases in the Web of Science. According to the findings of the study, 2023 had the highest number of publications. It has been observed that the studies on green finance consist mostly of articles with a rate of 86.130%. The findings also revealed that the most publications were in English and that China was the most productive country. The most productive institution was identified as the Beijing Institute of Technology, and the most prominent author was found to be Tagizadeh-Hesary, Farhad.

Kaynakça

  • Aizawa, M., & Yang, C. (2010). Green credit, green stimulus, green revolution? china’s mobilization of banks for environmental cleanup. Journal of Environment and Development, 19(2). https://doi.org/10.1177/1070496510371192
  • Albayrak, G. (2023). Yeşil ekonomi alanında yazında yayınlanmış makalelerin bibliyometrik analizi Dicle Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (32 (Dicle Üniversitesi'nin 50. Yılına Özel 50 Makale)), 347-367.
  • Al-Sheryani, K., & Nobanee, H. (2020). Green finance: a mini-review. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3538696
  • Bhatnagar, S., & Sharma, D. (2022). Evolution of green finance and its enablers: A bibliometric analysis. Renewable and Sustainable Energy Reviews, 162, 112405. https://doi.org/10.1016/j.rser.2022.112405
  • Bingler, J., Colesanti Senni, C., & Monnin, P. (2020). Climate financial risks: Assessing convergence, exploring diversity. CEP Discussion Notes, 6. http://dx.doi.org/10.2139/ssrn.3826413
  • Bovenberg, A. L., & Van der Ploeg, F. (1994). Green Policies and Public Finance in a Small Open Economy. The Scandinavian Journal of Economics, 96(3). https://doi.org/10.2307/3440497
  • Castañeda, K., Sánchez, O., Herrera, R. F., & Mejía, G. (2022). Highway Planning Trends: A Bibliometric Analysis. In Sustainability (Switzerland) (Vol. 14, Issue 9). https://doi.org/10.3390/su14095544
  • Clark, R., Reed, J., & Sunderland, T. (2018). Bridging funding gaps for climate and sustainable development: Pitfalls, progress and potential of private finance. Land use policy, 71, 335-346. https://doi.org/10.1016/j.landusepol.2017.12.013
  • Çevirgen, F., & Bayrakçı, E. (2024). Yeşil finans yazınının mevcut durumu ve geleceği: bibliyometrik bir analiz. Öneri Dergisi, 19(62), 79-112. https://doi.org/10.14783/maruoneri.1440257
  • Dervis, H. (2019). Bibliometric analysis using bibliometrix an R package. Journal of Scientometric Research, 8(3). https://doi.org/10.5530/JSCIRES.8.3.32
  • Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: an overview and guidelines. Journal of Business Research, 133. https://doi.org/10.1016/j.jbusres.2021.04.070
  • Dziwok, E., & Jäger, J. (2021). A Classification of Different Approaches to Green Finance and Green Monetary Policy. Sustainability, 13(21). https://doi.org/10.3390/su132111902
  • Fahim, F., & Mahadi, B. (2022). Green supply chain management/green finance: a bibliometric analysis of the last twenty years by using the Scopus database. Environmental Science and Pollution Research, 29(56), 84714-84740. https://doi.org/10.1007/s11356-022-21764-z
  • Flammer, C. (2020). Green bonds: effectiveness and implications for public policy. Environmental and Energy Policy and the Economy, 1(1), 95-128. https://doi.org/10.1086/706794
  • Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance ve İnvestment, 5(4), 210-233. https://doi.org/10.1080/20430795.2015.1118917
  • Gallego-Losada, R., Montero-Navarro, A., Rodríguez-Sánchez, J. L., & González-Torres, T. (2022). Retirement planning and financial literacy, at the crossroads. A bibliometric analysis. Finance Research Letters, 44. https://doi.org/10.1016/j.frl.2021.102109
  • Gilchrist, D., Yu, J., & Zhong, R. (2021). The limits of green finance: A survey of literature in the context of green bonds and green loans. Sustainability (Switzerland), 13(2). https://doi.org/10.3390/su13020478
  • Goyal, K., & Kumar, S. (2021). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies, 45(1). https://doi.org/10.1111/ijcs.12605
  • Guo, Y. M., Huang, Z. L., Guo, J., Li, H., Guo, X. R., & Nkeli, M. J. (2019). Bibliometric analysis on smart cities research. Sustainability (Switzerland), 11(13). https://doi.org/10.3390/su11133606
  • Huang, Y., Chen, C., Lei, L., & Zhang, Y. (2022). Impacts of green finance on green innovation: a spatial and nonlinear perspective. Journal of Cleaner Production, 365. https://doi.org/10.1016/j.jclepro.2022.132548
  • Jin, Y., Gao, X., & Wang, M. (2021). The financing efficiency of listed energy conservation and environmental protection firms: evidence and implications for green finance in China. Energy Policy, 153. https://doi.org/10.1016/j.enpol.2021.112254
  • Krastev, B., & Krasteva-Hristova, R. (2024). Challenges and trends in green finance in the context of sustainable development—a bibliometric analysis. Journal of Risk and Financial Management, 17(7), 301. https://doi.org/10.3390/jrfm17070301
  • Lim, W. M., & Kumar, S. (2024). Guidelines for interpreting the results of bibliometric analysis: A sensemaking approach. Global Business and Organizational Excellence, 43(2). https://doi.org/10.1002/joe.22229
  • Luo, W., Tian, Z., Zhong, S., Lyu, Q., & Deng, M. (2022). Global evolution of research on sustainable finance from 2000 to 2021: a bibliometric analysis on WoS database. Sustainability, 14(15), 9435. https://doi.org/10.3390/su14159435
  • M Tucker, & Ann Arbor. (1995). Pollution Prevention and Finance.
  • Mougenot, B., & Doussoulin, J. P. (2022). Conceptual evolution of the bioeconomy: a bibliometric analysis. Environment, Development and Sustainability, 24(1). https://doi.org/10.1007/s10668-021-01481-2
  • Muchiri, M. K., Erdei-Gally, S., Fekete-Farkas, M., & Lakner, Z. (2022). Bibliometric analysis of green finance and climate change in post-paris agreement era. Journal of Risk and Financial Management, 15(12), 561. https://doi.org/10.3390/jrfm15120561
  • Naeem, M. A., Karim, S., Rabbani, M. R., Bashar, A., & Kumar, S. (2023). Current state and future directions of green and sustainable finance: a bibliometric analysis. Qualitative Research in Financial Markets, 15(4), 608-629. https://doi.org/10.1108/QRFM-10-2021-0174
  • Ren, X., Shao, Q., & Zhong, R. (2020). Nexus between green finance, non-fossil energy use, and carbon intensity: Empirical evidence from China based on a vector error correction model. Journal of Cleaner Production, 277. https://doi.org/10.1016/j.jclepro.2020.122844
  • Sachs, J. D., Woo, W. T., Yoshino, N., & Taghizadeh-Hesary, F. (2019). Why Is Green Finance Important? SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3327149
  • Şahin, E. (2024). Yeşil Finansa Yönelik Yapılan Çalışmaların Bibliyometrik Analizi. İşletme Araştırmaları Dergisi, 16(3), 1300-1312. https://doi.org/10.20491/isarder.2024.1856
  • Taghizadeh-Hesary, F., & Yoshino, N. (2020). Sustainable solutions for green financing and investment in renewable energy projects. Energies. https://doi.org/10.3390/en13040788
  • Tigre, F. B., Curado, C., & Henriques, P. L. (2023). Digital leadership: a bibliometric analysis. Journal of Leadership and Organizational Studies, 30(1). https://doi.org/10.1177/15480518221123132
  • Vergura, D. T., Zerbini, C., Luceri, B., & Palladino, R. (2023). Investigating sustainable consumption behaviors: a bibliometric analysis. British Food Journal, 125(13). https://doi.org/10.1108/BFJ-06-2022-0491
  • Wang, Y., Zhao, N., Lei, X., & Long, R. (2021). Green finance innovation and regional green development. Sustainability (Switzerland), 13(15). https://doi.org/10.3390/su13158230
  • Weber, O., & ElAlfy, A. (2019). The development of green finance by sector. https://doi.org/10.1007/978-3-030-22510-0_3
  • Xu, J., She, S., Gao, P., & Sun, Y. (2023). Role of green finance in resource efficiency and green economic growth. Resources Policy, 81. https://doi.org/10.1016/j.resourpol.2023.103349
  • Yu, X., Mao, Y., Huang, D., Sun, Z., & Li, T. (2021). Mapping global research on green finance from 1989 to 2020: A bibliometric study. Advances in Civil Engineering, 2021(1), 9934004. https://doi.org/10.1155/2021/9934004
  • Zhang, W., & Li, P. I. (2009). Progress and prospects of Chinese and international environmental finance study. Proceedings - 2009 International Conference on Environmental Science and Information Application Technology, ESIAT 2009, 2. https://doi.org/10.1109/ESIAT.2009.310
  • Zhang, D., Zhang, Z., & Managi, S. (2019). A bibliometric analysis on green finance: current status, development, and future directions. Finance Research Letters, 29, 425-430. https://doi.org/10.1016/j.frl.2019.02.003

Yeşil Finansın Bibliyometrik Analizi

Yıl 2025, Cilt: 5 Sayı: 1, 1 - 15, 13.07.2025

Öz

Mevcut ekonomik sistemde fosil yakıtlara olan bağımlılığı azaltma ihtiyacı yeşil finans kavramının dünya çapında dikkat çekmesine neden olmuştur. Ekonomik faaliyetlerin neden olduğu çevresel bozulmalar hükümetler için de önemli bir sorun haline gelmiştir. Çünkü fosil yakıtların kullanılıyor olması enerji güvenliği sağlamak, iklim ve temiz hava hedeflerine ulaşmak için gereken yeşil enerjinin büyümesini tehdit etmektedir. Bu tarz tehditleri kontrol altına almak için yeşil enerjiye geçişte önemli miktarda yeşil finansmana ihtiyaç duyulmaktadır. Yeşil finans düşük karbonlu fon sağlamak ve yatırım yapmak isteyen bireylere, şirketlere ve hükümetlere bir finansman yolu sunmayı amaçlayan yeşil faaliyetleri kapsamaktadır. Yeşil finans sürdürülebilir ticaret ve yatırım faaliyetlerinin, yeşil yatırım ve finansman araçlarının geliştirilmesini de sağlamaktadır. Bu doğrultuda yeşil finans kavramı akademik araştırmacıların da dikkatini çekerek çevreyi koruma, iklim değişikliği ve küresel endişeler gibi temel sebepleri ele alan çalışmalar ortaya konulmuştur. Bu çalışma ise akademik ve bilimsel çalışmaların niceliksel analizini gerçekleştiren bibliyometrik analizi kullanarak yeşil finans ile ilgili biriken ve ilerleyen çalışmaların genel manzarasını ortaya koyma amacı taşımaktadır. Çalışmada VOSviewer 1.6.20 programından yararlanılmıştır. Ayrıca çalışmada 1990-2023 yılları arasında yeşil finans ile ilgili uluslararası literatürde yayınlanan 4467 çalışma incelenmiş ve Web of Science’da bulunan çeşitli veri tabanları taranarak yeşil finans ile ilgili çalışmalara erişim sağlanmıştır. Çalışmanın sonucunda ulaşılan bulgulara göre en yüksek çalışma sayısının 2023 yılı olduğu görülmüştür. Yeşil finans ile ilgili yapılan çalışmaların % 86.130 oranla en çok makalelerden oluştuğu gözlemlenmiştir. En çok “ingilizce” yayın yapıldığı ve buna ek olarak en üretken ülkenin Çin olduğu bulgusuna ulaşılmıştır. En üretken kurumun ise “Beijing Institute of Technology” ve en tanınmış yazarın “Tagizadeh-Hesary, Farhad” olduğu bulgularına ulaşılmıştır.

Etik Beyan

Bu çalışmanın hazırlanma sürecinde bilimsel ve etik ilkelere uyulduğu ve yararlanılan tüm çalışmaların kaynakçada belirtildiği beyan olunur.

Kaynakça

  • Aizawa, M., & Yang, C. (2010). Green credit, green stimulus, green revolution? china’s mobilization of banks for environmental cleanup. Journal of Environment and Development, 19(2). https://doi.org/10.1177/1070496510371192
  • Albayrak, G. (2023). Yeşil ekonomi alanında yazında yayınlanmış makalelerin bibliyometrik analizi Dicle Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (32 (Dicle Üniversitesi'nin 50. Yılına Özel 50 Makale)), 347-367.
  • Al-Sheryani, K., & Nobanee, H. (2020). Green finance: a mini-review. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3538696
  • Bhatnagar, S., & Sharma, D. (2022). Evolution of green finance and its enablers: A bibliometric analysis. Renewable and Sustainable Energy Reviews, 162, 112405. https://doi.org/10.1016/j.rser.2022.112405
  • Bingler, J., Colesanti Senni, C., & Monnin, P. (2020). Climate financial risks: Assessing convergence, exploring diversity. CEP Discussion Notes, 6. http://dx.doi.org/10.2139/ssrn.3826413
  • Bovenberg, A. L., & Van der Ploeg, F. (1994). Green Policies and Public Finance in a Small Open Economy. The Scandinavian Journal of Economics, 96(3). https://doi.org/10.2307/3440497
  • Castañeda, K., Sánchez, O., Herrera, R. F., & Mejía, G. (2022). Highway Planning Trends: A Bibliometric Analysis. In Sustainability (Switzerland) (Vol. 14, Issue 9). https://doi.org/10.3390/su14095544
  • Clark, R., Reed, J., & Sunderland, T. (2018). Bridging funding gaps for climate and sustainable development: Pitfalls, progress and potential of private finance. Land use policy, 71, 335-346. https://doi.org/10.1016/j.landusepol.2017.12.013
  • Çevirgen, F., & Bayrakçı, E. (2024). Yeşil finans yazınının mevcut durumu ve geleceği: bibliyometrik bir analiz. Öneri Dergisi, 19(62), 79-112. https://doi.org/10.14783/maruoneri.1440257
  • Dervis, H. (2019). Bibliometric analysis using bibliometrix an R package. Journal of Scientometric Research, 8(3). https://doi.org/10.5530/JSCIRES.8.3.32
  • Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: an overview and guidelines. Journal of Business Research, 133. https://doi.org/10.1016/j.jbusres.2021.04.070
  • Dziwok, E., & Jäger, J. (2021). A Classification of Different Approaches to Green Finance and Green Monetary Policy. Sustainability, 13(21). https://doi.org/10.3390/su132111902
  • Fahim, F., & Mahadi, B. (2022). Green supply chain management/green finance: a bibliometric analysis of the last twenty years by using the Scopus database. Environmental Science and Pollution Research, 29(56), 84714-84740. https://doi.org/10.1007/s11356-022-21764-z
  • Flammer, C. (2020). Green bonds: effectiveness and implications for public policy. Environmental and Energy Policy and the Economy, 1(1), 95-128. https://doi.org/10.1086/706794
  • Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance ve İnvestment, 5(4), 210-233. https://doi.org/10.1080/20430795.2015.1118917
  • Gallego-Losada, R., Montero-Navarro, A., Rodríguez-Sánchez, J. L., & González-Torres, T. (2022). Retirement planning and financial literacy, at the crossroads. A bibliometric analysis. Finance Research Letters, 44. https://doi.org/10.1016/j.frl.2021.102109
  • Gilchrist, D., Yu, J., & Zhong, R. (2021). The limits of green finance: A survey of literature in the context of green bonds and green loans. Sustainability (Switzerland), 13(2). https://doi.org/10.3390/su13020478
  • Goyal, K., & Kumar, S. (2021). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies, 45(1). https://doi.org/10.1111/ijcs.12605
  • Guo, Y. M., Huang, Z. L., Guo, J., Li, H., Guo, X. R., & Nkeli, M. J. (2019). Bibliometric analysis on smart cities research. Sustainability (Switzerland), 11(13). https://doi.org/10.3390/su11133606
  • Huang, Y., Chen, C., Lei, L., & Zhang, Y. (2022). Impacts of green finance on green innovation: a spatial and nonlinear perspective. Journal of Cleaner Production, 365. https://doi.org/10.1016/j.jclepro.2022.132548
  • Jin, Y., Gao, X., & Wang, M. (2021). The financing efficiency of listed energy conservation and environmental protection firms: evidence and implications for green finance in China. Energy Policy, 153. https://doi.org/10.1016/j.enpol.2021.112254
  • Krastev, B., & Krasteva-Hristova, R. (2024). Challenges and trends in green finance in the context of sustainable development—a bibliometric analysis. Journal of Risk and Financial Management, 17(7), 301. https://doi.org/10.3390/jrfm17070301
  • Lim, W. M., & Kumar, S. (2024). Guidelines for interpreting the results of bibliometric analysis: A sensemaking approach. Global Business and Organizational Excellence, 43(2). https://doi.org/10.1002/joe.22229
  • Luo, W., Tian, Z., Zhong, S., Lyu, Q., & Deng, M. (2022). Global evolution of research on sustainable finance from 2000 to 2021: a bibliometric analysis on WoS database. Sustainability, 14(15), 9435. https://doi.org/10.3390/su14159435
  • M Tucker, & Ann Arbor. (1995). Pollution Prevention and Finance.
  • Mougenot, B., & Doussoulin, J. P. (2022). Conceptual evolution of the bioeconomy: a bibliometric analysis. Environment, Development and Sustainability, 24(1). https://doi.org/10.1007/s10668-021-01481-2
  • Muchiri, M. K., Erdei-Gally, S., Fekete-Farkas, M., & Lakner, Z. (2022). Bibliometric analysis of green finance and climate change in post-paris agreement era. Journal of Risk and Financial Management, 15(12), 561. https://doi.org/10.3390/jrfm15120561
  • Naeem, M. A., Karim, S., Rabbani, M. R., Bashar, A., & Kumar, S. (2023). Current state and future directions of green and sustainable finance: a bibliometric analysis. Qualitative Research in Financial Markets, 15(4), 608-629. https://doi.org/10.1108/QRFM-10-2021-0174
  • Ren, X., Shao, Q., & Zhong, R. (2020). Nexus between green finance, non-fossil energy use, and carbon intensity: Empirical evidence from China based on a vector error correction model. Journal of Cleaner Production, 277. https://doi.org/10.1016/j.jclepro.2020.122844
  • Sachs, J. D., Woo, W. T., Yoshino, N., & Taghizadeh-Hesary, F. (2019). Why Is Green Finance Important? SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3327149
  • Şahin, E. (2024). Yeşil Finansa Yönelik Yapılan Çalışmaların Bibliyometrik Analizi. İşletme Araştırmaları Dergisi, 16(3), 1300-1312. https://doi.org/10.20491/isarder.2024.1856
  • Taghizadeh-Hesary, F., & Yoshino, N. (2020). Sustainable solutions for green financing and investment in renewable energy projects. Energies. https://doi.org/10.3390/en13040788
  • Tigre, F. B., Curado, C., & Henriques, P. L. (2023). Digital leadership: a bibliometric analysis. Journal of Leadership and Organizational Studies, 30(1). https://doi.org/10.1177/15480518221123132
  • Vergura, D. T., Zerbini, C., Luceri, B., & Palladino, R. (2023). Investigating sustainable consumption behaviors: a bibliometric analysis. British Food Journal, 125(13). https://doi.org/10.1108/BFJ-06-2022-0491
  • Wang, Y., Zhao, N., Lei, X., & Long, R. (2021). Green finance innovation and regional green development. Sustainability (Switzerland), 13(15). https://doi.org/10.3390/su13158230
  • Weber, O., & ElAlfy, A. (2019). The development of green finance by sector. https://doi.org/10.1007/978-3-030-22510-0_3
  • Xu, J., She, S., Gao, P., & Sun, Y. (2023). Role of green finance in resource efficiency and green economic growth. Resources Policy, 81. https://doi.org/10.1016/j.resourpol.2023.103349
  • Yu, X., Mao, Y., Huang, D., Sun, Z., & Li, T. (2021). Mapping global research on green finance from 1989 to 2020: A bibliometric study. Advances in Civil Engineering, 2021(1), 9934004. https://doi.org/10.1155/2021/9934004
  • Zhang, W., & Li, P. I. (2009). Progress and prospects of Chinese and international environmental finance study. Proceedings - 2009 International Conference on Environmental Science and Information Application Technology, ESIAT 2009, 2. https://doi.org/10.1109/ESIAT.2009.310
  • Zhang, D., Zhang, Z., & Managi, S. (2019). A bibliometric analysis on green finance: current status, development, and future directions. Finance Research Letters, 29, 425-430. https://doi.org/10.1016/j.frl.2019.02.003
Toplam 40 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular Ekonomi Teorisi (Diğer)
Bölüm Araştırma Makalesi
Yazarlar

Esin Kendir 0000-0003-0435-7499

Gönderilme Tarihi 29 Ekim 2024
Kabul Tarihi 27 Haziran 2025
Yayımlanma Tarihi 13 Temmuz 2025
Yayımlandığı Sayı Yıl 2025 Cilt: 5 Sayı: 1

Kaynak Göster

APA Kendir, E. (2025). Yeşil Finansın Bibliyometrik Analizi. Hitit Ekonomi ve Politika Dergisi, 5(1), 1-15.

Hitit Ekonomi ve Politika Dergisi Creative Commons Atıf-GayriTicari 4.0 Uluslararası Lisansı (CC BY NC) ile lisanslanmıştır.