Green Finance: A Bibliometric Analysis Based on WoS Data

Öz

Green finance deals with financial products, investments and services that support environmental sustainability and is increasingly gaining attention. In this context, identifying trends and influential studies in the field of green finance is important both at academic and practical levels. The study conducted a systematic search in the Web of Science database regarding green finance literature. Since Web of Science is a rich source in terms of scientific publications and citations, analyses conducted on this database allow the identification of the most influential studies and authors in the literature. The research results reveal that co-authorship and citation analyses in green finance literature have developed within a dominant global collaboration network around the field's keywords of "green finance, China and sustainable development". This collaboration network shows that green finance has a wide area of influence supported by different interdisciplinary studies, not only in a specific region, but also around the world. This situation can be evaluated as a reflection of the integration of green finance with various disciplines and efforts to achieve sustainable development goals at the global level.

Anahtar Kelimeler

• Green Finance
• Sustainable Development
• Bibliometric Analysis

Yeşil Finans: WoS Verilerine Dayalı Bibliyometrik Bir Analiz

Öz

Yeşil finans, çevresel sürdürülebilirliği destekleyen finansal ürünler, yatırımlar ve hizmetler ile ilgilenir ve giderek daha fazla dikkat çekmektedir. Bu bağlamda, yeşil finans alanındaki eğilimlerin ve etkili çalışmaların belirlenmesi, hem akademik hem de pratik düzeyde önemlidir. Çalışma, yeşil finans literatürüne ilişkin Web of Science veri tabanında sistematik bir araştırma gerçekleştirilmiştir. Web of Science, bilimsel yayınlar ve atıflar açısından zengin bir kaynak olduğundan, bu veri tabanı üzerinden yapılan analizler, literatürdeki en etkili çalışmaların ve yazarların belirlenmesine olanak tanır. Araştırma sonuçları, yeşil finans literatüründe ortak yazarlık ve atıf analizlerinin, alanın “yeşil finans, Çin ve sürdürülebilir kalkınma” anahtar kelimeleri etrafında baskın bir küresel iş birliği ağı içinde geliştiğini ortaya koymaktadır. Bu iş birliği ağı, yeşil finansın sadece belirli bir bölgeye değil, dünya genelinde farklı disiplinler arası çalışmalarla desteklenen geniş bir etki alanına sahip olduğunu göstermektedir. Bu durum, yeşil finansın çeşitli disiplinlerle entegrasyonunun ve küresel düzeyde sürdürülebilir kalkınma hedeflerine ulaşma çabalarının bir yansıması olarak değerlendirilebilir.

Anahtar Kelimeler

• Yeşil Finans
• Sürdürülebilir Kalkınma
• Bibliyometrik analiz.

Kaynakça

1. BM, (1987). Report of the World Commission on Environment and Development: Our Common Future”. https://sustainabledevelopment.un.org/content/documents/5987our-common-future.pdf.,Erişim Tarihi: 05.04.2024.
2. Chen X, Chen Z (2021) Can green finance development reduce carbon emissions? Empirical evidence from 30 Chinese provinces. Sustainability 13(21):12137. https:// doi. org/ 10. 3390/ su132 112137
3. Chen J, Li L, Yang D, Wang Z (2023) The dynamic impact of green finance and renewable energy on sustainable development in China.Front Environ Sci 10:1097181. https:// doi. org/ 10. 3389/ fenvs. 2022. 1097181
4. Darko, A., & Chan, A. P. C. (2016). Critical analysis of green building research trend in construction journals. Habitat International, 57, 53–63. https://doi.org/10.1016/j.habitatint.2016.07.001
5. Ellegaard, O., & Wallin, J. A. (2015). The bibliometric analysis of scholarly production: how great is the impact?. Scientometrics, 105: 1809–1831. doi: 10.1007/s11192-015-1645-z
6. Falcone P, Sica E (2019) Assessing the opportunities and challenges of green finance in Italy: an analysis of the biomass production sector.Sustainability 11(2):517. https:// doi. org/ 10. 3390/ su110 20517
7. Fang Y, Shao Z (2022) How does green finance affect cleaner industrial production and end-of-pipe treatment performance? Evidence from China. Environ Sci Pollut Res 30(12):33485–33503. https://doi. org/ 10. 1007/ s11356- 022- 24513-4
8. Gu X, Qin L, Zhang M (2023) The impact of green finance on the transformation of energy consumption structure: evidence based on China Front Earth Sci 10. https:// doi. org/ 10. 3389/ feart. 2022. 10973 46

9. Kroeze C, Ntziachristos L, Blok K, Hausler R (2022) Energy and climate governance for sustainable development. Annu Rev Environ Resour 47:1–27
10. Larsen M (2023) Adding “origination” to diffusion theory: contrasting the roles of china and the EU in green finance. Rev Int Polit Econ. https:// doi. org/ 10. 1080/ 09692 290. 2023. 22045 32
11. Liu, M. (2022). The Driving Forces of Green Bond Market Volatility and The Response of The Market to the COVID-19 Pandemic,Economic Analysis and Policy, 75: 288-309. https://doi.org/10.1016/j.eap.2022.05.012.
12. Li C, Umair M (2023) Does green finance development goals affects renewable energy in China. Renew Energy.
13. https:// doi. org/ 10. 1016/j. renene. 2022. 12. 066
14. Li C, Gan Y (2021) The spatial spillover effects of green finance on ecological environment-empirical research based on spatial econometric model. Environ Sci Pollut Res 28(5):5651–5665. https:// doi. org/ 10. 1007/ s11356- 020- 10961-3
15. Li C, Feng X, Li X, Zhou Y (2023) Effect of green credit policy on energy firms’ growth: evidence from China. Econ Res-Ekon Istraz. https:// doi. org/ 10. 1080/ 13316 77X. 2023. 21777 01
16. Li C, Fan X, Hu Y, Yan Y, Shang G, Chen Y (2022) Spatial spillover effect of green finance on economic development, environmental pollution, and clean energy production across china. Environ Sci Pollut Res 29(58):87858–87873. https:// doi. org/ 10. 1007/s11356- 022- 21782-x
17. 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(14), 9435. https://doi.org/10.3390/su14159435
18. Meo MS, Abd Karim MZ (2022) The role of green finance in reducing CO2 emissions: an empirical analysis. Borsa Istanbul Rev 22(1):169–178
19. Mudalige, H. M. N. K. (2023). Emerging new themes in green finance: A systematic literature review. Future Business Journal, 9(108). https://doi.org/10.1186/s43093-023-00287-0
20. Muganyi T, Yan L, Sun HP (2021) Green finance, fintech and environmental protection: evidence from China. Environ Sci Ecotechnol 7:100107
21. Noh, H. J. (2019). Financial strategies to accelerate green growth. Handbook of green finance. Sustainable development. Springer.
22. Ran C, Zhang Y (2023) Does green finance stimulate green innovation of heavy-polluting enterprises? Evidence from green finance pilot zones in China. Environ Sci Pollut Res. https:// doi. org/ 10. 1007/s11356- 023- 26758-z
23. Rasoulinezhad E, Taghizadeh-Hesary F (2022) Role of green finance in improving energy efficiency and renewable energy development.Energ Effi 15(2):14
24. 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. J Clean Prod 277:122844
25. van Eck, N. J., & Waltman, L. (2014). Visualizing bibliometric networks. In Y. Ding, R. Rousseau, & D. Wolfram (Eds.), Measuring scholarly impact: Methods and practice (pp. 285–320). Springer International Publishing. https://doi.org/10.1007/978-3-319-10377-8_13
26. Taghizadeh-Hesary, F., & Yoshino, N. (2019). The way to induce private participation in green finance and investment. Finance Research Letters, 31, 98–103. https://doi.org/10.1016/j.frl.2019.04.016
27. Taghizadeh-Hesary, F., Li, Y., Rasoulinezhad, E., Mortha, A., Long, Y., Lan, Y., Zhang, Z., Li, N., Zhao, X., & Wang, Y. (2022). Green finance and the economic feasibility of hydrogen projects. International Journal of Hydrogen Energy. https://doi.org/10.1016/j.ijhydene.2022.01.111
28. Taghizadeh-Hesary, F., Yoshino, N., & Phoumin, H. (2021). Analyzing the characteristics of green bond markets to facilitate green finance in the post-COVID-19 world. Sustainability, 13(10), 5719. https://doi.org/10.3390/su13105719
29. Wu X, Sadiq M, Chien F, Ngo T, Nguyen A, Trinh T (2021) Testing role of green financing on climate change mitigation: evidences from g7 and e7 countries. Environ Sci Pollut Res 28(47):66736–66750. https:// doi. org/ 10. 1007/ s11356- 021- 15023-w
30. Zakari A, Khan I (2022) The introduction of green finance: a curse or a benefit to environmental sustainability? Energy Research Letters 3(3). https:// doi. org/ 10. 46557/ 001c. 29977
31. Zhang, D., Zhang, Z. and 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.
32. Zhou C, Qi S (2023) Does green finance restrain corporate financialization? Environ Sci Pollut Res. https:// doi. org/ 10. 1007/s11356- 023- 27476-2