Mapping the carbon finance research: A bibliometric exploration of innovation in sustainable finance

Document Type

Article

Publication Date

3-1-2025

Abstract

Carbon finance has become an essential mechanism for addressing climate change through market-based green innovation and mechanisms, including carbon pricing, emissions trading system (ETS), and carbon offset markets. This paper conducts a bibliometric review that charts the evolution of carbon finance research by identifying trends, influential contributors, and thematic clusters within the fast-growing body of research. Using a comprehensive dataset of academic publications, the study traces the historical trajectory of carbon finance from its early conceptual foundations to its current role within corporate sustainability and financial markets. It then isolates the key research themes that pertain to carbon pricing, corporate carbon disclosure, the financialization of carbon, and the role of carbon finance within developing economies. The geographical distribution and collaborative networks are highly concentrated in Europe, the United States, and China, with international collaboration playing an important role in driving this scientific field forward. Among these, some emerging trends highlighted in the paper will be the integration of carbon finance with sustainable finance, digitalization innovation of the carbon market, and climate justice. These findings provide valuable insight into the intellectual structure of carbon finance and further extend an understanding of how it has turned into a global approach to dealing with climate change.

Publication Title

Development and Sustainability in Economics and Finance

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