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Green Bonds in Sustainable Finance: A Bibliometric and Meta‐Analysis of Research Trends, Challenges, and Emerging Market Dynamics (2014–2023)

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  • Shivam Azad
  • S. L. Tulasi Devi

Abstract

This study provides a dual bibliometric and meta‐analytic examination of green bonds from 2014 to 2023, mapping both the scholarly landscape and market outcomes to identify key trends, gaps, and actionable insights. First, a bibliometric analysis of 466 documents reveals a dramatic surge in publications following the 2015 Paris Agreement, driven by major policy milestones (e.g., EU Green Deal) and growing investor focus on climate risk. China emerges as the leading contributor, while Africa and Latin America remain markedly underrepresented. Influential authors, leading journals, and core research themes, including greenwashing concerns and digital‐technology integration, are highlighted. Second, a meta‐analysis synthesizes issuance data, showing a shift toward larger deal sizes (particularly in developed markets); concentrated proceeds allocations to energy, transport, and buildings; and severe underinvestment (

Suggested Citation

  • Shivam Azad & S. L. Tulasi Devi, 2026. "Green Bonds in Sustainable Finance: A Bibliometric and Meta‐Analysis of Research Trends, Challenges, and Emerging Market Dynamics (2014–2023)," Business Strategy and the Environment, Wiley Blackwell, vol. 35(2), pages 2143-2166, February.
    • Handle: RePEc:bla:bstrat:v:35:y:2026:i:2:p:2143-2166
    DOI: 10.1002/bse.70268
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