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Perspectives on Integrating Risk Management and Sustainability for Financial Performance: A Systematic Literature Review

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  • Carmen Elena Anton

    (Department of Finance, Accounting and Economic Theory, Transilvania University of Brașov, 500036 Brasov, Romania)

  • Camelia Mirela Baba

    (Department of Finance, Accounting and Economic Theory, Transilvania University of Brașov, 500036 Brasov, Romania)

  • Oana-Andreea Bucșoiu

    (Interdisciplinary Doctoral School, Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500036 Brasov, Romania)

Abstract

In a continuously dynamic economy, both risk management and sustainability are elements that must be constantly monitored. This study analyzes the link between risk management, sustainability, and the financial performance of companies through a systematic literature review of key articles from bibliographic databases. A total of 9092 publications indexed in the Web of Science database (2020–2024) were analyzed using bibliometric analysis with VOSviewer. Findings suggest a positive relationship between effective risk management, sustainable business practices, and financial performance. Firms that integrate risk assessment into sustainability strategies achieve greater resilience and improved outcomes. Research highlights the importance of transparency in risk identification and reporting, particularly in sustainability reports, as a driver of long-term performance and value creation. The study also identifies disparities in implementation across industries and regions, with emerging markets facing structural challenges in adopting comprehensive risk–sustainability frameworks. These findings emphasize the need for sector-specific risk strategies and stronger policy support to maximize financial benefits. This research provides valuable insights for financial managers and researchers. The field remains dynamic, offering new perspectives for future studies and policy development.

Suggested Citation

  • Carmen Elena Anton & Camelia Mirela Baba & Oana-Andreea Bucșoiu, 2025. "Perspectives on Integrating Risk Management and Sustainability for Financial Performance: A Systematic Literature Review," Sustainability, MDPI, vol. 17(8), pages 1-25, April.
    • Handle: RePEc:gam:jsusta:v:17:y:2025:i:8:p:3456-:d:1633688
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    References listed on IDEAS

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