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Nexus Between Financial Inclusion and Environmental Sustainability

In: Financial Resilience and Environmental Sustainability

Author

Listed:
  • Hamad Raza

    (Government College University Faisalabad)

  • Ahsan Riaz

    (Government College University Faisalabad)

  • Behrooz Gharleghi

    (Module Leader, Arden University, Berlin Campus)

  • Nimra Riaz

    (Government College University Faisalabad)

Abstract

The interaction between financial inclusion and environmental sustainability has gained considerable interest in recent years due to their potential coalitions. The primary objective of this systematic literature review is to provide a thorough and all-encompassing examination of the current body of research on the correlation between financial inclusion and environmental sustainability. The study seeks to identify and highlight the principal findings and insights from the existing literature on this subject matter. The methodology used for this review is based on the PRISMA statement, and bibliometric analysis was performed using the R-Bibliometric package (Biblioshiny). An extensive search of academic databases in Scopus was executed using different combinations of keywords, which resulted in identifying 1320 records. After screening the records for title, abstract and full text, 239 relevant studies were included for analysis. The results of this study demonstrate an increasing amount of scholarly work acknowledging the potential of financial inclusion in contributing to the achievement of environmental sustainability objectives. The findings of the bibliometric analysis show that China is the leading country with 1506 citations on this topic, followed by the United Kingdom with 861 citations. Moreover, the keywords that co-occurred most frequently in these documents were Financial Inclusion (77 times), Environmental Sustainability (46 times), Economic Development and Sustainable Development (24 times) each, followed by other author keywords. Additionally, the review identifies prospective challenges and barriers hindering synergies between financial inclusion and environmental sustainability. These include limited financial literacy, inadequate regulatory frameworks and the need for innovative financial products and services. It provides policymakers, researchers and practitioners with a comprehensive understanding of the current knowledge and identifies potential avenues for further research and policy interventions.

Suggested Citation

  • Hamad Raza & Ahsan Riaz & Behrooz Gharleghi & Nimra Riaz, 2025. "Nexus Between Financial Inclusion and Environmental Sustainability," Springer Books, in: Firdous Ahmad Malik & Samriti Mahajan & Devendra Kumar Yadav & Naveed Ahmad Lone & Shahid Amin (ed.), Financial Resilience and Environmental Sustainability, pages 267-297, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-4269-4_12
    DOI: 10.1007/978-981-96-4269-4_12
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    More about this item

    Keywords

    Financial inclusion; Environmental sustainability; Environmental degradation; Inclusive innovation; PRISMA flow chart;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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