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Unveiling Sustainable Finance: Frameworks and Challenges: A Systematic Literature Review
[Dévoiler la finance durable : taxonomies et défis : une revue de littérature systématique]

Author

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  • Hasnaa Gaboun

    (UM5 - Université Mohammed V de Rabat [Agdal])

  • Mohammed Hassainate

    (UM5 - Université Mohammed V de Rabat [Agdal])

Abstract

Sustainable finance has emerged as a pivotal model for aligning financial practices with environmental, social, and governance (ESG) considerations. Simply put, it is "finance for sustainability" (Migliorelli, 2021). This paper presents a systematic literature review (SLR) from 2005 to 2024 about sustainable finance, its instruments, strategies, frameworks, and challenges. For this purpose, we relied on the PRISMA framework to conduct the review process. We used Scopus as a primary database for article selection. Further literature was identified using Google Scholar, JSTOR, and citation chaining. The final pool consisted of 36 documents, extracted and analysed using Zotero and NVIVO. The review highlights the main instruments of sustainable finance (green and sustainability-linked bonds and loans), its strategies (positive, negative, norm-based, and transversal screenings), its frameworks (PRB, PRI, and TCFD) as well as its challenges.

Suggested Citation

  • Hasnaa Gaboun & Mohammed Hassainate, 2025. "Unveiling Sustainable Finance: Frameworks and Challenges: A Systematic Literature Review [Dévoiler la finance durable : taxonomies et défis : une revue de littérature systématique]," Post-Print hal-05245574, HAL.
    • Handle: RePEc:hal:journl:hal-05245574
    DOI: 10.5281/zenodo.17056101
    Note: View the original document on HAL open archive server: https://hal.science/hal-05245574v1
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