Green banking, sustainability and COVID-19: a systematic literature review

Purpose This study presents a systematic literature review on green banking (GB) and sustainability from 2012 to 2024, filtering 45 out of 561 research publications. Design/methodology/approach Using NVivo and Biblioshiny, the study employed a combination of bibliometric analysis and thematic analysis, representing a novel approach in this field. Findings The analysis of ‘term frequency' results has indicated that the term “green banking” has gained significant attention during the peak of the COVID-19 pandemic, followed by sustainability and green finance. This suggests that approximately 12.5% of the literature on GB has emerged shortly after the first wave of the COVID-19 crisis. Cluster analysis and network analysis has divided the GB articles into two major clusters and one minor cluster. Most studies cover titles such as “sustainable”, “sustainable development” and “sustainability.” However, there is a significant gap in research on the theme of GB. Aside from legitimacy and stakeholder theories, no clear theoretical frameworks have yet been published in the field of GB. Among all categories of publishers, Elsevier ranks highest for publishing journal articles on “green” topics. According to publication output by country, China leads with 17 publications, followed by Malaysia with 11, and both Australia and India with nine each. Practical implications The in-depth research on GB provides fresh insights for policymakers and academics regarding future research directions. Originality/value This study is likely the first to incorporate both bibliometric and thematic analysis to explore the growing phenomenon of GB. Furthermore, none of the existing banking literature explicitly addresses the relevant questions and themes that could benefit future researchers and policymakers.