Trends and insights in sustainable investment: a comprehensive literature review

Purpose The purpose of this study is to investigate past and present trends of sustainable investment (SI) through bibliometric analysis, meta-analysis, and a systematic literature review. Based on the analysis, the authors suggest avenues for future research in SI. Design/methodology/approach Drawing from a comprehensive data set of 2,177 articles from Scopus and Web of Science databases, this study offers valuable insights into key authors, documents, sources, countries and keywords that have shaped SI research between 1991 and 2023. The authors also conducted a meta-analysis of each of these clusters using the meta fuzzy effect size function to establish a relationship within the clusters. Findings The findings reveal a surge in publications dedicated to SI. Uncovering emerging themes and topics, such as “clean energy,” “green bonds,” “sustainable development,” “green investment” and “sustainable finance,” provides a deeper understanding of focal points that have garnered substantial attention within the field. The authors use co-occurrence analysis to identify three prominent clusters of keywords associated with SI evolution and development. These clusters encompass the following themes: SI and performance, SI and environmental, social and governance, and SI and sustainable development, each shedding light on specific aspects and dimensions of the field’s progression. Originality/value The authors conclude this study by suggesting future research directions. This study provides a comprehensive snapshot of the current state of SI research and can be a catalyst for further inquiry into this dynamic domain.