Green Bonds and Sustainable Development in the Economies of G20 Countries: A Retrospective Review and Recommendations

The growing emphasis on sustainable development and environmental conservation has led to an increased interest in sustainable financing mechanisms, particularly green bonds. These instruments have become essential in addressing climate change issues, driving significant growth in green bond research, especially within the G20 countries (excluding the European Union). This study aims to provide a comprehensive understanding of the research landscape of green bonds through a bibliometric analysis of 552 articles published between 2010 and 2023 using the Scopus database. Employing VOSviewer and R-Studio for bibliographic mapping, our analysis identifies key authors, affiliations, countries and thematic areas underpinning the evolution and focal points of green bonds research. The findings reveal a significant uptick in publications over the studied period, highlighting the escalating scholarly interest and the topic’s ongoing relevance. By spotlighting prolific contributors, influential studies and prevalent themes, our study enhances the existing comprehension of green bond research in the G20 context. It also delineates the primary challenges and opportunities within this domain, offering a roadmap for future investigations. This contribution is crucial for scholars and policymakers alike, providing a foundation for advancing research and policy formulation in sustainable finance.