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Mapping 26 years of climate change research in finance and accounting: a systematic scientometric analysis

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Abstract

Climate change and climate finance continue to attract substantial research interest in several dimensions and categories through COVID-19 breakout and resulting disruptions were crucial. An in-depth scientometric analysis was undertaken to gain concise insights on evolution and publication trends of this multi-dimensional field. Corpus of 657 articles, extracted from Web of Science from 1995 to 2020, were used to identify networks of co-authorship, keywords, subject categories, institutions, and countries engaged in publishing on climate finance along with co-citation and cluster analysis. Networks and interactive visualizations created using CiteSpace revealed new research areas where climate finance may be beneficial along with potential directions of development for climate finance discipline. We identify carbon neutrality, accounting for sustainability, planetary boundaries framework, sustainable finance, managing climate risk for third pole, financial innovation and green finance, green swans, COVID pandemic and corporate law and governance in climate finance as emerging domains of climate finance research, seeking overwhelming research attention globally.

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The datasets generated and/or analyzed during the current study are available from the corresponding author on reasonable request.

Notes

  1. Environment needs to be safeguarded and developed as a result of economic development (Gilbert and Zhou 2017).

  2. Climate adaptation could be funded through a range of creative financial options like catastrophe bonds; environmental impact bonds and (the more-nascent) resilience bonds.

  3. Climate-related mitigation strategies could result in lower financial valuation or declined credit ratings for enterprises that broke rules.

  4. Decisions for reducing emissions from deforestation and forest degradation in developing countries.

  5. Bracking and Leffel (2020) provided critical evaluation of conceptual framework on climate finance governance, as well as outlined institutional arrangements and governance logics that enabled climate finance.

  6. Specifically, strategic and operational planning, emphasizing accounting scholars' societal responsibility to increasingly incorporate climate change mitigation into accounting.

  7. International Sustainability Standards Board.

  8. Government, financial institutions, businesses, and consumers.

  9. PRISMA is the minimum set of elements for systematic reviews and meta-analyses that is based on evidence.

  10. Bhandary et al. (2021) examined working of climate financing policy practically by analyzing performance of nine types of climate finance policies: target lending, green bond policies, loan guarantee programs, weather indexed insurance, feed-in-tariffs, tax credits, national development banks, disclosure policies, and national climate funds.

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Contributions

All authors contributed to the study conception and design. Material preparation, data collection, and analysis were performed by Shikha Gupta and Gurmani Chadha. The first draft of the manuscript was written by Shikha Gupta, and all authors commented on previous versions of the manuscript. All authors read and approved the final manuscript.

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Correspondence to Shikha Gupta.

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Singhania, M., Gupta, S., Chadha, G. et al. Mapping 26 years of climate change research in finance and accounting: a systematic scientometric analysis. Environ Sci Pollut Res 30, 83153–83179 (2023). https://doi.org/10.1007/s11356-023-27828-y

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  • DOI: https://doi.org/10.1007/s11356-023-27828-y

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