Sustainable Banking: A Literature Review and Bibliometric Analysis

Abstract

Sustainable banking is a banking model that integrates environmental, social and governance (ESG) criteria into its operations and decision-making processes. It is focused on promoting sustainable development by considering the long-term impact of its activities on society, the economy and the environment. During the beginning of 80’s, the extensive literatures on sustainable banking were unproductive and this issue continues to the end of 2000’s. Based on this situation, the researchers used Bibliometric analysis of various literatures of about 719 studies which includes articles, reviews, conference papers, book chapters from Scopus and Web of Science (WoS) categories during the period 2000–2021. About 2324 studies were identified from the database. To undergo the research, we acknowledged the main domains which are closely related to sustainable banking from its evolution. The main domains such as corporate social responsibility, banking sector, economic growth, ethical banking, financial stability, green banking, sustainable finance, banking industry, banking system, micro finance and banking regulations. Further we mapped with this into VOS Viewer and analysed how these domains can contribute to sustainability in the banking sector. It is found that, several climatic risks are faced by the banking sector all over the world and hence, the financial sector must make necessary alterations to environmentally friendly strategies to climate sensitive sectors. Sustainability is still under a question mark in the banking sector as several advancements are being introduced not only in technology but also in physical appearance day by day. Finally, to say, the banks must engage in green sustainable strategies towards sustainable banking in the banking industry.