Purpose This study aims to identify, map and analyze the intellectual and structural development of carbon market research using bibliometric analysis. It seeks to provide a comprehensive overview of how the field has evolved and to highlight emerging linkages between environmental policy, financial systems and sustainability transition. Design/methodology/approach This qualitative research applies bibliometric analysis to published articles indexed in Scopus from 2000 to July 2024. VOSviewer and Biblioshiny are used to visualize publication trends, citation networks and keyword cooccurrences, enabling the identification of influential authors, institutions and research clusters within the carbon market domain. Findings The results show a significant increase in research on the carbon market over the past two decades. China and the United States are the leading contributors and collaborators, with strong institutional and author networks. Keyword mapping reveals four dominant research themes: carbon market policy, carbon and environment, financial carbon market and carbon trading. The analysis also indicates a gradual shift from policy-oriented studies toward research linking carbon markets with financial mechanisms and sustainability objectives. Practical implications The findings provide insights for governments, regulators, corporations and investors to strengthen policy coordination, enhance market transparency and develop innovative financial instruments in the carbon market. Originality/value This study provides an updated, structured mapping of global carbon market research, emphasizing its role as a bridge between environmental governance and financial systems. It also identifies potential directions for future empirical research, particularly in market efficiency, risk assessment and carbon pricing in developing economies.
Hanafi et al. (Thu,) studied this question.