Green Finance and Green Innovation Literature: A Hybrid Review and Future Research Agenda

This study provides a comprehensive overview of the academic literature surrounding green finance and green innovation (GI) using a hybrid methodology that combines bibliometric analysis and systematic literature review techniques, advances six themes and suggests future research directions. Academic papers from 2019 to 2024 taken from the Scopus database are reviewed. Citation analysis, keyword co‐occurrence, and concurrent frequency analysis were among the bibliometric approaches used to identify significant journals, authors, and developing themes. Additionally, the Theory–Context–Characteristics–Methodology (TCCM) framework was employed to identify research gaps and organize a future research agenda. Several patterns and trends are identified in this review including six main themes, that is, green finance's contribution to sustainable development; the influence of green financial policies on encouraging firms to adopt environmentally sustainable practices; the necessity of green financing for promoting environmentally friendly innovation and accelerating progress toward sustainable development goals; synergistic role of green finance, policy, digital transformation, and innovation in driving sustainable development goals; the role of green finance, innovation, and policy synergies in driving sustainable urban and environmental development; and the integration of green finance, corporate responsibility, and environmental management for advancing GI and sustainability. Practical and policy insights are also discussed.