Environmental credit products: Where do we stand? A response from an academic content analysis

P. Murè, S. Giorgio, V. Antonelli and L. Bittucci

The Quarterly Review of Economics and Finance, 2025, vol. 100, issue C

Abstract: Concerns of the detrimental impacts caused by climate change have led to a rapid expansion in research on sustainability-related factors that has paralleled the proliferation of regulations by various states and authorities. In light of this, the present study primarily focuses on banks’s “environmental” credit products, which recent market research has exhibited significant and growing volumes. The aim is to understand which aspects of these two forms of environmental financing - Green Loans and Sustainability-Linked Loans the existing research have been analyzed. Using content analysis, we conducted a thorough literature review of academic studies. The most intriguing finding from our work is that the provision and adoption of environmental credit products has preceded the implementation of precise legislation to mitigate risks such as greenwashing. Moreover, our findings prove that most research focuses on strategy and performance while only one study covers the aspects related to organization. This research could prove to be a valuable resource for regulators, academics, and banks by providing a comprehensive and precise overview of the work done so far, highlighting the objectives, methodologies, and results achieved.

Keywords: bank; green loan; sustainability linked loan; double materiality; companies; financial regulation (search for similar items in EconPapers)
JEL-codes: F64 G21 G29 O44 P48 Q56 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:100:y:2025:i:c:s1062976924001613

DOI: 10.1016/j.qref.2024.101955

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