Nexus Between Financial Inclusion and Environmental Sustainability

Hamad Raza (), Ahsan Riaz (), Behrooz Gharleghi () and Nimra Riaz ()
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Hamad Raza: Government College University Faisalabad
Ahsan Riaz: Government College University Faisalabad
Behrooz Gharleghi: Module Leader, Arden University, Berlin Campus
Nimra Riaz: Government College University Faisalabad

A chapter in Financial Resilience and Environmental Sustainability, 2025, pp 267-297 from Springer

Abstract: Abstract The interaction between financial inclusion and environmental sustainability has gained considerable interest in recent years due to their potential coalitions. The primary objective of this systematic literature review is to provide a thorough and all-encompassing examination of the current body of research on the correlation between financial inclusion and environmental sustainability. The study seeks to identify and highlight the principal findings and insights from the existing literature on this subject matter. The methodology used for this review is based on the PRISMA statement, and bibliometric analysis was performed using the R-Bibliometric package (Biblioshiny). An extensive search of academic databases in Scopus was executed using different combinations of keywords, which resulted in identifying 1320 records. After screening the records for title, abstract and full text, 239 relevant studies were included for analysis. The results of this study demonstrate an increasing amount of scholarly work acknowledging the potential of financial inclusion in contributing to the achievement of environmental sustainability objectives. The findings of the bibliometric analysis show that China is the leading country with 1506 citations on this topic, followed by the United Kingdom with 861 citations. Moreover, the keywords that co-occurred most frequently in these documents were Financial Inclusion (77 times), Environmental Sustainability (46 times), Economic Development and Sustainable Development (24 times) each, followed by other author keywords. Additionally, the review identifies prospective challenges and barriers hindering synergies between financial inclusion and environmental sustainability. These include limited financial literacy, inadequate regulatory frameworks and the need for innovative financial products and services. It provides policymakers, researchers and practitioners with a comprehensive understanding of the current knowledge and identifies potential avenues for further research and policy interventions.

Keywords: Financial inclusion; Environmental sustainability; Environmental degradation; Inclusive innovation; PRISMA flow chart (search for similar items in EconPapers)
JEL-codes: O16 Q56 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-4269-4_12

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DOI: 10.1007/978-981-96-4269-4_12

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