From Traditional to Sustainable and Green Finance – A Bibliometric and Comparative Approach

This study explores the intellectual evolution from traditional finance to sustainable and green finance through a bibliometric and comparative analysis. It is based on peer-reviewed articles indexed in Web of Science Core Collection published in English between 1990 and 2026. Through this approach, the paper maps the development of sustainable and green finance research, highlighting key thematic clusters and identifying areas where traditional and sustainable and green finance converge. The findings reveal a complex but fragmented scientific landscape. Traditional finance remains highly concentrated around a small set of core journals and authors, reflecting its maturity and theoretical consolidation. In contrast, sustainable finance shows moderate concentration, while green finance is more dispersed, highlighting its interdisciplinary and evolving nature. Keyword co-occurrence and temporal analyses indicate a significant rise in sustainability and green topics, especially after 2015, driven by increasing global attention to environmental and social challenges. Despite their shared relevance, the interaction between these three streams remains limited. Each based on its own theoretical fundaments, applies distinct methodological tools and responds to different policy and regulatory environments.