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Purpose

The present study aims to explore the extant literature in the field of green bonds, that is environmentally friendly instrument and classify the literature on green bonds in terms of modalities and efficacies. The study aims to explore the knowledge to find the notable authors, co-authors and presents the future research agenda.

Design/methodology/approach

The literature search was done on Scopus, extracting 968 relevant articles. The search covered the period 2008–2024. The authors used VOSviewer software to find and present the bibliometric analysis of authors.

Findings

The Compounded Annual Growth Rate for the articles published in green bonds was found to be 33.09% over the study period. The top three authors in terms of citations are Naeem M.A., Tiwari A. K. and Reboredo J.C. The majority of the articles have been written in the area of the stock market, capital market, finance and climate. Keywords, “Green Bonds”, “Green Finance” and “Sustainable Finance” were most frequently used words.

Research limitations/implications

The study is limited to the searched keywords along with the database used. The analysis also lays down future research directions in the area of green bonds and gives managerial implications of government policy, regulation, handling investors' psychology for socially responsible investing, technology, etc.

Social implications

The environment is a social concern, and green bonds help to provide financing and capital to especially green projects. Therefore, the study and its results are important from a societal perspective.

Originality/value

Green financing approaches like green bonds tend to incentivize and direct capital toward projects that promote environmental sustainability. There is a lack of comprehensive literature review in the area of green bonds in the existing body which highlights the originality of the study.

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