This study aims to examine company evaluation of environmental, social and governance (ESG) for sustainability performance and green innovation to uncover the theme’s current research development, identify themes and predict future trends.
Bibliometric analysis and a systematic literature review (SLR) were conducted on 520 publications published between 2014 and 2024. Performance analysis, context analysis and science mapping techniques using visualised graphs and charts are used to reveal the research developments, themes and trends. Subsequently, this study conducts keyword co-occurrence and cluster analyses and finds significant linkages between corporate ESG, sustainability and green innovation.
The findings confirm increased attention to ESG, sustainability and green innovation, which are on an upward trend. Four key knowledge structures were outlined, and a progression of themes was identified. In addition, gaps and future research directions are provided based on the theories, contexts, characteristics and methods framework, providing new insights.
This study proposes an “ESG + Innovation” combination strategy, suggesting that companies adopt a dual-track model of “short-term low-cost ESG practices + long-term innovation investments” to balance short-term profitability and long-term sustainable value, thereby enhancing competitive advantage.
This review offers a comprehensive overview of the connection between corporate sustainability performance, ESG and green innovation. A conceptual framework is provided to reveal their relationship filling the knowledge gap while revealing the understudied research area. The review also identifies the knowledge structure and evolutionary trends in the field, providing four dimensions of direction for academic literature.
