This study aims to critically examine and clarify the interconnections between green finance and distributed ledger technologies (DLTs), focusing on their contribution to climate actand sustainability enhancement. Grounded in Innovation Diffusion Theory, the study analyzes how DLTs are being adopted, disseminated and integrated into green finance and sustainability initiatives across different countries and research domains, thereby uncovering patterns of technological diffusion and institutional uptake in support of environmental objectives.
The research uses a bibliometric analysis to analyze the evolving landscape of DLT’s impact on climate change, green finance and sustainability. Drawing on data from the Scopus database and analyzed through VOSviewer, the study aims to provide a comprehensive overview of the field’s evolution, highlighting successes and challenges in integrating DLT with sustainable finance practices.
The study highlights blockchain and DLTs as pivotal in tackling global sustainability and climate change challenges, emphasizing their role in fostering sustainable development. Through an analysis of two decades of research, including key contributors and trends, and leveraging the Innovation Diffusion Theory, it offers valuable insights into the adoption and diffusion of these technologies in green finance and climate action, suggesting a pathway toward a more sustainable and technologically harmonized future.
This study underscores the urgent need for policymakers, industry stakeholders and academia to embrace blockchain and DLTs for tackling climate change and enhancing sustainability. It advocates for cross-sector collaboration, increased R&D investment, supportive regulatory environments and educational initiatives to expedite the adoption and effective application of these technologies, aiming to achieve global sustainability goals more efficiently.
This research contributes uniquely to the existing body of knowledge by providing a comprehensive analysis of blockchain and DLTs in the context of global sustainability and climate change. It bridges the gap between technological innovation and environmental action, offering a novel perspective on the application of these technologies in green finance and climate initiatives.
