Bridging Micro and Macro Sustainability: How Sustainable Finance Connects Corporate esg to Sustainable Development Goals

Abstract

ABSTRACT Sustainable finance (SF) has increasingly been conceptualized in the literature as a mechanism linking firm‐level ESG practices to broader sustainable development outcomes. However, the field remains theoretically fragmented, with limited integrated mapping of micro–SF–macro linkages. Using scientometric and bibliometric techniques, this study analyzes 1,024 Scopus‐indexed publications (2004–2025) through performance analysis, keyword co‐occurrence, text mining, and bibliographic coupling. Thirteen keyword clusters reveal the intellectual structure of the field, spanning green finance, ESG performance, governance, climate policy, and energy transition. Bibliographic coupling identifies six thematic clusters that suggest how sustainable finance is theorized to link firm‐level actions with macro‐level sustainability transformations. Despite rapid post–Paris Agreement growth, theoretical and methodological coherence remains limited. The study outlines future research directions, emphasizing disclosure harmonization, causal identification, innovation–policy alignment, and multi‐level approaches. Accordingly, the findings capture patterns in the literature rather than empirically verified causal relationships.

The authors' abstract, as published at the source. Journal of Economic Surveys, 2026 · DOI ↗