Greenwashing and ESG: Bibliometric analysis and future research agenda

Abstract

The current paper aims to explore key issues from a qualitative perspective to understand the determinants and potential impacts of greenwashing on ongoing ESG practices within the business community. The systematic literature review and bibliographic coupling analysis classify and examine research on ESG and greenwashing from 2017 to 2024. PRISMA framework was employed to scrutinise the relevant literature. VOSviewer and RStudio were employed to conduct thematic clustering, factorial analysis, and keyword citation analysis, leading to the identification of seven distinct research clusters. The study identifies key trends and emerging topics, offering valuable insights into lesser-known dimensions of greenwashing and ESG. The study emphasises capital market efficiency and the role of ESG disclosures in minimising information asymmetry and mispricing in equity markets. The study suggests enabling ESG auditing as a mechanism to address greenwashing, with a focus on improving transparency and accountability.

Keywords Decoupling, Environmental, ESG, Greenwashing, Social and governance disclosures