Green finance gap in green buildings : a scoping review and future research needs

Abstract

Green buildings, although critical to climate change mitigation, have a huge investment deficit. Green finance provides a viable option for bridging the green buildings investment gap. Despite the benefits of green finance in green buildings (GF-in-GBs), limited attention has been paid to this research area. To provide an overview of and map the area for the first time, this study conducted a systematic scoping review. Systematic searches across the five databases of Scopus, the Web of Science, ScienceDirect, Google Scholar, and normal Google identified a total of 28 relevant studies, including both the grey and academic literature. Study selection and data charting were conducted independently by two reviewers using standardized forms, with disagreements resolved through discussions. General and methodological characteristics of GF-in-GBs research were mapped. Results indicated that this is a highly under-researched and under-invested area. Asia has so far however contributed most. Previous studies embraced a variety of research designs, but most were content or report analysis-based, with limited empirical work. Based on identified gaps this study suggested future research directions, including (1) green incentives for GF-in-GBs, (2) GF-in-GBs rating software, (3) AI-enabled GF-in-GBs performance assessment software, and (4) intelligent GF-in-GBs cost-benefit analysis framework. The findings of this study provide an understanding of the status quo and future needs of GF-in-GBs, which would help researchers, policymakers, and practitioners improve and promote the implementation of green finance for promoting green buildings to combat climate change.