Envision a future where our daily lives are propelled by renewable energy in miraculous ways. Observe the revolutionary innovations that are currently taking place in the realm of renewable energy.

This research study examines the role of green energy innovation initiatives (GEII) in promoting environmental sustainability. By analysing 152 articles from 2002 to 2023, the study identifies six emerging themes: renewable energy, energy efficiency, sustainable waste management, green transportation, net-zero buildings, and green and sustainable agriculture. It emphasizes the importance of green finance in supporting GEII and discusses the challenges that hinder their implementation. The study proposes future research questions and identifies research gaps, highlighting the need for comprehensive approaches that integrate financial mechanisms and supportive policy frameworks for achieving environmental sustainability through green energy innovation.

Key Insights

• Green energy innovation initiatives (GEII) focus on renewable energy, energy efficiency, sustainable waste management, green transportation, net-zero buildings, and green and sustainable agriculture.
• Green finance plays a crucial role in supporting GEII.
• Challenges such as high upfront costs, lack of awareness and knowledge, inadequate policies, and supply chain issues hinder the widespread adoption of GEII.
• Institutional theories provide insights into the factors influencing the acceptance and usage of green technologies.
• Theoretical and policy implications include identifying research gaps, developing effective policies and regulations, and promoting awareness and knowledge about the benefits of green technologies.

Every single nation on the planet has been confronted with the crisis that is the problem of climate change. They have been working to address this problem by concentrating on the implementation of projects for green energy innovation and creating a sustainable future through environmental sustainability. Our primary objective in this research project is to investigate the role that green finance plays in the development of green energy innovations. These innovations are now being implemented in a variety of industries and areas all over the world in order to advance environmental sustainability. For the purpose of gaining an understanding of the current state of knowledge, the study conducted a comprehensive literature review, which involved the analysis of 152 papers pertaining to this subject domain. Scopus- indexed research articles from the years 2002 to 2023 are the focus of the current study, which investigates these articles. The development of six emerging themes, as well as the possible impact of green efforts on environmental sustainability, have been investigated in order to gain a better understanding of these themes. A number of different institutional theories have been researched in order to gain an understanding of their connection to the research topic that has been investigated. In this work, we have outlined a number of obstacles that must be overcome in order to accomplish the rapid deployment of environmentally friendly innovations. In conclusion, proposed questions for future study have been formulated on the basis of the findings from the existing body of literature and the research gaps that currently exist.

Several different aspects of this study's contribution are included. Its primary objective is to provide a complete overview of the existing GEII, with the end goal of acting as a repository of knowledge for academics, policymakers, and industry practitioners. Secondly, identifying the research gaps and regions that have not been thoroughly investigated also calls for additional investigation; hence, this study lays the framework for future research endeavors. It is anticipated that the insights that are generated from this research will be of assistance in the processes of strategic decision-making, which will in turn serve to stimulate the creation and implementation of GE solutions that are more effective and sustainable. As a comprehensive strategy to promote sustainable development while reducing environmental implications, the concept of green growth and a green economy has attracted significant attention as a means of achieving this goal. The concept of green growth emphasizes the incorporation of environmental factors into the formation of economic policy. This ensures that economic progress is achieved in a manner that is consistent with the preservation of the environment. This strategy is in line with the objectives that are outlined in the Sustainable Development Goals (SDGs) of the United Nations, specifically SDG 7 (affordable and clean energy), SDG 9 (innovations), SDG 11 (sustainable cities), and SDG 13 (climate action). This highlights the inherent interrelationship that exists between environmental sustainability and broader developmental goals.

The purpose of this research study was to conduct a comprehensive analysis of the existing literature in order to understand the role that geological information plays in fostering sustainability. An analysis of the existing body of literature has revealed the existence of six primary topic groups. It was determined that these many dominating themes, which are the primary contributors to carbon emissions, were investigated. Over the course of the previous few years, greater proportions of GE innovations have been implemented in these domains. We have seen a considerable increase in the amount of energy that is used, as well as in the amount of greenhouse gas emissions. Not only does the rigorous SLR provide a comprehensive overview of the current state of knowledge, but it also sheds light on the developmental trajectories and provides a roadmap for future research potentials. This goes beyond the simple act of synthesising the work that has already been done. The purpose of this study is to give policymakers,  researchers, and industry stakeholders with essential insights by conducting an in-depth analysis of the present status of research, identifying trends, and evaluating the effectiveness of various programs across the sector. To ensure that future generations will be able to live in a society that is environmentally friendly and sustainable, it is imperative that they work together and make a concerted effort to increase the adoption, utilization, and development of such GI. Furthermore, by investigating the many different institutional theories, the research offers a theoretical perspective that might assist in comprehending the dynamics that may be involved in the implementation of GI initiatives. This review study also emphasizes the significance of doing additional research studies of this kind, which can examine the efficacy and efficiency of activities that are environmentally friendly. In conclusion, it is important to point out that the availability of financial resources to support such projects is both highly desired and extremely necessary in order to maintain these efforts. Therefore, the purpose of this study is to be more than just a review; it intends to be a catalyst for possible future endeavors by laying a solid foundation for the various stakeholders by assisting them in making decisions based on accurate information and formulating policies to make advancements towards   a future that is both sustainable and resilient.