| Title | Can green finance facilitate Industry 5.0 transition to achieve sustainability? A systematic review with future research directions |
|---|---|
| ID_Doc | 27085 |
| Authors | Dhayal, KS; Giri, AK; Kumar, A; Samadhiya, A; Agrawal, S; Agrawal, R |
| Title | Can green finance facilitate Industry 5.0 transition to achieve sustainability? A systematic review with future research directions |
| Year | 2023 |
| Published | Environmental Science And Pollution Research, 30.0, 46 |
| Abstract | Most of the world's rising carbon emission results from industrial activities. Previous industrial revolutions did not put much thought into safeguarding the natural world. Governments worldwide have been continuously implementing regulations and policies for the mitigation of climate change to promote sustainable development. To achieve decarbonization, the climate change discussion is merged with Industry 5.0 (I5.0) where green finance (GF) plays a crucial role. This technological metamorphosis of transition from Industry 4.0 (I4.0) to I5.0 will affect humans and their society. I5.0 forms a symbiotic relationship with different aspects of Society 5.0 (S5.0) such as social (human. machine centricity), ecological (zero emissions), and technological (green innovations). Thus, the I5.0 transition prioritizes greening the economy in pursuit of achieving S5.0. Through a systematic review of 196 articles, this research study concisely summarizes the rapidly expanding body of information. The research domain gave six major themes: Green Innovations (GI), Green Manufacturing Practices (GMP), Circular Economy (CE), Green Supply Chain Management (GSCM), Emerging Economies, and Net Zero Economy (NZE). Finally, a framework has been provided that illustrates the supporting role of GF for the I5.0 transition eventually followed by S5.0. This study provides an overview of these themes with their propositions and future research directions. The present study addresses the knowledge gap by providing valuable contributions to the burgeoning research domain of I5.0 and GF. Moreover, it aims to garner the attention of different stakeholders to integrate these two concepts of research to attain the goal of sustainable development. |
Similar Articles
| ID | Score | Article |
|---|---|---|
3808
|
Patyal, VS; Sarma, PRS; Modgil, S; Nag, T; Dennehy, D Mapping the links between Industry 4.0, circular economy and sustainability: a systematic literature review(2022)Journal Of Enterprise Information Management, 35, 1 | |
| 4112
|
Neto, GCD; Silva, AD; Filho, MG How can Industry 4.0 technologies and circular economy help companies and researchers collaborate and accelerate the transition to strong sustainability? A bibliometric review and a systematic literature review(2023)International Journal Of Environmental Science And Technology, 20, 3 | |
| 2366
|
Kumar, B; Kumar, L; Kumar, A; Kumari, R; Tagar, U; Sassanelli, C Green finance in circular economy: a literature review(2024)Environment Development And Sustainability, 26, 7 | |
| 6588
|
Agrawal, R; Agrawal, S; Samadhiya, A; Kumar, A; Luthra, S; Jain, V Adoption of green finance and green innovation for achieving circularity: An exploratory review and future directions(2024)Geoscience Frontiers, 15, 4 | |
| 35798
|
Ghobakhloo, M; Iranmanesh, M; Grybauskas, A; Vilkas, M; Petraite, M Industry 4.0, innovation, and sustainable development: A systematic review and a roadmap to sustainable innovation(2021)Business Strategy And The Environment, 30, 8 | |
| 4312
|
Dantas, TET; de-Souza, ED; Destro, IR; Hammes, G; Rodriguez, CMT; Soares, SR How the combination of Circular Economy and Industry 4.0 can contribute towards achieving the Sustainable Development Goals(2021) | |
| 26087
|
Mamedova, N; Bezveselnaya, Z; Ivleva, MI; Komarova, V Environmental Management For Sustainable Business Development(2022)Entrepreneurship And Sustainability Issues, 9, 3 | |
| 3862
|
Strazzullo, S; Pioggerella, S; Cricelli, L The Role of Industry 4.0 Enabling Technologies in Circular Economy Practices: Towards the Triple Bottom Line of Sustainability(2022) | |
| 3496
|
Bai, CU; Orzes, G; Sarkis, J Exploring the impact of Industry 4.0 technologies on social sustainability through a circular economy approach(2022) | |
| 71449
|
Ghobakhloo, M; Iranmanesh, M; Morales, ME; Nilashi, M; Amran, A Actions and approaches for enabling Industry 5.0-driven sustainable industrial transformation: A strategy roadmap(2023)Corporate Social Responsibility And Environmental Management, 30.0, 3 |