Jurnal Ekonomi dan Bisnis, Volume 28 No. 2 Oktober 2025, 285 - 312

Journal homepage: www.ejournal.uksw.edu/jeb
ISSN 1979-6471 E-ISSN 2528-0147

Exploring green entrepreneurship for global economic sustainability:
A bibliometric and systematic review
Bayu Prasetioa, Endang Supardib*, Ikaputera Waspadac, Navik
Istikomahd
a

Faculty of Economics and Business Education, Universitas Pendidikan Indonesia, Bandung,
Indonesia; bayuprasetio05@upi.edu
b
Faculty of Economics and Business Education, Universitas Pendidikan Indonesia, Bandung,
Indonesia; endang-supardi@upi.edu*
c
Faculty of Economics and Business Education, Universitas Pendidikan Indonesia, Bandung,
Indonesia; ikaputerawaspada@upi.edu
d
Faculty of Economics and Business Education, Universitas Pendidikan Indonesia, Bandung,
Indonesia; navik.istikomah@upi.edu

ARTICLE INFO

ABSTRAK

Article History:
Received 10-17-2024
Revised 03-15-2025
Accepted 07-02-2025

Penelitian ini mengeksplorasi peran kewirausahaan hijau dalam
mendukung keberlanjutan ekonomi global melalui tinjauan literatur
sistematis dan analisis bibliometrik. Dengan menggunakan data
dari database Scopus dan perangkat lunak VOSviewer, 19 artikel
yang relevan dianalisis untuk mengidentifikasi tren dan kontribusi
utama. Temuan menunjukkan peningkatan yang signifikan dalam
penelitian tentang kewirausahaan hijau sejak tahun 2017, yang
mencapai puncaknya pada tahun 2024, didorong oleh agenda
keberlanjutan global. Analisis tematik mengungkapkan enam peran
utama kewirausahaan hijau: mengintegrasikan nilai-nilai ekonomi
dan lingkungan, mentransformasi industri, mendorong inovasi
hijau dan kolaborasi kebijakan, menciptakan lapangan kerja hijau
dan inovasi sosial, memperkuat UMKM melalui digitalisasi yang
berkelanjutan, dan menanamkan etika dan keadilan sosial dalam
praktik bisnis. Peran-peran tersebut menyoroti kewirausahaan
hijau sebagai pendorong strategis pertumbuhan ekonomi yang
inklusif dan tangguh. Studi ini menyimpulkan bahwa
kewirausahaan hijau memberikan manfaat ekonomi dan
meningkatkan ketahanan sosial dan lingkungan. Penelitian di masa
depan didorong untuk mengeksplorasi praktik dan tantangan
sektoral, terutama di negara-negara berkembang, dan untuk
memperluas pendekatan lintas disiplin. Pemahaman yang lebih
mendalam mengenai dukungan kebijakan, inovasi teknologi, dan
dampak sosial-lingkungan sangat penting untuk memperkuat peran
kewirausahaan hijau dalam pembangunan berkelanjutan.

Kata Kunci:
Kewirausahaan hijau,
keberlanjutan ekonomi,
bibliometrik, tinjauan
sistematis
Keywords:
Green entrepreneurship,
economic sustainability,
bibliometric, systematic review

*Corresponding Author

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ABSTRACT
This study explores the role of green entrepreneurship in
supporting global economic sustainability through a systematic
literature review and bibliometric analysis. Using data from the
Scopus database and VOSviewer software, 19 relevant articles
were analyzed to identify key trends and contributions. Findings
show a significant increase in research on green entrepreneurship
since 2017, peaking in 2024, driven by global sustainability
agendas. Thematic analysis reveals six main roles of green
entrepreneurship: integrating economic and environmental values,
transforming industries, fostering green innovation and policy
collaboration, creating green jobs and social innovation,
strengthening MSMEs through sustainable digitalization, and
embedding ethics and social justice in business practices. These
roles highlight green entrepreneurship as a strategic driver of
inclusive and resilient economic growth. The study concludes that
green entrepreneurship delivers economic benefits and enhances
social and environmental resilience. Future studies are encouraged
to explore sector-specific practices and challenges, particularly in
developing countries, and to expand cross-disciplinary
approaches. A deeper understanding of policy support,
technological innovation, and socio-environmental impact is
essential to strengthen green entrepreneurship's role in sustainable
development.

INTRODUCTION
For the last few decades, economic and environmental challenges have worried
a lot of people across the globe (Brunn, 2017). The widening problem of global
environmental health alert highly motivates economists and ecologists to tackle the
issue together (Liang et al., 2024). In light of these issues, one proposed solution is
green entrepreneurship (Mondal et al., 2023). Entrepreneurial approach Development
of new environmentally friendly technologies and business ideas that combine
entrepreneurial initiatives to be environmentally protective and eco-friendly,
promoting sustainable economic development (Huang et al., 2023). Green
entrepreneurship provides innovations that are not only profitable but also relevant to
protect natural resources and minimize negative impacts on the global environment
such as climate change, pollution, and depletion of its resources (Xin & Gao, 2023).
Green entrepreneurship plays a critical role in strengthening global economic
sustainability by fostering innovative business practices that not only generate
economic benefits but also promote sustainable environmental management. This
approach ensures that businesses contribute to achieving sustainability without
compromising economic growth. The shift towards sustainable business models helps
create resilient economies that are better equipped to handle ecological and financial
crises, ultimately reinforcing long-term economic stability.

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As entrepreneurs' awareness of the environment grows, they are no longer
focused on the profit motive alone but rather on patterns of sustainability (Buzohera
& Mwakipesile, 2024). Unlike entrepreneurs of the past who were only concerned with
short-term profits and turned a deaf ear to them, today's entrepreneurs are also focused
on preserving natural resources amidst sustainable environments and sustainability
practices (Sharma et al., 2023; Khan et al., 2023). Entrepreneurship in business
activities is moving towards “green” practices by using renewable energy, waste
reclamation, and recycling systems and conserving natural resources. Green
entrepreneurship is considered an important factor in global economic sustainability
(Avelar et al., 2024).
Specifically, green entrepreneurship may further lower the global footprint of
carbon (Khezri & Muhamad, 2023). Green entrepreneurship supports mitigating
greenhouse gas emissions, a major contributor to global warming, by the adoption of
environment-friendly technologies and sustainable business practices (Khan et al.,
2023) . Much literature related to the involvement of the business sector, particularly
micro, small, and medium enterprises (MSMEs), in saving the environment has been
found (Lin & Xu, 2024). One of the solutions entrepreneurs can do to minimize
negative environmental impacts due to pollution and waste is the use of green energy
as well as recyclable product packaging (Hajam et al., 2023; Kurniawan et al., 2023).
However, in reality, the practice of green entrepreneurship has several
obstacles. Green entrepreneurs often feel limited by a lack of funding or regulations
less supportive of their business (Ameer & Khan, 2023). Therefore, the role of the
government and private sector is needed in encouraging green entrepreneurship
practices (Bensoussan et al., 2024). The government's function can be maximized
through fiscal policies, and such activities can help provide incentives for
environmentally friendly products and technologies (Xiong et al., 2024). Meanwhile,
the function of financial support from entrepreneurs is carried out by the private sector
(Long et al., 2022). This partnership is expected to encourage businesses to shift their
business ethos from conventional business practices towards more sustainable
business units (Niankara, 2022).
Looking at developed countries, the concept of green entrepreneurship has
become part of economic policy (Gawel et al., 2024). For instance, we have seen
different green entrepreneurship startup funds in Europe and North America. On the
contrary, even developing world countries began practicing this model, though with
several infrastructural and technological obstacles. As a consequence, developing
countries still stand far from most developed countries in creating any real change in
implementing green entrepreneurship as an effective concept.
This research was triggered by the growing implementation of the Sustainable
Development Goals (SDGs), where one of the indispensable contributions to meeting
the SDG targets is the resolution for sustainable consumption and production patterns

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(SDGs-12) (Shaikh et al., 2024; Opoku et al., 2022; Lorente et al., 2024). The SDGs
became a worldwide proposed mandate and have since given rise to various new
methods in different fields, one example being green entrepreneurship (Backes &
Traverso, 2022). Green entrepreneurship innovation is a way forward that describes
opportunities for entrepreneurs to market in a responsible environment. Firms engaged
in green entrepreneurship are expected to combine technological innovation and
environmentally friendly approaches to mitigate the negative impact of business
activities on the environment (Hällerstrand et al., 2023).
The background of this research is also based on changes in mindset and public
awareness of environmental concerns. Global warming has a very significant negative
impact on the environment, including an increase in the earth's temperature, forest
fires, rising sea levels, and depletion of the ozone layer (Scafetta, 2024). These
negative impacts need to be addressed immediately so as not to worsen environmental
conditions. The emergence of the concept of entrepreneurship is the answer to
changing the attitude and mindset of the community to create a better environment in
the future (Rasheed et al., 2024).
Earlier work by Mondal et al. (2023) highlighted that green entrepreneurship
contributes to both the environment and economic welfare. Regarding the
environment, green entrepreneurship practices are designed to improve energy
efficiency and waste management while promoting cleaner production processes and
innovation in resource use (including reuse or recycling). With the development of a
green economy, the ecological problem is welcome. Additionally, Green
entrepreneurship also contributes to the economic side by creating new jobs in
sustainable and recycling sectors, aiding governments to pursue policies and incentives
for backing up green entrepreneurs' lineups, and stimulating innovation that can
generate competitive advantage by companies.
Another study from Badjeena et al. (2024) has highlighted green entrepreneurs
play a role in minimizing the unnerving ecological influences against improved
entrepreneurial strategies toward environment friendly. These acts include using
environmentally sound technologies and sustainable production processes. Green
entrepreneurship can lead to a circular economy based on the eco-efficiency principle.
Moreover, green entrepreneurship can also serve as a means to provide job and
business opportunities for society to improve income levels eventually and people’s
welfare.
This study uses a bibliometric approach to analyze the contribution of literature
related to green entrepreneurship in strengthening global economic sustainability.
Against the backdrop of the urgency of achieving the Sustainable Development Goals
(SDGs), this study aims to explore trends and patterns in research focusing on green
entrepreneurship, both in terms of subjects, publications, author, and country
contributions. Through this method, the research also aims to identify the most

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influential articles, the most frequently used methodologies, and the main topics that
are frequently raised in the related literature. The research questions of this study
include: 1. What are the annual publication trends, most prolific countries, keyword
patterns, and network structures in the research on green entrepreneurship and global
economic sustainability? 2. According to the findings of recent studies, what specific
roles does green entrepreneurship play in advancing global economic sustainability?
3. What are the future research directions that can enhance the role of green
entrepreneurship in promoting global economic sustainability?
This study makes an important contribution through bibliometric analysis and
comprehensive systematic assessment. Analyzing the trends, publication patterns, and
key contributions of international researchers in the field, it aims to find the most
influential articles and key issues focusing on green entrepreneurship studies. Through
this approach, it is hoped that the impact will no longer only provide deep insights into
how green entrepreneurship efforts support the realization of the SDGs but also guide
future researchers and practitioners in promoting more sustainable innovation
globally.

LITERATURE REVIEW
Green Entrepreneurship
Green Entrepreneurship (GE) is an important part of the broader green
economy, which includes various sectors and industries focused on sustainability goals
(Demirel et al., 2019). Muo & Azeez (2020) state that GE is important in providing
sustainable solutions to the sector's environmental issues today. They argue that
sustainable corporate practices can help mitigate the adverse effects of conventional
corporate activities that often contribute to environmental pollution. Farinelli et al.
(2011) also state that GE is crucial in promoting sustainable economic growth and
addressing environmental challenges, including climate change and various serious
environmental problems.
The term “green entrepreneurship” emerged in the 1990s, and researchers
started to look at enterprise possibilities that were not only economically profitable but
also had a beneficial impact on the surroundings. The emergence of GE can be traced
to the advent of numerous terms together with “environmental entrepreneur”, “green
entrepreneur”, and “eco-entrepreneur” in a few literatures.
GE has a close relationship with the Circular Economy (CE). GE is considered
one of the approaches associated with the circular economy and is a key driver in the
implementation of the circular economy (Soleimani et al., 2023). In practice, GE
focuses on developing environmentally friendly businesses that aim to create solutions
to environmental problems while supporting economic growth and community welfare.
Kaim (2020) explains that GE positively impacts the global economy, including

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economic transformation, investment and trade, job creation, environmental awareness,
and technology innovation.
Domańska et al. (2018) explain that GE plays an essential position in
connecting and integrating the three pillars of sustainable development, which include
social, environmental, and economic. They emphasize that GE's fulfilment relies on
financial returns and advantageous social and environmental impacts. Furthermore,
O’Neill & Gibbs (2016) explain why GE functions no longer simplest as a precept by
using which businesses are trying to find earnings but additionally as an agent of the
alternate that promotes the concept of sustainability. GE often acts as an educator,
seeking to change how society perceives sustainability practices, especially in the
context of improvement and the use of environmentally pleasant substances.
Economic Sustainability
Economic sustainability is defined as the ability to fulfil the wants of the
present without compromising the capabilities of future generations (Wang et al.,
2024). This means that economic sustainability prioritizes economic growth and
considers sustainable environmental, social, and economic elements. The concept
emphasizes the need to undertake guidelines and practices that help continuous
improvement, which include the use of renewable energy and resource management
from the beginning and more efficient use of assets, to create sustainable economic
growth and reduce adverse environmental impacts (Zeng et al., 2024; Wang et al.,
2024).
Economic sustainability also refers to maintaining a balance of economic
growth without compromising the sustainability of social and the environment. This
involves integrating community-conscious business practices (CSR) with efficient use
of natural assets and environmentally friendly environmental improvements. Typically,
economic sustainability includes wise control of useful resources, breakthroughs in
green technology, and dedication to social obligations to achieve the dream of
continuous improvement (Xing et al., 2024).
Economic sustainability is one of the three main pillars of sustainable
development, the others being environmental and social sustainability (Chen et al.,
2024). Thus, economic sustainability plays an important role in ensuring that resources
are used to meet the current generation's needs without preventing future generations
from meeting their needs. Moreover, economic sustainability also means using natural
resources and technology in an integrated way to avoid damaging the ecosystem and
ensure the same quality environment in the future.

RESEARCH METHODS
This research uses two main research methods, systematic literature review and
bibliometric analysis, are used in this work to generate wider and deeper insights into

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the role of green entrepreneurs in building global economic sustainability. Simply put,
an SLR systematically reviews and synthesizes the relevant research work
(Priyashantha et al., 2023; Sauer & Seuring, 2023; Crawford & Jabbour, 2024). In
contrast, bibliometrics makes it possible to discover research trends, interactions
among researchers, and the impact of different topics in the field (Hassan & Duarte,
2024).
In SLR, PRISMA diagrams were initially used to sort through appropriate and
relevant literature from the Scopus database to obtain reliable literature (Albhirat et al.,
2024; Galletta et al., 2024; Pati & Lorusso, 2018). The screening was done in one
round using appropriate keywords aided by the Boolean operator “AND” concerning
articles addressing the topics of GE and economic sustainability. Each article obtained
from the search was critiqued based on strict inclusion and exclusion criteria to ensure
that the quality of the research-maintained relevance in the synthesis.
On the other hand, bibliometric methods quantitatively assess research
development on environmental and economic sustainability topics. They provide
researchers with knowledge of publication patterns, such as temporal and geographical
trends, and synergies between authors and institutions (Kut & Urbanik, 2024; Nageye
et al., 2024; Hakkaraki, 2024; Megawati et al., 2023). In this study, software such as
VOSviewer was used to conduct network analysis, which allows visualization of
relationships between articles, authors and keywords. Through this approach, we can
see how GE topics are evolving and contributing to global economic sustainability.
Data Source
The database source for this study was Scopus, the largest and most trustworthy
academic literature database. The determination of this database is essentially linked
to its credibility for providing access to journals that go through rigorous peer reviews.
According to Kushwaha et al. (2021) and Amato et al. (2024), it is alluded that the
selection of Scopus is justified on a basis of its wide and multidisciplinary coverage.
Therefore, it is thought to be appropriate for the present study to draw correct and
pertinent conclusions, as it avoided research biases and guaranteed a comprehensive
outcome.
Data Search Strategy
To ensure relevant coverage, we used a combination of keywords focused on
the title, abstract, and keywords (TITLE-ABS-KEY). The keyword combinations used
were “green entrepreneurship,” “economic,” and “sustainability,” linked by the
boolean operator “AND.” This approach ensured that the search results included
research that comprehensively examined the link between green entrepreneurship and
economic sustainability.
This search strategy is expected to produce relevant and reliable literature on
the topic under study. The boolean operator “AND” was used to narrow the search

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results so that only articles that included the three keywords “green entrepreneurship,”
“economic,” and “sustainability” were displayed. The search process was conducted
with an unrestricted period to gain insights from various periods and understand how
this topic has evolved. After obtaining initial results, relevant literature was further
screened based on inclusion and exclusion criteria, such as language, document type,
research focus, and full access to article text to ensure the quality of data used in further
analysis.
From the initial search using the keywords “green entrepreneurship,”
“economic,” and “sustainability,” we found 58 articles that will enter the relevance
screening stage using the inclusion and exclusion criteria.
Relevance Filtering
In this study, a relevance screening process was conducted to ensure that only
articles that fit the topic focus were included in the analysis. This process involved
using inclusion and exclusion criteria modified from Sardarabady & Durst (2024)
approach. he inclusion and exclusion criteria were designed to include studies that
specifically examined the link between green entrepreneurship and economic
sustainability and those published in reputable journals such as Scopus. The following
inclusion and exclusion criteria were used in this study.
Table 1
Relevance Filtering Criteria
Inclusion Criteria
Written in English
Document type: Article, Conference Paper,
Review
Research focus on “green entrepreneurship”,
“economic”, and “sustainability”
Full text available online

Exclusion Criteria
Written in other than English
Document types are: Book and other types other
than Article, Conference Paper, Review
Research does not focuses on “green
entrepreneurship”, “economic”, dan
“sustainability”
Not Available

The 55 articles found in the initial stage were then screened for relevance using
the criteria in Table 1. After screening 58 articles using the inclusion and exclusion
criteria, we obtained 31 documents that will enter the final stage of relevance screening.
In the final screening stage, we conducted a complete and thorough analysis through
titles, keywords, and abstracts with reference to the main topics of research and
research questions used in this study. The final screening process resulted in 19 articles
that will be considered in the analysis.
The detailed relevance filtering process is shown in the following PRISMA
diagram.

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Figure 1
SLR-PRISMA Flow Chart

ANALYSIS AND DISCUSSION
Year Wise Publication
Based on an annual analysis of publications, research on green
entrepreneurship has shown a significant upward trend over the last decade. Between
2013 and 2021, the number of publications was relatively low, with only 1-2
documents published per year. There was even a period of stagnation from 2014 to
2016, during which no publications were made. A drastic increase was observed after
2020, with a significant surge in 2022, marked by five publications, and a peak in
2024, when the highest number of publications was reached, at seven documents.

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Source: Scopus Database (2024)
Figure 2
Distribution of Publications Each Year

The trend of increasing publications on green entrepreneurship after 2020
shows that this topic is gaining attention in the academic world. In addition to the
growing urgency of global sustainability issues, such as climate change, and
international policies like the Paris Agreement and the Sustainable Development Goals
(SDGs), strong momentum is also emerging from outside the academic community
itself. Funding support from governments, non-governmental organizations (NGOs),
and strategic policy programs has played a crucial role in directing research focus
toward this field. Studies indicate that government incentives, subsidies, and
infrastructure support, such as eco-friendly business incubators, have been the primary
drivers of green entrepreneurship development across various countries (Wang &
Zhang, 2024; Sharda et al., 2015; Mukonza, 2020). Furthermore, the increase in green
entrepreneurship intentions among students and the younger generation has also been
shown to be influenced by perceptions of support from the government, universities,
and available funding programs (Ali et al., 2023). Therefore, the increase in academic
publications on this topic is not solely driven by researchers' intellectual curiosity but
is also spurred by a supportive policy and incentive ecosystem. This trend highlights
that green entrepreneurship is becoming an increasingly strategic and relevant field for
researchers, policymakers, and business practitioners in addressing future
environmental and economic challenges.
Most Prolific Countries
Based on the bibliometric data, the United Kingdom is the most prolific
country in green entrepreneurship research, contributing five documents to the field.
This is followed closely by China and Malaysia, each producing four documents
demonstrating their active engagement in sustainability-oriented entrepreneurship
studies. Additionally, Saudi Arabia, Bulgaria, and the United States have made notable

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contributions, each publishing three documents on the subject. These findings indicate
that countries with strong research institutions and policies supporting sustainable
innovation are at the forefront of green entrepreneurship studies.
Furthermore, countries such as Algeria, Austria, Bangladesh, and Colombia
have made more limited contributions, each with one document. While their
engagement is relatively lower, their presence in the academic discourse signals an
expanding global interest in green entrepreneurship.

Source: Scopus Database (2024)
Figure 3
Most Prolific Countries

Overall, these findings align with the study's core objective of assessing the
role of green entrepreneurship in global economic sustainability. The distribution of
research contributions indicates that green entrepreneurship is a globally relevant
topic, with research intensity centered in countries with greater access to technological,
financial, and institutional resources. This highlights the need for increased
collaboration and knowledge sharing across nations to enhance sustainable economic
practices worldwide.
Keyword Analysis
Keyword analysis in green entrepreneurship research is important in
identifying dominant themes and emerging trends. By examining frequently occurring
terms, we can understand the key areas of focus and their relevance to global economic
sustainability. The keyword mapping in Figure 5 below highlights important concepts
that shape the discourse on green entrepreneurship, providing insights into how
sustainability-driven entrepreneurial activities contribute to economic transformation.

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Source: Scopus Database (2024)
Figure 4
Keyword Frequency in Treemap

Based on the keyword analysis, “sustainable development” is the most
frequently occurring term, representing 8% of the dataset. This suggests that green
entrepreneurship is inherently linked to sustainability goals, reinforcing that economic
growth must align with environmental preservation. Other frequently occurring
keywords include “entrepreneur” (7%), “entrepreneurship” (5%), “green economy”
(5%), and “sustainability” (5%), indicating that research on green entrepreneurship
often explores the role of entrepreneurs in fostering a sustainable economy. The
presence of country-specific keywords, such as Saudi Arabia, also implies that certain
regions significantly advance this discourse. Additionally, terms like “innovation”
(3%), “uncertainty” (3%), and “economic development” (4%) highlight the challenges
and opportunities associated with sustainable entrepreneurship.
These findings underscore the relevance of green entrepreneurship in shaping
global economic sustainability. The prominence of sustainability, economic growth,
and entrepreneurship keywords reflects an ongoing effort to integrate environmentally
conscious business practices into mainstream economic activities. As research in this
field continues to evolve, it is crucial to foster cross-border collaborations and policy
interventions that support green entrepreneurship to achieve long-term economic and
environmental balance.
Network Visualization
Based on the co-occurrence network mapping of the 19 documents analyzed,
it can be seen that some of the main keywords such as “sustainability,” “green
entrepreneurship,” “innovation,” and “economic development” are closely
interconnected, forming the core of the topic of green entrepreneurship and economic
sustainability. These keywords are interlinked through concepts such as
“environmental economics,” “green economy,” and “policymaking,” indicating the

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research focus on the role of policy and innovation in supporting the transition to a
green economy. The linkages between “entrepreneur,” “green innovation,” and
“economic growth” also illustrate how green entrepreneurship can fuel economic
growth through green innovation.

Source: Scopus Database (2024)
Figure 5
Co-Occurrence Networking Mapping

The keywords in this network map indicate that sustainability, innovation and
policy are key elements in supporting green entrepreneurship as a strategy to
strengthen the global economy's sustainability. The linkages between these topics
reflect the importance of a holistic approach in understanding the role of green
entrepreneurship, where industrial development, policy and economic growth interact
to create positive environmental and social impacts. This confirms that green
entrepreneurship is a key link between innovation and sustainable economic
development.
Findings of Recent Studies
Based on Table 2, the five articles with the highest number of citations in
research on green entrepreneurship show a diverse focus, ranging from the sharing
economy and the role of formal institutions to technology-based innovations such as
blockchain. The following are the results of the findings that have been obtained.

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Authors
Sheppard &
Mahdad

Year
2021

Gu et al.

2022

Alwakid et al.

2021

Yasir et al.

2023

Njoku et al.

2024

Drăgoi et al.

2017

Ge et al.

2018

Speckemeier
& Tsivrikos

2022

Grinevich et
al.

2019

Tekala et al.

2024

Sklavos et al.

2022

Table 2
Research Findings
Methodology
Findings
Case Study
The important role of green entrepreneurship is
reflected in its contribution to global economic
sustainability through creating economic value in line
with environmental value, driving circular business
model innovation, and building an efficient, resilient
and low-carbon business ecosystem.
Quantitative By reducing environmental degradation through green
technology innovation and strengthening social
development, especially in times of economic policy
uncertainty, green entrepreneurship contributes to longterm economic resilience and growth.
Quantitative The existence of green entrepreneurship is crucial in
supporting global economic sustainability, among
others through the transformation of the industrial
system to become more environmentally friendly and
efficient, as well as strengthening long-term economic
competitiveness and social-ecological stability.
Quantitative Green entrepreneurship reinforces environmental
values in business practices and encourages businesses
to consider social and ecological impacts in addition to
economic returns.
Quantitative Green entrepreneurship's support for global economic
sustainability is seen in its efforts to promote a circular
economy through efficient waste management and
recycling, green job creation, and sustainability-based
social innovation.
Quantitative Through the development of agritourism, green
entrepreneurship helps create sustainable economic
development, stimulates local socio-economic
innovation, and brings together economic, social, and
environmental values as the basis for regional
resilience.
Case Study
The economic transformation towards global
sustainability is driven by the role of green
entrepreneurship that utilizes renewable resources,
spurs sustainable innovation, collaborates with public
policies, and enhances social and environmental value.
Quantitative In the context of sustainable economic transformation,
green entrepreneurship contributes by improving
resource efficiency and strengthening long-term
economic resilience globally.
Qualitative
Green entrepreneurship acts as a catalyst for
institutional legitimization, business model innovation,
market differentiation, and strengthening sustainability
in the digital economy.
Quantitative By
integrating
sustainability
values,
green
entrepreneurship becomes a strategic resource for the
long-term competitiveness of MSMEs, as well as
driving operational efficiency and green innovation.
Bibliometrics The contribution of green entrepreneurship to global
economic sustainability includes reducing the
environmental footprint, driving sustainable business
model innovation, and increasing the efficiency and
resilience of MSMEs.

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Authors
Wang & Ye

Year
2024

299

Methodology
Quantitative

Findings
Through the transformation of environmentally friendly
business solutions and the strengthening of green
innovation, green entrepreneurship plays an important
role in driving global economic sustainability and
connecting digital technology with sustainable rural
economic development.
Li et al.
2023
Quantitative Green entrepreneurship supports green job creation,
low-emission product and process development, and
green technology integration.
Burzyńska et
2018
Literature
This research shows that in the textile sector, green
al.
Study and
entrepreneurship practices contribute to driving
Quantitative innovation, creating economic value, reducing
Survey
environmental impact, and building collective
awareness about the importance of industrial
transformation towards a sustainable economy.
Sreenivasan &
2023
Bibliometrics Green entrepreneurship plays a multidimensional role in
Suresh
advancing global economic sustainability, whether
through green innovation, local economic development,
or the transition to a circular economy.
Polas et al.
2022
Quantitative Green entrepreneurship drives economic sustainability
by increasing the adoption of green innovations based
on renewable energy, encouraging the use of disruptive
technology (blockchain), and building a sustainable
mindset in SMEs that ultimately supports inclusive and
environmentally friendly economic growth.
Neumann
2022
Quantitative Green entrepreneurship promotes economic and social
sustainability globally, although its environmental
impact cannot be statistically ascertained in the short
term.
Affolderbach
2016
Case Study
The research underscores that ecopreneurs play an
& Krueger
important role in supporting the sustainability of a
global economy that is not only green, but also equitable
by combining ethics, inclusiveness and resource
efficiency.
Levinsohn
2013
Systematic
Green entrepreneurship plays a strategic role in global
Literature
economic
sustainability
through
creating
Review
environmentally responsible market opportunities,
driving sustainable innovation, internalizing ethical
values in business practices, driving institutional
change, and building business models relevant to global
socio-ecological challenges.
Source: Results of analysis from the scopus database (2024)

Based on the research findings in Table 2 above, we specifically and
provincially categorize 6 roles of green entrepreneurship in global economic
sustainability, as follows.
1.

Integration of Economic and Environmental Value in Business Models

Green entrepreneurship plays a strategic role in integrating economic and
environmental values through innovative, sustainable business models that promote a
balance between economic growth and environmental conservation. This practice aims
not only to pursue financial gains but also to consider the ecological impact of each
production process. The principles of circular economy, resource efficiency, and

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product life cycle extension are key elements in implementing this strategy
(Levinsohn, 2013; Sreenivasan & Suresh, 2023).
Initiatives such as the use of renewable energy and waste reduction are key
pillars in shaping environmentally friendly businesses. As demonstrated by Polas et
al. (2022), the adoption of blockchain technology by small and medium-sized
enterprises (SMEs) in Peru is an example of how green technology can help improve
production efficiency while enhancing economic sustainability. Another study by
Neumann (2022) also reinforces that green entrepreneurial activities have a positive
impact on macroeconomic growth and social welfare in various countries. Thus, green
entrepreneurship not only shapes internal processes for SMEs and companies but also
creates a business ecosystem that supports long-term economic and environmental
stability.
2.

Industrial Transformation and Long-term Economic Competitiveness

The transformation of industries towards efficiency and environmental
friendliness is the main goal of green entrepreneurship. Through the adoption of
technological innovations, increased energy efficiency, and reduced emissions, sectors
such as textiles, manufacturing, and agriculture are undergoing significant changes in
their production systems, which are driving the formation of more environmentally
friendly and efficient industries (Burzyńska et al., 2018; Wang & Ye, 2024).
Burzyńska et al. (2018) explain that the textile sector in Poland has begun to
implement environmental management systems and eco-innovation to enhance
competitiveness and profitability while mitigating negative environmental impacts.
Meanwhile, a study in China shows that digital economic transformation is also
driving the development of green entrepreneurship, which in turn facilitates
environmentally friendly innovation and rural revitalization (Wang & Ye, 2024). By
strengthening their resilience to global market dynamics and economic policies,
companies that adopt a green approach build competitive advantages and gain access
to new markets that prioritize social and environmental responsibility.
3.

Green Technology Innovation and Public Policy Collaboration

The central role of green entrepreneurs lies in their ability to drive
environmentally friendly technological innovation, such as the development of lowemission products, the use of renewable energy, and the integration of blockchain
technology to create transparency in the supply chain (Polas et al., 2022). These
innovations not only enhance efficiency and minimize ecological impact but also
create new opportunities for sustainable products. To maximize their impact,
collaboration between governments and businesses is essential, where government
support through incentives, regulations, and financing can accelerate the adoption of
green technologies and drive the transition toward a more sustainable economy.
Affolderbach & Krueger (2016) emphasize the need for "just ecopreneurship"

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that not only promotes technological innovation but also instills values of social and
environmental justice in business models. In the context of public policy, collaboration
between green entrepreneurs and the government is crucial to expanding the impact of
sustainability through incentives, funding, and transformative policies.
Another study by Li et al. (2023) found that entrepreneurship education,
university support, and environmental commitment can enhance green entrepreneurial
behavior, particularly among the younger generation. This suggests that integrated
education and environmental policies can foster an ecosystem that supports the longterm growth of green entrepreneurship.
4.

Green Job Creation and Social Innovation

One tangible contribution of green entrepreneurship to global sustainability is
the creation of green jobs. These jobs span the renewable energy, sustainable
agriculture, clean technology, and waste management sectors. In addition to generating
income, green jobs also support environmental conservation, creating positive social
and economic double effects (Tekala et al., 2024).
In addition to promoting green jobs, green entrepreneurship also encourages
sustainability-based social innovation that focuses on improving the welfare of local
communities. This is reflected in agrotourism practices that combine economic value
with the preservation of local culture and the environment. Research by Drăgoi et al.
(2017) on agritourism in Romania shows that green entrepreneurship can improve the
socio-economic resilience of rural communities and serve as a model for regional
development that is more resilient to global crises.
5.

Strengthening MSMEs and Sustainable Digitalization

Green entrepreneurship plays a crucial role in enhancing the competitiveness
and long-term resilience of MSMEs by incorporating sustainable values. The adoption
of green practices brings benefits such as cost efficiency, improved brand image, and
the ability to penetrate global markets that demand environmental responsibility
(Tekala et al., 2024; Speckemeier & Tsivrikos, 2022).
On the other hand, sustainable digital transformation is also a major driver in
expanding the impact of green entrepreneurship. The use of digital technology enables
sustainability-based companies to reach new markets with environmentally friendly
products and accelerate the adoption of low-carbon business practices (Grinevich et
al., 2019; Sheppard & Mahdad, 2021). Research by Speckemeier & Tsivrikos (2022)
indicates that the establishment of a digital ecosystem that promotes green values can
foster the growth of green startups, particularly through enhanced connectivity,
collaboration, and access to information.

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Exploring green entrepreneurship for global economic (Prasetio, Supardi, Waspada, Istikomah)

Social Justice and Sustainable Business Ethics

In the context of inclusive global economic sustainability, green
entrepreneurship brings social justice and business ethics to entrepreneurial practices.
Ecopreneurs not only pursue economic profits but also prioritize resource efficiency,
inclusivity, and social responsibility (Yasir et al., 2023; Gu et al., 2022).
These ethical values are reflected in a commitment to the welfare of workers,
local communities, and environmental conservation. Green companies are born as
hybrid organizations capable of simultaneously creating economic, social, and
environmental value (Sheppard & Mahdad, 2021). This approach demonstrates that
green entrepreneurship is not only a response to the environmental crisis but also a
mechanism to promote a more equitable, ethical, and crisis-resilient economic system
(Ge et al., 2018; Gu et al., 2022).
Future Research Recommendations
The research findings categorize the various research topics into five main
groups, each highlighting an important aspect that needs further exploration. The main
focus of the recommendations includes green innovation and economic growth, the
role of sustainable entrepreneurship in the transition to a green economy, the
contribution of entrepreneurs in global economic sustainability, the social and
environmental impacts of green entrepreneurship, and effective policies to promote
the growth of green entrepreneurship globally. Table 3 below analyzes the results for
future research that future researchers can learn from.

No
1.

2.

3.

4.

5.

Table 3
Future Research Recommendations
Keywords
Cluster
Research Topic
Green Innovation,
1
Research on how green innovation can drive economic
Economic Growth
growth across industries, with a focus on the impact of
innovation on sustainable industrial development
Sustainable
2
Examines the role of sustainable entrepreneurship in
Entrepreneurship,
driving the transition to a green economy, and
Green Economy
explores the challenges and opportunities of green
entrepreneurship across different sectors of the
economy
Entrepreneur,
3
An empirical study on the role of entrepreneurs in
Sustainability
strengthening the sustainability of the global
economy, with a focus on business development that
prioritizes long-term sustainability
Economic and Social
4
Analyze the social and economic impacts of green
Effects, Environmental
entrepreneurship on society and the environment, and
Impact
how it can reduce negative environmental impacts
Policy Making
5
Research on the most effective policies to support the
growth of green entrepreneurship at the global level,
as well as the effect of policies on economic
sustainability.

An analysis of future research recommendations shows that green innovation
has a central role in promoting sustainable economic growth, especially in developing

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303

more environmentally friendly industries. In addition, there is a need to understand the
challenges and opportunities in implementing sustainable entrepreneurship across
different sectors of the economy. Considering the recommendations of this study, it
can be concluded that green entrepreneurship plays a very important role in achieving
global economic sustainability. Focusing on innovation, supportive policies, and a
deeper understanding of green entrepreneurship's social and environmental impacts
will help create a sustainable business ecosystem. Therefore, future research should
strengthen the framework that integrates economic, social, and environmental aspects
to support environmentally friendly economic growth.

CONCLUSIONS, LIMITATIONS AND SUGGESTIONS
This research specifically addresses three main aspects related to the role of
green entrepreneurship in global economic sustainability. First, the annual publication
trend shows a significant increase since 2017, with the highest spike in 2024. This
indicates the increasing academic attention to sustainability and green
entrepreneurship issues post-pandemic and in line with international policy pushes
such as the Paris Agreement and SDGs. In terms of country contributions, the UK,
China, and Malaysia take the lead, while keyword and network structure analysis show
that topics such as "sustainable development", "innovation", and "policy" are central
to this research, demonstrating the importance of a holistic approach that links
entrepreneurship, policy, and innovation to drive sustainable economic growth.
Second, through a systematic review of recent findings, this study identifies six
key roles of green entrepreneurship: integration of economic and environmental values
in business models, industrial transformation and long-term competitiveness, green
technology innovation and public policy collaboration, green job creation and social
innovation, strengthening MSMEs and sustainable digitalization, and embedding
business ethics and social justice. These roles confirm that green entrepreneurship
creates economic value and strengthens social and environmental resilience in the face
of global challenges while expanding a more inclusive and sustainable economic
development model.
Despite its comprehensive contribution, this study has limitations in the
number and scope of publications analyzed and in exploring the depth of green
entrepreneurship practices in specific sectors. Therefore, future research is
recommended to expand bibliometric data across disciplines and regions and delve
deeper into the challenges of green entrepreneurship implementation in specific
industry sectors, especially in developing countries. The focus on green innovation,
supporting policies, and socio-environmental impacts will be crucial to strengthening
the framework that integrates economic, social, and environmental aspects to create a
sustainable business ecosystem.

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