Shades of Green Labeling: A Bibliometric Analysis

Sustainability labels are a signal of firms' commitment to environmental, social, and governance (ESG) related goals and can be driven by firms' ESG strategy. There is a multitude of labeling schemes leading to calls for either a simplified, overarching sustainability label or greater harmonization across the existing labels. Research has examined diverse issues related to sustainability labeling over the years, but primarily with a consumer focus. The present bibliometric study aims to address this imbalance and take stock of the literature on sustainability labeling from a business perspective during 2000–2023, using both Scopus and Web of Science. Our systematic search strategy results in 419 research articles, which are analyzed using bibliometric measures like thematic mapping, document co-citation analysis, and bibliographic coupling analysis. Findings reveal five themes in the literature—overall impact of sustainability labels; labels influencing firms' sustainability strategy and product innovation; labels and greenwashing; sector-specific research; and governance of sustainability standards and credibility-related concerns. We conclude with a discussion and avenues for future research.