When Sustainability Meets Profit: A Systematic and Bibliometric Review of ISO 14001 and Financial Performance

Abstract

This study examines the relationship between ISO 14001 and financial performance through a Systematic Literature Review (SLR) and bibliometric analysis using the Scopus database for the period 2015-2025. After the PRISMA selection process, 21 articles were obtained for further analysis. Bibliometric results show an increase in publications since 2019, with dominant contributions from Europe and Asia, and most published in high-reputation journals. The synthesis of empirical findings reveals that ISO 14001 generally has a positive impact on financial performance, both directly and through indirect mechanisms such as environmental performance, eco-efficiency, green innovation, and ESG. However, some studies found insignificant or negative results, especially in small companies or shallow implementations. Overall, these findings confirm that the effectiveness of ISO 14001 is influenced by the company's internal context, regulatory pressures, and the depth of standard integration into operational processes.