Over the last decade, sustainable finance has appeared to be capturing a high level of interest as a crucial pillar of sustainable development. The process of taking environmental, social, and governance (ESG) considerations into account when making investment decisions in the financial sector is expected to play a key role in this framework, and although it has attracted the attention of many scholars and academics, a lack of understanding of the nature of the phenomenon remains. Therefore, on the basis of a systematic literature review of 80 studies, we examine, in detail, the subject areas and emphasize the main points in the existing literature. The findings reveal that there are four main thematic areas attracting research interest, as follows: (1) A shift in value creation; (2) green bonds; (3) ESG ratings and performance; and (4) sustainable finance, banking, and financial risks. Finally, this study outlines future research avenues in the field.

The world has seen several waves of economic crises, which have had a severe impact on small and medium-sized enterprises (SMEs), such as the Great Depression of the 1930s, the financial crisis in the late 2000s and, most recently, the global COVID-19, because they strip SMEs from their much needed resources. Prior research suggests that SMEs use bricolage to cope with such negative external shocks. While there is a rich discussion on how SMEs carry out their bricolage processes, the literature provides little empirical evidence on what actually happens in times of crisis. To examine whether the SME bricolage process described in the literature is consistent with how SMEs use bricolage when they face a business environment crisis, we conducted a qualitative study of six SMEs’ response to the austerity measures of the bailout programme for Greece, scheduled by the EU, ECB and IMF, which were known to have unambiguously led to the deterioration of the SME business environment. We found that bricolage occurred across all SMEs’ activities as expected. However, contrary to the literature, we found that bricolage did not lead the strategic approach of any of the investigated SMEs. Rather, bricolage was integrated within their overall strategy. Furthermore, we found that how the bricolage is unrolled depends on the SME sector. With this knowledge, the present study suggests policymakers need to adjust their support system towards enabling resource-constrained SMEs to deal with the aftermath of negative shocks in their business environment. Le monde a connu plusieurs vagues de crises économiques qui ont eu un grave impact sur les petites et moyennes entreprises (PME), telles que la Grande Dépression des années 30, la crise financière de la fin des années 2000 et, plus récemment, l’épidémie mondiale de COVID-19, parce que ces crises privent les PME des ressources dont elles ont grandement besoin. Des recherches antérieures suggèrent que les PME font du bricolage pour faire face à de tels chocs externes négatifs. Bien qu’il y ait un riche débat sur la manière dont les PME procèdent avec ce bricolage, la littérature ne fournit que peu de données empiriques sur ce qu’il se passe réellement en temps de crise. Afin d’examiner si le processus de bricolage décrit dans la littérature est cohérent avec la manière dont les PME ont recours au bricolage lorsqu’elles sont confrontées à une crise de l’environnement des affaires, nous avons mené une étude qualitative sur la riposte de six PME aux mesures d’austérité du programme de sauvetage financier de la Grèce, planifié par l’UE, la BCE et le FMI, dont on sait qu’elles ont conduit sans ambiguïté à la détérioration de l’environnement des PME. Comme nous nous y attendions, nous avons constaté que le bricolage se pratiquait dans toutes les activités des PME. Cependant, contrairement à la littérature, nous avons constaté que le bricolage n’était intégré à l’approche stratégique d’aucune des PME examinées. De fait, il était plutôt intégré dans la stratégie globale de ces PME. De plus, notre étude a révélé que la façon dont le bricolage se déroule dépend du secteur des PME qui y ont recours. Sur foi de ces résultats, cette étude suggère que les décideurs politiques doivent adapter leur système de soutien pour permettre aux PME à ressources limitées de faire face aux conséquences des chocs négatifs subis par leur environnement commercial.

The effects of climate change, in combination with the recent energy crisis, have brought the energy efficiency issues of hospitals markedly to the fore. Hospitals are considered among the most energy-intensive buildings, which is why they have become a top priority for governments wishing to upgrade their energy efficiency. Given the critical nature of the work of hospitals and the model of healthcare provision (nursing cover 24 h per day, 7 days a week) it is very hard to achieve energy cuts. The international literature shows that the energy efficiency of hospitals is a complex process that requires further research. This need is covered by the present systematic literature review, which captures the existing knowledge on energy monitoring strategies, assessment, and upgrading through technology, resources-saving strategies, and the relationship between energy efficiency and the quality of the service provision, while also identifying future research considerations and the potential for supporting researchers’ work. Additionally, this study adds aggregated data to the literature, as far as the energy performance of buildings is concerned, and allows investors to have data exported from energy surveys at their disposal. At the same time, it suggests the further exploration of alternative energy technologies, based on all renewable energy sources rather than only solar power systems. This highlights the need for a comparative examination of hospitals with different climatic and socio-economic environments, to better determine what technologies effectively serve the energy needs of each region. Finally, this survey considers it necessary to connect the energy efficiency of hospital units with the awareness of the management and workforce in the saving of energy resources. Due to the fact that most studies are oriented toward the energy performance of very large-sized hospitals, it is suggested that in the future, the research lens should also be focused on the smaller private and public sectors’ health units.

The main lever for the development and promotion of rural tourism in Greece has been, and continues to be, through specific EU programmes. Rural tourism in Greece began with a long delay compared to other European countries. The development philosophy was (and still is) to increase rural incomes as a complement to agricultural and livestock production, not by degrading them. This theoretical paper presents previous research studies in rural tourism and EU development programmes and it describes how European financial tools intended for rural tourism were implemented in Greece. Furthermore, it describes the challenges faced by rural people involved in the development of rural tourism in seeking European funding through a multi-layer approach on the obstacles in the EU funds absorption capacity. The analysis shows that the legislation, design of the programmes, processes from local governments, bureaucracy and malpractices create constraints in the absorption of EU funds and the results in the rural tourism development are not the expected ones. It concludes that there is a need for reforms in the national institutional framework and structures along with a different philosophy in approaching the EU funding initiatives in rural areas.