The knowledge architecture of carbon markets: A 30-year global view

This study presents a comprehensive bibliometric and topic modeling analysis of the global scientific literature on carbon markets from 1994 to 2024. Analyzing 10,552 peer-reviewed articles from Scopus and Web of Science, the research examines publication trends, collaboration networks, and thematic evolution via Latent Dirichlet Allocation (LDA) and HJ-Biplot methodologies. Findings reveal an exponential increase in scholarly output post-Paris Agreement, with China, the United States, and European nations as primary contributors. Thematically, research has transitioned from foundational forest carbon and international frameworks to applied domains, specifically market design, emissions trading systems, and technological innovation. Emerging topics emphasize regional markets, predictive modeling, and green technology investments, whereas voluntary offsets and forest carbon estimation are declining. Network analysis delineates distinct global clusters: Western nations prioritize international cooperation, while China dominates domestic scientific output. The HJ-Biplot visualization exposes a structural disciplinary divide between policy-focused journals and those oriented towards technological and biophysical dimensions, providing empirical evidence of fragmentation in the scholarly landscape. Based on these structural patterns, the study delineates prospective research directions for integrating carbon markets with broader climate policy and innovation agendas, highlighting the critical need for cross-disciplinary approaches. Despite limitations inherent to specific databases, this methodological mapping advances understanding of how knowledge about carbon market evolves within global climate mitigation efforts.