The term supply chain finance (SCF) refers to a set of tools for optimizing working capital along supply chains and solving liquidity problems for the various stakeholders involved. Given the growing need to promote and finance sustainability solutions, the world of SCF is evolving to broaden its traditional horizons and integrate environmental, social, and governance (ESG) objectives, transforming itself into sustainable supply chain finance (SSCF). Through a systematic review of the literature on 70 articles published between 2008 and 2023, this research formalizes the ecosystem that characterizes the SSCF field, defined as a collaborative network of stakeholders who use financial instruments and sustainability metrics to generate shared value along the supply chain. The proposed conceptual framework illustrates how SSCF mechanisms can produce positive results for buyers, financial institutions, and suppliers, with the support of technology/logistics operators and ESG data providers. In addition, two main categories of SSCF solutions are contextualized and defined: passive cycle financing, driven by buyers, and active cycle financing, centered on suppliers.
