The increasing of environmental awareness and the requirement of sustainable economic development has led to implementation of green business practices (GBP) to minimize the destructive impact of business on local and global environment, society, community and economy. Nevertheless, the concept of GBP itself is ambiguous and underexplored especially tin the context of multinational companies. The objective of the study is to review green business practices articles specifically tackling on the issues of contradictory definitions, significances, issues and challenges faced by the multinational companies. Recent articles have been reviewed using a systematic literature review method. This paper contributes to the thorough understanding of the concept and how it bring significances and pose challenges to companies. Certain managerial implications have been highlighted to the multinational companies to bring GBP effectively on board on their strategic planning process.