Here are some references I gathered during my search.
I got to go through them but they shall be useful for anyone paying attention to text/background contrast for legibility:
Contrast text background lisibility tester:
http://jxnblk.com/colorable/demos/text/?background=%2348a74c&foreground=%23FFFFFF
https://webaim.org/resources/contrastchecker/
https://material.io/design/color/text-legibility.html#text-backgrounds
https://www.nngroup.com/articles/text-over-images/
Another tool: https://contrast-ratio.com/#hsla%28200%2C0%25%2C0%25%2C.7%29-on-green