Does industrial structure changes matter in renewable energy development? Mediating role of green finance development

Does the green finance reform and innovation experimental zone policy reduce carbon emission intensity? Evidence from Chinese cities

“…In particular, green financing can substantially influence the restructuring of energy usage . Green funds also have significant long-term effects on renewable energy development (Zhao et al, 2023). This partly reflects the fact that the function of green finance in reducing carbon emission intensity cannot be ignored.…”

“…Third, in addition to green bond and green credit financing, the GFRI experimental zone policy allows enterprises to carry out green equity financing, green fund financing, and green trust financing, which significantly expands the channels of green financing for enterprises and provides financing for the provision and application of carbon-reducing technologies and equipment. Green fund financing, in particular, has a lasting effect on renewable energy growth (Zhao et al, 2023) and helps realize the goal of reducing carbon emission intensity. In fact, the provision or application of carbon emission abatement technologies and equipment often faces financing constraints, and green finance can help enterprises address such finance constraints (Qian and Yu, 2023).…”

“…However, the provision and adoption of low-and zero-carbon energy technology and equipment require financial support. The GFRI experimental zone policy not only supports enterprises that manufacture power generation equipment, such as solar energy, wind energy, and nuclear energy, to obtain green financing but also allows them to obtain green financial resources for the construction and operation of ancillary facilities for power generation equipment, such as solar energy, wind energy, and nuclear energy, thus supporting the energy structure transition Zhao et al, 2023). The construction and operation of facilities, such as high-efficiency energy storage facilities, smart electricity grids, and multi-energy complementary systems, can be aided by green financing support.…”

“…The GFRI experimental zone policy can reduce carbon emission intensity significantly because this policy decreases the financial constraints on accessing carbon abatement technologies and equipment in multiple ways. First, the GFRI experimental zone policy gives financing support not only for enterprises that provide energy-saving and carbon-reducing technologies and equipment but also for enterprises that use them, thus decreasing the financing constraints confronted by firms attempting to fulfill the goal of carbon emission abatement (Qian and Yu, 2023;Zhao et al, 2023) and accelerating the dissemination of zero-and low-carbon technologies. Second, the GFRI experimental zone policy not only supports access to green financing for enterprises that manufacture power generation Frontiers in Energy Research frontiersin.org equipment, such as wind, solar, hydro, and nuclear energy equipment, but also allows enterprises that construct and operate ancillary facilities for wind, solar, hydro, and nuclear power generation equipment to access green financial resources, thus supporting the energy structure transition Zhao et al, 2023).…”

“…First, the GFRI experimental zone policy gives financing support not only for enterprises that provide energy-saving and carbon-reducing technologies and equipment but also for enterprises that use them, thus decreasing the financing constraints confronted by firms attempting to fulfill the goal of carbon emission abatement (Qian and Yu, 2023;Zhao et al, 2023) and accelerating the dissemination of zero-and low-carbon technologies. Second, the GFRI experimental zone policy not only supports access to green financing for enterprises that manufacture power generation Frontiers in Energy Research frontiersin.org equipment, such as wind, solar, hydro, and nuclear energy equipment, but also allows enterprises that construct and operate ancillary facilities for wind, solar, hydro, and nuclear power generation equipment to access green financial resources, thus supporting the energy structure transition Zhao et al, 2023). Third, the GFRI experimental zone policy increases financing constraints on traditional fossil fuel-based manufacturing enterprises, energy-intensive machinery, and equipment application enterprises to curb the growth of carbon and pollution emissions Qian and Yu, 2023).…”