Research on the Development of Green Finance in Shenzhen to Boost the Carbon Trading Market

Jiping, Zhou; Xiong, Siqin; Zhou, Yucheng; Zou, Zijian; Ma, Xiaoming

doi:10.1088/1755-1315/81/1/012073

Cited by 5 publications

(4 citation statements)

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“…Moreover, when distinguishing between the types of political connections, it is also significant that the increase in green investments by formally politically connected enterprises is more pronounced. The conclusions drawn in this paper are consistent with the argument that environmental governance needs to rely on intensive environmental legislation (Zhou et al, 2017) [29].…”

Section: Discussionsupporting

confidence: 86%

Environmental Regulation, Political Connections, and Corporate Green Investment

Zhu

Liu²,

Long

et al. 2022

Sustainability

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Based on the implementation of China’s new Environmental Protection Law (the new EPL), using the difference-in-differences (DID) method and the PSM method, this paper examines the impact of changes in local environmental governance motivation on corporate environmental protection investments before and after the implementation of the new EPL. The results show that, before introducing the new EPL, the scale of green investment of politically connected enterprises was significantly lower than that of other enterprises; after the introduction of the new EPL, the increase in environmental protection investment by politically connected enterprises was significantly higher than that of other enterprises. This promotion effect is more potent for formally politically connected enterprises. Given this, we suggest that governments need to achieve fair law enforcement of environmental protection and avoid the distortion of ecological protection investment by political connections during economic transitions.

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Section: Discussionsupporting

confidence: 86%

Environmental Regulation, Political Connections, and Corporate Green Investment

Zhu

Liu²,

Long

et al. 2022

Sustainability

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“…A strong and rigorous legal system of environmental regulation can largely avoid the short-sighted behavior of enterprises (Bénabou and Tirole, 2010) [ 41 ] and positively influence the environmental governance behavior of enterprises. The success of EU-ETS is attributed to the design of its trading system and the constraints of relevant mandatory laws and regulations (Zhou et al, 2017) [ 42 ].…”

Section: Background Of Pilot Ets and Research Hypothesismentioning

confidence: 99%

Emission Trading System, Carbon Market Efficiency, and Corporate Innovations

Zhu

Long

Gong

2022

IJERPH

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Taking China’s emission trading system (ETS) pilot in 2013 as a quasi-natural experiment, this paper uses the difference-in-differences (DID) models to study whether the regional pilot ETS can promote technological innovation in enterprises. In addition, this paper examines the influence mechanism of the ETS innovation effect, with a focus on three key dimensions of the carbon market efficiency: market price effectiveness, market product diversity, and market order normativity. The results show that the pilot ETS has significantly promoted the technological innovation of regulated enterprises, specifically, 1.405*** for the total R&D investment, and 2.783*** for the number of patent applications. Moreover, the regional carbon price has a positive moderating effect on the innovation effect of ETS. Meanwhile, the innovation effect is more significant when the gap between the carbon price and the marginal abatement cost (MAC) of CO2 is smaller, when the carbon financial derivatives are more abundant, or when the local market supervision is stronger. This study provides empirical evidence for the improvement of the national unified market and provides useful policy implications for developing countries to design ETS suitable for their national conditions.

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“…With the enhancement of people's awareness of environmental protection, more and more countries begin to take environmental problems seriously and begin to plan and implement sustainable development. "Love Canal Tragedy" in the United States has brought to the public's attention that environmental pollution issues can lead to financial risks [1]. Gregory (2016) explains that the development of sustainable financial business requires a balance between social performance, competitive advantage, earnings persistence, and corporate value [2].…”

Section: Introductionmentioning

confidence: 99%

Analyses of Sustainable Development of China’s Finance Based on Commercial Banks

Luo¹

2022

Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

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China's economy has developed exceedingly fast over the years. However, behind the fast-growing economy, sustainable development seems lagging. To motivate further development in sustainable development, analysis of sustainable financing, in the scope of commercial banks, the credit providers of all the enterprise will be most effective. This paper will analyze China's sustainable development and finance progress, investigate the current problem thesis, and provides suggestions in the scope of commercial banks, using the power matrix and impact value chain theory analysis. Challenges that sustainable developments in finance are attracting more sustainable experts to leverage their support to the banks' operation, insufficient ranges of sustainable products, limited SMEs and the wider public engagement and insufficient strengths in sustainable financing unit comparing to international standard. These problems can be tackled by taking corresponding actions, such as implementing sustainable recruitment plan, actively cooperating and supporting with product development experts, establishing a fast track for green financing of small and mediumsized enterprises, and closely monitoring government reports, guidelines and reports, so as to obtain a higher market share and improve the influence of commercial banks and sustainable financing.

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Research on the Development of Green Finance in Shenzhen to Boost the Carbon Trading Market

Cited by 5 publications

References 0 publications

Environmental Regulation, Political Connections, and Corporate Green Investment

Environmental Regulation, Political Connections, and Corporate Green Investment

Emission Trading System, Carbon Market Efficiency, and Corporate Innovations

Analyses of Sustainable Development of China’s Finance Based on Commercial Banks

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