The role of green finance in the construction of new energy system: Evidence from China

Lee, Chien-Chiang; Li, Jiangnan; Wang, Fuhao

doi:10.1016/j.eneco.2024.107878

Energy Economics

2024

DOI: 10.1016/j.eneco.2024.107878

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The role of green finance in the construction of new energy system: Evidence from China

Chien-Chiang Lee,

Jiangnan Li,

Fuhao Wang

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Cited by 3 publications

References 80 publications

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Green finance and job creation: Analyzing employment effects in China's manufacturing industry within green finance innovation and reform pilot zones

Fu,

Zhang,

Maani

et al. 2025

Energy Economics

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Green finance and job creation: Analyzing employment effects in China's manufacturing industry within green finance innovation and reform pilot zones

Fu,

Zhang,

Maani

et al. 2025

Energy Economics

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Finance-driven sustainable development: the impact of green finance on agricultural non-point source pollution and its pathways

Shen,

Zhang

2024

Front. Sustain. Food Syst.

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IntroductionPollutants from farming and rural life have a serious negative impact on water and soil. The advantages of green finance in financial support and credit management can guide the green transformation of agricultural production, thus protecting the ecological environment.MethodsBased on panel data from 30 provinces in China from 2005 to 2021, the study used inventory analysis, entropy method and two-way fixed effect model to analyze the impact of green finance on agricultural non-point source pollution (ANSP) and the mediating mechanism.ResultsANSP has experienced an inverted U-shaped trend of first rising and then falling, and the rural ecological environment is improving. At the time level, the ANSP produced by agricultural production in China experienced an inverted U-shaped evolution trend of first increasing and then decreasing during the sample period. At the spatial level, ANSP has a significant low regional differentiation. The ANSP of the central region and the coastal economic development area is higher than that of the western region. The results of linear regression show that green finance has a negative effect on ANSP. Promoting green finance in rural areas can effectively guide the green transformation of agriculture and reduce the dependence of crop cultivation on fertilizers and pesticides. This result held even after the elimination of endogeneity and after various tests. Land transfer and environmental supervision are important intermediary mechanisms. Under the influence of these two economic variables, the role of green finance in pollution reduction can be fully brought into play. However, there is regional heterogeneity in the negative effects of green finance on ANSPs. Its effect on pollution reduction is stronger in major grain-producing areas and regions with well-developed digital financial infrastructure.DiscussionThis study confirms once again that green finance has a negative effect on ANSP, and the findings help to decouple the development of the agricultural economy from emissions. The outstanding contribution of this study is the discovery of the role of land transfer and government environmental regulation. I order to give full play to the role of green finance in pollution reduction, this study provides relevant policy measures. These measures are intended to improve the green finance system and business model in agriculture and rural areas.

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The Impact of National Big Data Pilot Zones on the Persistence of Green Innovation: A Moderating Perspective Based on Green Finance

Liu,

Hou,

Jing

et al. 2024

Sustainability

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Enhancing the persistence of corporate green innovation is crucial for promoting sustainable societal development. As big data technologies and related policies advance, digitalization emerges as an effective enabler of green innovation in enterprises. This study, grounded in resource-based theory and corporate ecology theory, examines the impact of national-level big data pilot zone reforms on the persistence of corporate green innovation, utilizing data from China’s A-share-listed companies from 2011 to 2021. It also explores the moderating effect of green finance development. Empirical results indicate that (1) the implementation of national-level big data pilot zones positively influences the persistence of green innovation, with robustness and endogeneity tests confirming these findings. (2) The development of regional green finance positively moderates this relationship. (3) A mediation analysis reveals that national-level big data policies enhance innovation persistence by alleviating financing constraints, promoting talent aggregation, and facilitating industrial upgrading. (4) The heterogeneity analysis shows that the positive impact of these reforms is more pronounced in non-state-owned, non-heavy polluting firms, those receiving high subsidies, and in regions with stringent environmental regulations. This study offers a novel theoretical perspective on and empirical evidence for digital transformation from the angle of national policy, supporting societal green development and contributing to policy enhancement aimed at achieving sustainable growth.

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The role of green finance in the construction of new energy system: Evidence from China

Cited by 3 publications

References 80 publications

Green finance and job creation: Analyzing employment effects in China's manufacturing industry within green finance innovation and reform pilot zones

Green finance and job creation: Analyzing employment effects in China's manufacturing industry within green finance innovation and reform pilot zones

Finance-driven sustainable development: the impact of green finance on agricultural non-point source pollution and its pathways

The Impact of National Big Data Pilot Zones on the Persistence of Green Innovation: A Moderating Perspective Based on Green Finance

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