Has the establishment of green finance reform and innovation pilot zones improved air quality? Evidence from China

Xu, Xinhe; Xie, Yuntian; Obobisa, Emma Serwaa; Sun, Huaping

doi:10.1057/s41599-023-01773-0

Cited by 12 publications

(3 citation statements)

References 59 publications

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“…This reveals that the government should guide and promote the development of GF to provide more financial capital for green technology and to increase the financing support for solar photovoltaic, wind, geothermal energy, and other clean renewable energy industries. However, the influence of GF on CEI and AP through IS is not significant, which is different from some results in the literature [28]. When studying the mechanism of GF's effects on CEI and AP by region (see Figure 6), it was found that the impact of GF on IS in the Eastern region is significant, which implies that the effect of GF may be affected by the level of economic development [47].…”

Section: Conclusion and Policy Recommendationscontrasting

confidence: 75%

“…The economic structure is usually studied in terms of both ES and IS. For example, Xu et al [28] studied the GF reform and innovation pilot zone in China and found that GF improved air quality by promoting IS optimization. Xiang et al [29] constructed a panel threshold model with IS and ES as the threshold variables, finding that the inhibitory effect of GF on AP through IS optimization is greater than that through ES optimization.…”

Section: Mechanism Of Gf's Effects On Carbon Emissions and Pollutionmentioning

confidence: 99%

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Can Green Finance Mitigate China’s Carbon Emissions and Air Pollution? An Analysis of Spatial Spillover and Mediation Pathways

Liu,

Yang,

Zhao

et al. 2024

Sustainability

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China faces a multi-objective environmental governance dilemma involving achieving fundamental ecological environment improvement, carbon peaking, and carbon neutrality. In this study, we constructed indicators of the level of green finance development through the entropy-weighted TOPSIS evaluation model, and adopted the two-way fixed-effect spatial Durbin model (SDM) and the multiple spatial mediation effect model to explore the impacts and paths of green finance as a policy tool to promote environmental sustainability in carbon emissions and environmental pollution using panel data from 30 provinces in China between 2007 and 2019. The research results show that green finance (GF) can significantly reduce carbon emission intensity (CEI) and air pollution (AP). Moreover, the role of GF in reducing AP becomes weaker due to increased levels of green finance in neighboring regions negatively affecting local air quality. Mediation path analysis shows that GF reduces CEI and AP mainly by promoting the optimization of energy structures and technological progress. The results of regional heterogeneity analysis show that there is variability in the pathway of the impact of GF on CEI and AP in different regions, and the Western region is more sensitive to GF policies. Therefore, policymakers should give their full attention to the functions of GF to mitigate China’s carbon emissions and environmental pollution.

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Section: Conclusion and Policy Recommendationscontrasting

confidence: 75%

Section: Mechanism Of Gf's Effects On Carbon Emissions and Pollutionmentioning

confidence: 99%

Can Green Finance Mitigate China’s Carbon Emissions and Air Pollution? An Analysis of Spatial Spillover and Mediation Pathways

Liu,

Yang,

Zhao

et al. 2024

Sustainability

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“…Researcher Sivakumar A. et al [13] determined the importance of implementing innovation monitoring in health care institutions, which characterizes the assessment of the implementation of the Sustainable Development Goals in the health care sector. Researcher Xu X. et al [14] noted the need to consider green finance in the innovative activities of air carrier companies in China, which notes the high investment attractiveness of green innovation projects at the national and international levels. It should be noted that the implementation of the processes of decarbonization of production and transport by companies is relevant in the implementation of the Sustainable Development Goals, the scientist A. Raihan [15] studied the contribution of economic development, renewable energy sources, technical progress and forestry by Uruguayan companies with the aim of becoming a carbon-neutral country by 2030 year.…”

Section: Literature Reviewmentioning

confidence: 99%

Research of Green Innovation of Companies of Countries with Different Levels of Technological Development of Production

Taraniuk,

Korsakiene,

Taraniuk

et al. 2024

Management Systems in Production Engineering

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In the conditions of the transition to higher technological systems in the conditions of the implementation of the Sustainable Development Goals, the companies of the world face the question of effective management of green innovative development in their economic activities. The goal of the research is the formation of effective organizational and economic support for green innovations of companies of countries with different levels of technological development of production. This research contains: to describe the known positions of scientific schools regarding the managerial aspects of green innovations of companies of the world; to form the economic support of this administration, by developing an assessment of the potential of green innovations of companies of the world (the data of the Global Innovation Index Report were taken as a source of empirical data), to form criterion values of the potential of green innovations of companies of the countries for the purpose of their clustering. The research methods used include: system method; bibliometric analysis; method of assessing competitiveness; criterion method; method of generalization. The objects of evaluation include companies from five countries of Central and Eastern Europe. The main results of the study include: development of management theory; forming an assessment of the green innovation potential of companies from countries of the world with different levels of technological development of production (the data of the Global Innovation Index Report were taken as a source of empirical data); formation of criterion support for the results of evaluation of the green innovation potential of the countries’ companies. The conclusions of the study should include establishing the actualization of managing green innovations by companies of the world by involving the results of the assessment of the green innovation potential of companies of the world to the formation of the criterion values of this assessment in order to make effective management decisions on the part of all interested stakeholders. For further scientific research, to focus on the formation of effective communication links between different groups of stakeholders, the basis of this scientific direction is the criteria developed by the authors to ensure the level of green innovation potential of companies of countries in order to make effective decisions on the part of stakeholders (state bodies, investors, manufacturers, suppliers, clients, financial institutions) regarding organizational, social, economic support of green innovations of companies of countries with different levels of technological development of production. This study can be useful for the governments of countries in the development of international and national programs for the innovative development of the economy in terms of the implementation of the Sustainable Development Goals; to company managers when forming strategic and tactical plans for green innovative business development; to students and scientists in the implementation of scientific and educational programs.

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Green finance policy and enterprise green development: Evidence from China

Lyu

Bai

Zhang

2023

Corp Soc Responsibility Env

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Global environmental issues are becoming increasingly prominent, and green finance may play a key role in achieving sustainable development. This study takes the “Green Financial Reform and Innovation Pilot Zone” policy as a quasi‐natural experiment. The Difference‐in‐Difference model and Propensity Score Matching‐Difference in Difference model are applied to examine the direct effect of green finance policy on the green development of enterprises. A mechanism test model is used to investigate its indirect transmission mechanism. Then several heterogeneity analyses are performed from five perspectives. The results show that green finance policy considerably promotes enterprise green development and the conclusion is supported by a series of robustness tests. The mechanism analyses show that financing constraints and green innovation are the two transmission channels for green finance policy affecting enterprise green development. The heterogeneity analyses indicate that the policy effect is more significant among enterprises those are non‐state‐owned, have managers with a financial background, operate in regions with high marketization, belong to industries with low monopoly, and locate in poilt zones of Zhejiang, Guangdong, and Guizhou. Based on the above findings, policy suggestions are made to establish a win‐win scenario for the economy and the environment.

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Has the establishment of green finance reform and innovation pilot zones improved air quality? Evidence from China

Cited by 12 publications

References 59 publications

Can Green Finance Mitigate China’s Carbon Emissions and Air Pollution? An Analysis of Spatial Spillover and Mediation Pathways

Can Green Finance Mitigate China’s Carbon Emissions and Air Pollution? An Analysis of Spatial Spillover and Mediation Pathways

Research of Green Innovation of Companies of Countries with Different Levels of Technological Development of Production

Green finance policy and enterprise green development: Evidence from China

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