Nexus between green finance, non-fossil energy use, and carbon intensity: Empirical evidence from China based on a vector error correction model

Ren, Xuedi; Shao, Qinglong; Zhong, Ruoyu

doi:10.1016/j.jclepro.2020.122844

Cited by 344 publications

(136 citation statements)

References 30 publications

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“…Important components of a collaborative environment include green finance, green innovation, and green investment which was the major cause of low-carbon economies (Nawaz et al 2021). Ren et al (2020) studied green finance and the carbon loss in return-on-investment model after being hacked. The authors concluded that green finance significantly affects environmental decision-making under a given potential loss level.. With the high level of green financing, Jin et al (2021) pointed out that enterprises tended to be compatible with affiliated enterprises.…”

Section: Theoretical Basismentioning

confidence: 99%

RETRACTED ARTICLE: Influence analysis of green finance development impact on carbon emissions: an exploratory study based on fsQCA

Xiong

Sun

2022

Environ Sci Pollut Res

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Increasing environmental degradation has forced policymakers to include sustainability in the economic growth agenda. Green finance has attracted the attention of policymakers and the industry, but the impact of green finance on social and environmental sustainability has not been confirmed. This study uses the panel data of 34 Chinese provinces to investigate the relationship between green finance and environmental degradation. The fuzzy set qualitative comparative analysis (fsQCA) method is utilized to analyze the mixed effect of green finance on CO 2 emissions. These factors include green innovation, green insurance, green investment, and industrial structure. The results show that exogenous demand factors, including green insurance and industrial structure, have auxiliary effects when endogenous demand factors, including green investment and green innovation, exist as the core antecedent conditions among green finance and environmental degradation. Finally, the policymakers should encourage financial technology to actively participate in environmental protection initiatives that promote green consumption while minimizing the systemic risks caused by financial technology.

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Section: Theoretical Basismentioning

confidence: 99%

RETRACTED ARTICLE: Influence analysis of green finance development impact on carbon emissions: an exploratory study based on fsQCA

Xiong

Sun

2022

Environ Sci Pollut Res

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“…The vector error correction model (VECM) is used to determine the causality direction of variables after the confirmation of a cointegration relation ( Sulaiman and Abdul-Rahim, 2018 ; Ren et al, 2020 ). The VECM framework was structured as follows:…”

Section: Methodsmentioning

confidence: 99%

Examining the Psychological State Analysis Relationship Between Bitcoin Prices and COVID-19

2021

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The rapid worldwide spread of COVID-19 forced many countries to enforce complete lockdown and strict quarantine policies. The strict lockdown and quarantine affect the psychological state of people toward cryptocurrency. The current research aims to examine the effect of COVID-19 on Bitcoin prices concerning cumulative deaths and confirmed cases. The research comprises daily data from January 20, 2020, to April 30, 2020, during the initial worldwide breakout of COVID-19. This research employed the augmented Dickey-Fuller test to check the stationarity of data, the co-integration test for the interdependency of variables, and the vector error correction model for identifying the direction and long or short-run relationship between Bitcoin prices and COVID-19. The research results show that Bitcoin prices are negatively significant and related to COVID-19 in the short-run. A unidirectional relationship between Bitcoin prices and cumulative deaths is also observed. Investors and the public’s psychological state were positively significant to Bitcoin prices in the long-term because of cashless transactions, unbanked, and less risky virus traveling. The second reason behind the positive psychological relation is un-centralization and easy-to-make payments by Bitcoin. This study’s finding provides timely evidence to decision-makers on Bitcoin price volatility and its impacts on the public’s psychological states regarding COVID-19.

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“…Lee et al (2013) found a positive correlation between foreign direct investment and G20 clean energy use during dual regression. Ren et al (2020) used a vector error correction model to analyze the relationship between the level of green finance development and non-fossil energy consumption. China's green finance industry is developing rapidly, and the improvement of the country's green finance development index has promoted an increase in the use of non-fossil energy.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

“…Green investment is negatively correlated with CO2, whereas national natural resource rents are positively correlated with carbon emissions. Ren et al (2020) used data from 2000 to 2018 and used a vector error correction model to analyze the relationship between the level of green finance development, non-fossil energy consumption, and carbon intensity. China's green finance industry is developing rapidly.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

“…In 2016, the People's Bank of China and seven ministries and commissions issued the "Guiding Opinions on Building a Green Financial System," which defined green finance as considering environmental protection as a policy prerequisite, taking potential environmental risks and returns as the content for evaluation, and providing investment, financing, and financing for environmentally friendly projects. Operation and other financial services (Ren et al, 2020;Wang and Zhi, 2016). The purpose of developing green finance is to embed financial development in the positioning and vision of sustainable development and use financial tools to guide funds to the green sector.…”

Section: Introductionmentioning

confidence: 99%

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Clarifying the relationship among green investment, clean energy consumption, carbon emissions, and economic growth: a provincial panel analysis of China

Wan

Sheng

2021

Environ Sci Pollut Res

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Green investment considers energy conservation and environmental protection as its main goals. Few studies based on simultaneous equation models have evaluated the relationships between green investment, clean energy consumption, carbon emissions, and economic growth. We use panel data from 30 provinces and cities in China from 2003 to 2017 to establish a simultaneous equation model that can evaluate these crucial relationships. At the national level, green investment has a significantly positive impact on clean energy consumption and economic growth; however, it has no significant effect on carbon dioxide emissions. Moreover, there is a U-shaped relationship between economic growth and clean energy consumption, as well as economic growth and CO2 emissions. When the per capita GDP is greater than 105735.92 (RMB), the use of clean energy will increase and CO2 emissions will decrease, thereby benefitting the environment and economy. Additionally, the impacts of green investment on clean energy differ in China's eastern, central, and western regions, and the non-linear relationships between economic growth and clean energy consumption in these regions also differ. Based on these findings, countermeasures and suggestions are proposed to spur development within different regions. Keywords Green investment. Clean energy. Economic development. Simultaneous Equation Model. carbon emissions. •The specific forms and turning points of economic growth on clean energy and CO2 emissions. ⁎Corresponding authors. Yuanyuan Wan.

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Nexus between green finance, non-fossil energy use, and carbon intensity: Empirical evidence from China based on a vector error correction model

Cited by 344 publications

References 30 publications

RETRACTED ARTICLE: Influence analysis of green finance development impact on carbon emissions: an exploratory study based on fsQCA

RETRACTED ARTICLE: Influence analysis of green finance development impact on carbon emissions: an exploratory study based on fsQCA

Examining the Psychological State Analysis Relationship Between Bitcoin Prices and COVID-19

Clarifying the relationship among green investment, clean energy consumption, carbon emissions, and economic growth: a provincial panel analysis of China

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