Sustainable finance and renewable energy: Promoters of carbon neutrality in the United States

Qin, Meng; Su, Chi‐Wei; Zhong, Yifan; Song, Yuru; Oana-Ramona, L.O.B.O.N.Ţ.

doi:10.1016/j.jenvman.2022.116390

Cited by 103 publications

(20 citation statements)

References 50 publications

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“…During the Russia-Ukraine war in 2022, the U.S. and European Union have repeatedly launched sanctions on Russia, the latter has also implemented counter-sanctions (Adekoya et al, 2022;Qin et al, 2022b). Then, this geopolitical event considerably hampers the global supply, especially in energy (Russia is the major producer and exporter of crude oil and natural gas) and agricultural products (Ukraine is the largest producer of sunflower seeds, and Russia is the largest wheat exporter), resulting in a high level of GSCP (the average of monthly GSCP is 2.25).…”

Section: Empirical Results and Discussionmentioning

confidence: 99%

“…On the other hand, during the periods with high GSCP, if the value of other assets is higher than bitcoin, its demand and price might fall. For example, the Russia-Ukraine war in 2022 makes GSCP at a relatively high level (Adekoya et al, 2022;Qin et al, 2022b), while BP plummets due to the significant reduction in the investment value of bitcoin compared to government bonds (e.g., the Federal Reserve has raised interest rates six times in 2022). Conversely, bitcoin has been recognized as a legal currency in several countries (e.g., the U.S., Japan and Germany), thereafter, the fluctuations of its price may reflect the economic (including the supply chains) situation (Su et al, 2020b(Su et al, , 2020c.…”

Section: Introductionmentioning

confidence: 99%

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Could “Digital Gold” Resist Global Supply Chain Pressure?

Qin

Wang

et al. 2023

Technological and Economic Development of Economy

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Exploring the safe-haven characteristics of bitcoin from novel perspectives is crucial to diversify the investment and reap the benefits. This investigation employs bootstrap full-and sub-sample techniques to probe time-varying interrelation between global supply chain pressure (GSCP) and bitcoin price (BP), and further answer if “digital gold” could resist the strains of global supply chain. The empirical outcomes suggest that GSCP positively and negatively affects BP. The positive influence points out that high GSCP might boost the international bitcoin market, driving BP to rise, which indicates that “digital gold” could resist the pressures of global supply chain. But the negative effect of GSCP on BP could not support the above view, mainly affected by the weak purchasing power and more valuable assets, which is not consistent with the assumption of the inter-temporal capital asset pricing model (ICAPM). In turn, GSCP is adversely affected by BP, highlighting that the international bitcoin market may be viewed as a stress reliever for the global supply chain. Against a backdrop of the deteriorative Russia-Ukraine war and the intensifying global supply chain crisis, the above conclusions could bring significative lessons to the public, enterprises and related economies.

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Section: Empirical Results and Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Could “Digital Gold” Resist Global Supply Chain Pressure?

Qin

Wang

et al. 2023

Technological and Economic Development of Economy

Self Cite

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“…This research involves two subsystems: the market demand subsystem and the module supply subsystem, including many endogenous and exogenous variables with a complex dynamic relationship between each variable. In the existing research, most scholars studied the problems by using empirical analysis (Liu et al, 2021 ; Qin et al, 2022 ; Yang et al, 2022 ). However, it is difficult to describe the interrelationship and influence mechanism of numerous factors (Song et al, 2021 ).…”

Section: Methodsmentioning

confidence: 99%

Can the cancellation of government subsidies alleviate the phenomenon of overcapacity in the photovoltaic module industry? From a dynamic perspective

Zhang

Zhao

Zhou

2023

Environ Dev Sustain

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The environmental pollution problem stimulates the photovoltaic industry’s vigorous development and further promotes the prosperity of the module manufacturing industry. After the cancellation of government subsidies, how the phenomenon of overcapacity that has always existed in the module manufacturing industry will develop is one of the essential issues that we need to consider. This paper constructs a systematic framework to analyze the driving mechanism of government subsidies on overcapacity. Then, a system dynamics model is established to predict the development trend of overcapacity after the cancellation of government subsidies. The result shows that: (i) By 2030, the production capacity will exceed 600 GW in China’s photovoltaic module industry, which is about two times that of 2021. Moreover, its price and cost will drop to 0.46 yuan/W and 0.41 yuan/W, which are down 67% and 60%, respectively, compared to 2021; (ii) After the cancellation of government subsidies, the phenomenon of overcapacity will not disappear soon, and it will continue until 2030. In 2030, the production capacity utilization rate will reach 80%, and the phenomenon of overcapacity will disappear; (iii) From the perspective of production factors, the impact of the labor factor on the production capacity is minimal. In the initial stage, technology and capital factors are vital. As the industry matures, the influence of the capital factor will gradually weaken. Finally, we have put forward corresponding policy implications.

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“…For green finance and its product system, China has introduced a variety of green finance assessment and incentive mechanisms from the perspective of fiscal, monetary and regulatory aspects, including positive reward mechanisms and negative punishment mechanisms (Qin et al, 2022). In 2020, the Guiding Opinions on Promoting Investment and Financing to Address Climate Change was issued, strengthening the use of refinancing and MPA assessment to encourage financial institutions to promote green credit (Zhang, 2022).…”

Section: Incentive and Constraint Mechanismsmentioning

confidence: 99%

The development of green finance under the goal of carbon neutrality: A review from China’s perspective

Xue

Zhuang

et al. 2023

Front. Earth Sci.

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Extreme environmental and climate problems have been ravaging the world, causing serious economic losses and hindering human development, so that carbon neutrality has become a global undertaking related to the survival of human civilization. To ensure climate change mitigation and carbon emission reduction, this paper finds that green finance as an important and efficient tool has become a legislative priority for many countries and have been embedded in the path to achieve carbon neutrality. On the basis of in-depth analysis of the evolution and development of global green finance, this paper reviews and summarizes the development of green finance in China through literature analysis and horizontal comparison, and explores concrete recommendations and feasible tools that can be tailored to China’s carbon neutrality goal and stage of development. It is concluded that China needs to improve the green finance operation mechanism and flexible policy framework, to formulate a more accurate timetable and roadmap, to strengthen the modernization of the governance system and governance capacity and to promote the global green finance cooperation.

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Sustainable finance and renewable energy: Promoters of carbon neutrality in the United States

Cited by 103 publications

References 50 publications

Could “Digital Gold” Resist Global Supply Chain Pressure?

Could “Digital Gold” Resist Global Supply Chain Pressure?

Can the cancellation of government subsidies alleviate the phenomenon of overcapacity in the photovoltaic module industry? From a dynamic perspective

The development of green finance under the goal of carbon neutrality: A review from China’s perspective

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