The impact of green finance on carbon emission efficiency
Green finance plays a pivotal role in guiding and incentivizing private capital to invest in low-carbon industries and initiatives. This study utilizes data of Chinese cities from 2006 to 2022 to investigate the influence of green finance on carbon emission efficiency. The results show that green fi...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2024-01-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844023110115 |
| _version_ | 1827367163245101056 |
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| author | Gongliang Wu Xu Liu Yueling Cai |
| author_facet | Gongliang Wu Xu Liu Yueling Cai |
| author_sort | Gongliang Wu |
| collection | DOAJ |
| description | Green finance plays a pivotal role in guiding and incentivizing private capital to invest in low-carbon industries and initiatives. This study utilizes data of Chinese cities from 2006 to 2022 to investigate the influence of green finance on carbon emission efficiency. The results show that green finance significantly contributes to enhancing carbon emission efficiency. The impact of green finance on carbon emission efficiency is subject to a dual threshold effect, which depends on the level of regional economic development. Regional innovation emerges as a vital channel through which green finance influences carbon emission efficacy. Moreover, the sensitivity of carbon emission efficiency to the green finance index shows an inverted U-shaped trend. Green support is most significant in green finance sub-dimensions. These findings provide valuable theoretical support for the role of green finance in fostering carbon efficiency improvement and provide essential insights for formulating effective policy strategies. |
| first_indexed | 2024-03-08T09:02:36Z |
| format | Article |
| id | doaj.art-7b67169e5b324c8288f188da8e6ef0d8 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-03-08T09:02:36Z |
| publishDate | 2024-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-7b67169e5b324c8288f188da8e6ef0d82024-02-01T06:33:35ZengElsevierHeliyon2405-84402024-01-01101e23803The impact of green finance on carbon emission efficiencyGongliang Wu0Xu Liu1Yueling Cai2School of Economics, Zhejiang University of Technology, Hangzhou, China; Institute for Industrial System Modernization, Zhejiang University of Technology, Hangzhou, ChinaSchool of Economics, Zhejiang University of Technology, Hangzhou, China; Institute for Industrial System Modernization, Zhejiang University of Technology, Hangzhou, ChinaSchool of Economics and Management, Zhejiang Sci-Tech University, Hangzhou, China; Corresponding author.Green finance plays a pivotal role in guiding and incentivizing private capital to invest in low-carbon industries and initiatives. This study utilizes data of Chinese cities from 2006 to 2022 to investigate the influence of green finance on carbon emission efficiency. The results show that green finance significantly contributes to enhancing carbon emission efficiency. The impact of green finance on carbon emission efficiency is subject to a dual threshold effect, which depends on the level of regional economic development. Regional innovation emerges as a vital channel through which green finance influences carbon emission efficacy. Moreover, the sensitivity of carbon emission efficiency to the green finance index shows an inverted U-shaped trend. Green support is most significant in green finance sub-dimensions. These findings provide valuable theoretical support for the role of green finance in fostering carbon efficiency improvement and provide essential insights for formulating effective policy strategies.http://www.sciencedirect.com/science/article/pii/S2405844023110115Green financeCarbon emission efficiencySensitivity analysisLSTM modelRandom forest model |
| spellingShingle | Gongliang Wu Xu Liu Yueling Cai The impact of green finance on carbon emission efficiency Heliyon Green finance Carbon emission efficiency Sensitivity analysis LSTM model Random forest model |
| title | The impact of green finance on carbon emission efficiency |
| title_full | The impact of green finance on carbon emission efficiency |
| title_fullStr | The impact of green finance on carbon emission efficiency |
| title_full_unstemmed | The impact of green finance on carbon emission efficiency |
| title_short | The impact of green finance on carbon emission efficiency |
| title_sort | impact of green finance on carbon emission efficiency |
| topic | Green finance Carbon emission efficiency Sensitivity analysis LSTM model Random forest model |
| url | http://www.sciencedirect.com/science/article/pii/S2405844023110115 |
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