Coupling and coordinated development of low-carbon economy and green finance: an empirical study of the Yangtze River Delta region in China.

The introduction of China's double carbon target has led to a new stage in the development of China's low-carbon economy, while the development of China's green finance is also facing new challenges. Based on the determining of the relationship between low-carbon economy and green finance, this study selected the Yangtze River Delta city cluster of China, an exemplary region for the development of low-carbon economy and green finance, constructed a multi-level comprehensive index system covering two systems of low-carbon economy and green finance and conducted a coupled and coordinated relationship analysis based on the panel data of green finance and low-carbon economy-related indicators from 2016 to 2020. The empirical results showed that the interaction between the low-carbon economy system and the green finance system in the Yangtze River Delta region gradually weakened during 2016-2020, and the mechanism of interaction between the two systems has not been fully developed and utilized. Overall, the development of green finance in all four provinces and cities has not gained sufficient momentum, which is a constraint to the coupled and coordinated development of low-carbon economy and green finance in the four provinces and cities in the Yangtze River Delta. Zhejiang Province and Jiangsu Province performed better in terms of the scale of green finance and the use of diversified instruments, while Shanghai City performed better in terms of low-carbon economy, whereas Anhui Province needs to improve in both low-carbon economy and green finance.

Exploring greenhouse gas emissions pathways and stakeholder perspectives: In search of circular economy policy innovation for waste paper management and carbon neutrality in Hong Kong.

Waste paper disposed in landfills notably contributes to greenhouse gas (GHG) emissions and impedes more sustainable, circular alternatives, such as recycling. In Hong Kong, this unsustainable approach is currently dominant as 68% of waste paper products are treated in landfills in 2020. To contextualize the impact of local waste paper management and explore mitigation potentials of circular alternatives, this paper develops a quantitative assessment framework around GHG emissions development trajectories. Combining guidelines of the Intergovernmental Panel on Climate Change (IPCC), national GHG inventories, and local parameters from life cycle analysis, five GHG emissions projections were simulated along the Shared Socioeconomic Pathways (SSPs) until 2060. Most recent baselines indicate that Hong Kong's current waste paper treatment generated 638,360 tons CO2-eq in 2020, comprising 1,821,040 tons CO2-eq from landfill and 671,320 tons CO2-eq from recycling, and -1,854,000 tons CO2-eq from primary material replacement. Proceeding along a Business-as-Usual scenario under SSP5, GHG emissions will dramatically increase to a net 1,072,270 tons CO2-eq by 2060, whereas a recycling-intensive scenario will lead to a net saving of -4,323,190 tons CO2-eq. To complement the quantitative evidence on the benefits of waste paper recycling, field research was conducted to explore the feasibility of circular policy innovation from the perspective of recycling stakeholders. These empirical qualitative and quantitative findings from stakeholders' business routines and material transactions provide crucial indications for policy and institutional innovation: Essentially, for Hong Kong to improve waste paper recycling capacities and facilitate a circular economy (CE), local stakeholders require support via fiscal policy measures (financial subsidies or tax reductions) and infrastructure improvements (delivery access and material storage). In sum, this study employs a novel analytical framework combining original qualitative and quantitative evidence to provide policy innovation towards circular, GHG emission-saving waste paper management.