Can green finance policy improve public health?

There is a worldwide agreement to proactively enhance public health (PH) to mitigate potential challenges posed by future health crises. Alterations in social factors, including financial policy, serve as determinants of PH. Green finance policy (GFP) represents a groundbreaking innovation in financial policy. GFP addresses the shortcomings of traditional finance and serves as a key driver in promoting PH. This study establishes a theoretical framework on GFP's impact on PH and employs the differences-in-differences method for validation. First, GFP has a significant positive impact on PH. Second, the impact mechanisms are green industry development, green governance investment, and green food supply. Third, the benchmark results are pronounced in regions with a high level of financial development and none 'Atmospheric Ten' policy pilot. This study explores the significant impact of GFP on PH, examining theoretical frameworks and empirical evidence. It offers valuable empirical insights and policy recommendations for governments. Governments should persist in refining green financial policies while pursuing economic development. Simultaneously, society should prioritise the construction of green PH facilities, widely promote the concept of green living, and cultivate a sustainable living environment.

Moving toward sustainable goals 7 and 13: An inclusive mechanism to achieve environmental sustainability through digitalization and energy transition in OECD countries.

In line with Sustainable Development Goals (SDGs) 7 and 13, this study proposes a policy framework while considering digitalization as a critical tool in shaping the energy transition process to attain environmental suitability in OECD countries. The study employed multifaceted empirical techniques, including Method of Moment Quantile Regression (MMQR), Fully Modified Ordinary Least Squares (FMOLS), and Dumitrescu and Hurlin (D-H), augmented with robustness tests over the period 2000 to 2021. The results indicate that digitalization augments energy transition and green finance to attain environmental sustainability. However, moving toward higher quantiles (4th, 6th, and 8th), the total impact of energy transition and digitalization is diminished. Besides that, a bidirectional causal relationship was reported running from green finance and digitalization to greenhouse gas (GHG) emissions. This study offers a detailed policy framework while considering SDGs 7 and 13.

Role of green finance, green bonds, public private partnership, and technology innovation in carbon neutrality and sustainable development.

In recent years, global attention has increasingly turned towards the urgent goal of eliminating carbon emissions. Evaluating new methods may be the key to achieving environmentally responsible growth. This study examines the impact of China's public-private energy partnerships on CO2 emissions from 1990Q1 to 2022Q4, employing Dynamic Ordinary Least Squares (DOLS) and fuzzy multi-objective least squares (FMOLS) econometric regression methods. Our analysis incorporates sustainability efforts, renewable energy sources, environmentally sound finance, and technological advancements to provide a comprehensive understanding of CO2 emissions dynamics. Our findings reveal that expanding access to credit has facilitated the development of green financing, resulting in a favorable environmental impact of China's economic growth and public-private partnerships. The reduction in carbon dioxide emissions is counter balanced by the positive effects of technological progress, increased utilization of renewable energy sources, and enhanced power efficiency. We highlight the multiplying effect of these factors, underscoring the need for global public-private collaborations in the energy sector to significantly lower carbon emissions and to achieve sustainable development goals. We assert that policymakers tasked with facilitating China's transition to renewable energy sources must prioritize environmental preservation, technological advancement, and the optimal utilization of renewable resources to achieve lasting sustainability.

Impact of sustainable energy, fossil fuels and green finance on ecosystem: Evidence from China.

The adoption of sustainable energy has increased as a substitute for petroleum derivatives due to growing concerns about environmental degradation caused by pollution and non-renewable energy sources. This study aims to investigate the impact of sustainable energy, green finance, and fossil fuels on the ecology of China. Instead of using traditional intermediaries like CO2 and EF, we employed the ecosystem habitat index to evaluate the conservation of terrestrial ecosystems. This index measures the extent of habitat destruction, deterioration, and fragmentation. The research demonstrated that implementing ecological power and green finance in China has enhanced the country's ability to safeguard and enhance its ecosystem in the short and long term. Furthermore, the findings suggest that using non-renewable energy sources in China has heightened the risk to biodiversity and the ecosystem. The analysis indicates that prioritizing green funding and renewable energy sources is crucial for policymakers, legislators, and investors to safeguard and enhance ecosystem diversity.

Exploring the synergy of logistics, finance, and technology on innovation.

As global environmental challenges intensify, manufacturing firms face increasing pressure to innovate sustainably. Green innovation, characterized by the development of environmentally friendly products, processes, and technologies, has become essential for firms striving to remain competitive. This study aims to investigate the influence of key factors-green logistics, green finance, and green technology-on green innovation within manufacturing firms, while exploring the mediating role of green technology in these relationships. A multi-method approach was employed, combining partial least squares structural equation modeling, fuzzy-set qualitative comparative analysis, and necessity condition analysis. 447 responses were collected from manufacturing companies in Dhaka city, Bangladesh, using structured questionnaires. The analysis revealed that green logistics and green finance have a significant positive impact on green innovation, while the influence of the green work environment was found to be positive but statistically insignificant. Additionally, green technology was identified as a significant mediator in the relationships between green finance, green logistics, and green innovation. This study offers a comprehensive green innovation model while green technology is a mediator. Furthermore, this study advances the resource-based view theory by integrating green technology as a pivotal resource that enhances a firm's competitive advantage in sustainable markets. By adopting a multi-method approach, this research provides a rigorous examination of the research questions, offering a comprehensive understanding of the dynamic interactions between green finance, green logistics, and green technology in driving innovation. Thus, this research has thought provoking implications to prioritize investments in green finance, logistics, and technology, manufacturing firms can enhance their competitiveness, improve operational efficiency, and meet evolving environmental regulations and consumer preferences.

The impact of green finance on green growth: The role of green energy and green production.

This study examines the linkage of green finance and green growth under the regulatory role of green energy and green production in 52 countries worldwide from 2005 to 2019. Applying the Bayesian regression and GMM regression, the results of these two methods are similar. When ignoring the regulatory role of green energy and green production, green finance negatively impacts green growth. This result is entirely opposite when considering the regulatory role of green energy and green production, green finance impacts green growth positively. However, Bayesian regression is more effective when providing different posterior probability intervals and probability ranges for independent variables to affect the dependent variable. Specifically, the probability that green financial growth has a negative impact on green growth is above 75.86 %. Similarly, under the role of green energy, the probability that green finance growth has a positive impact on green growth is 80.45 % and under the role of green production, this probability is 76.64 %. These findings imply that countries should build a financial system associated with the goal of green energy and green production, thereby helping the economy become greener.

Comparative simulation of green finance-driven oil production and expulsion: Technological innovation with Expulsinator and traditional pyrolysis in near-natural conditions.

This study explores the impact of green finance and technological innovation on oil production and expulsion by comparing the Expulsinator with traditional pyrolysis methods. The Expulsinator introduces a novel approach to simulating compound production and expulsion in natural settings, utilizing hydrous decomposition in an open pass-on mode and lithostatic compression on an intact starting point disc with an undamaged mineral framework and chemical kerogen network. In contrast, traditional decomposition methods, while valuable for assessing production dynamics, are less suitable for studying primary emigration and expulsion due to sampling damage, improper pressure settings, closed-mode burning, or waterless pyrolysis. This study aims to assess the efficacy of energy production and expulsion emulation by the Expulsinator, driven by green finance initiatives, and compare it with traditional decomposition methods. Production and evacuation behaviors were evaluated using Rock Evaluation pyrolysis, HyPy, and covered small container pyrolysis (CSVP). The Expulsinator exhibited higher asphalt discharge than CSVP, attributed to increased bitumen cross-linking during traditional pyrolysis, which favors pyrobitumen formation. Variations in alkane quantities and structures were observed due to ejection impacts and production dynamics, especially delayed ejection from chromatography. Expulsinator hydrous CSVP ratios remained at 65 %, while TOC ratios exceeded 81 %. Lower gas production was observed compared to CSVP, with higher Expulsinator TOC conversion explained by the rapid removal of produced products in the open setup to prevent reformation. The Expulsinator provides valuable data on oil and gas production suitable for computational modeling tasks, highlighting the role of green finance and technological innovation in advancing sustainable energy solutions.

Analyzing nonlinear and asymmetric effects of green finance and renewable energy on energy efficiency amidst technological innovation in E7 countries.

The study aims to explore the relationship between green funding, green energy, and energy efficiency in E7 countries, guided by the SDG-7 guidelines recommended by the United Nations General Assembly. Methodologically, the study employs the Nonlinear Autoregressive Distributed Lag (NARDL) and Two-Stage Least Squares (2SLS) techniques on data collected between 1988 and 2022. The rationale for this approach lies in its ability to capture both short-term and long-term dynamics in the relationship between green funding, green energy, and energy efficiency. Analysis of the data reveals varying stages of green funding growth among E7 countries, with China (1.52), Brazil (1.44), India (1.35), Indonesia (1.94), Mexico (1.73), and Russia (1.93) exhibiting different levels of progress. Russia and Turkey are identified as having the highest Gini coefficients in 2019, indicating disparities in green funding distribution within these countries. The empirical findings underscore the critical role of investment in the energy sector by both corporations and the public sector to enhance access to electricity, bolster energy security, and foster environmentally sustainable economic development. However, the study identifies insufficient investment as a fundamental obstacle hindering progress in green energy efficiency in E7 nations. Despite the potential for implementing energy efficiency measures and renewable energy sources in E7 countries, the future remains uncertain due to existing obstacles in green financing and regulatory frameworks. Consequently, the paper emphasizes the imperative of addressing these obstacles to unlock the full funding potential for energy efficiency initiatives in E7 nations.

Driving low-carbon mechanisms through smart investments in renewable resources and green finance initiatives among G20 nations.

In light of the escalating concerns regarding climate change and environmental decline, major nations are actively exploring strategies to mitigate environmental harm and achieve future sustainability. The surge in economic expansion in developed economies is linked to an increase in CO2 emissions. Consequently, in their pursuit of carbon-neutral policies, these countries are increasingly turning towards renewable energy as a means to enhance resource conservation and efficiency. This research investigates the varied impacts of renewable energy investment, green finance, geopolitical risk, GDP growth, foreign direct investment, and gross fixed capital formation on the carbon emissions of G20 countries. The study uses the CUP-FM (Continuously Updated Fully Modified) and CUP-BC (Continuously Updated Bias-Corrected) estimators, which are sophisticated econometric approaches designed to handle non-stationary panel data and cross-sectional dependency, to produce robust long-term parameter estimates. The CUP-FM estimator adjusts for potential endogeneity and serial correlation, improving the accuracy of long-run relationships in panel data. The CUP-BC estimator provides bias-corrected estimates to further enhance the precision of these long-run connections.The long-term parameter estimates reveal a negative correlation between renewable energy investment, green finance, and carbon emissions. In contrast, foreign direct investment, gross fixed capital formation, GDP growth, and geopolitical risk are positively associated with CO2 emissions. This suggests that financial stability often leads to investments in carbon-heavy economic ventures, thereby implicating economic growth as a contributing factor to environmental degradation in G20 countries.

Green finance pilot policy and corporate environmental social responsibility: empirical evidence from China's green finance reform and innovation pilot zones.

The establishment of green finance reform and innovation pilot zone (GFRIPZ) is a pivotal strategy for harmonizing the twin goals of economic prosperity and environmental preservation. By applying panel data on Chinese A-share listed firms from 2011 to 2022, this study examines the influence of China's green finance pilot policy on corporate environmental social responsibility (ESR) using a difference-in-differences (DID) model. The study's findings indicate that the green finance pilot policy promotes corporate environmental social responsibility. The results remain robust after a series of robustness tests. Moreover, mechanism analysis reveals that the pilot policy promotes firms' ESR through three key channels: financing constraints, green innovation, and corporate governance mechanisms. Additionally, analyst attention can positively moderate the promotional effect of the green finance pilot policy on corporate ESR. Furthermore, this study reveals that the green finance pilot policy's impact on corporate ESR is more pronounced among large-scale firms and firms operating in regions characterized by stringent environmental regulations and greater marketization. The empirical findings present evidence for enhancing ESR through the implementation of the green finance pilot policy in China and offer insights for refining the green finance system.

Green finance as a driver for environmental and economic resilience post-COVID-19: A focus on China's strategy.

This study investigates the critical role of green finance in enhancing environmental and economic resilience during China's post-COVID-19 recovery. Employing sophisticated econometric techniques, including the Vector Error Correction Model (VECM) and Nonlinear Autoregressive Distributed Lag (NARDL) model, the effectiveness of green finance policies and instruments is rigorously assessed during the years 1986-2022. The findings reveal that green finance initiatives significantly fund sustainable projects and drive economic revitalization, marking substantial progress in China's eco-friendly recovery. Essential areas for improvement identified include robust policy support, technological innovation, and stronger international collaboration. Specifically, leveraging green finance effectively necessitates coordinated efforts across various sectors, ensuring it underpins China's sustainable development and resilience amid global economic challenges. The study recommends enhancing green finance mechanisms through comprehensive policy frameworks, fostering green technology innovation, and developing global partnerships to address environmental sustainability and economic recovery synergistically.

Green horizons: Overcoming political risks with strategic environmental management and financial innovation.

The impact of political risk and financial development has been widely studied in the context of sustainable environmental practices. However, their effects on green finance and sustainable finance initiatives have not been thoroughly explored. This paper fills this gap by examining the influence of the political risk financial development index on green finance across 21 OECD economies from 1990 to 2020. Unit root and cointegration tests reveal that variables are stationary at first difference, and there is a long-run cointegration among them. For the primary analysis, we employed the novel MMQR approach, which demonstrates that the financial development index enhances green finance, while the political risk index diminishes it across all quantiles - upper, median, and lower. Robustness analysis using BSQR further confirms these findings. Policies aimed at fostering financial development and reducing political risk should acknowledge the growing significance of green finance in OECD economies.

Exploring impact of green finance and natural resources on eco-efficiency: case of China.

China ranks 160 out of 180 countries in terms of ecological efficiency, with an EPI score of 28.40 and a 10-year average change in score of 11.40. This article examines the impact of green finance and China's natural resources on regional ecological efficiency using the Tobit regression model. The study uses the average yearly exchange rate to normalize dollar-related values and GDP to 2012 RMB using the price deflator. Variables used as explanatory tools include green financing, the availability of natural resources, and regional eco-efficiency. The results of the study imply that natural resources in eastern region of China are better managed as and have avoided the resource curse as compared to central and western regions. Resources temporarily support area economic and social growth. However, resource agglomeration locks many elements in the resource industry and degrades regional industrial development, generating environmental and social difficulties that may hinder regional economic progress. Given that Foreign Direct Investment (FDI) increases regional eco-efficiency after accounting for adjustment. The FDI positively correlated with ecological efficiency in the east zone, while central and western zones have negative correlations. The industrial development of the nation negatively impacts ecological efficiency in the East, Midwest, and West regions. Western results are distinctive, with ecological efficiency and regional economic growth frequently going hand in hand.

Assessing the influence of tourism development, via renewable energy and green finance in achieving high-quality economic development.

This study empirically examines the influence of tourism development, renewable energy and green finance (GF) on high-quality economic development. Using data from 33 years of data in China from 1990 to 2022, this study applies Gregory Hansen analysis to investigate the relationships between tourism development (TD), renewable energy (RE), green finance, and high-quality economic development (HQED), and accepts a Spatial auto regressive. This study demonstrates that tourism development plays a crucial role in promoting high-quality economic growth by positively impacting all three of its components. Moreover, the utilization of renewable energy further enhances the beneficial influence of green finance on the promotion of superior economic growth (EG), while also impacting the correlation between foreign direct investment (FDI) and superior economic growth. Our study suggests three policy recommendations for policymakers based on these findings. These recommendations include strengthening the integration of tourism development with GF, establishing an environmental disclosure framework to oversee local governments in enhancing the effectiveness of GF, and implementing medium- and long-term favorable policies as an external intervention strategy to encourage green finance in the private sector.

How can green finance effectively promote low-carbon cities? Evidence from 237 cities in China.

Urban areas contribute 85% of China's CO2 emissions. Green finance is an important means to support green energy development and achieve the low-carbon transformation of high-energy-consuming industries. The motivation of this article is to investigate the impact and mechanism of green finance on urban carbon intensity. Most existing literature uses linear models to investigate urban carbon intensity, ignoring the nonlinear relationships between economic variables. The nonparametric models can fill the inherent shortcomings of linear models and effectively simulate the nonlinear nexus between economic variables. Based on the 2011-2021 panel data of 237 cities in China, this paper applies the nonparametric additive model to survey the influence of green finance on urban carbon intensity. Empirical findings exhibit that green finance exerts an inverted U-shaped effect on urban carbon intensity, indicating that the carbon reduction effect of green finance has gradually shifted from inconspicuous in the early stages to prominent in the later stages. Then, from the perspectives of region, city size, and carbon intensity, this article conducts heterogeneity analysis. The results show that the impact of green finance on various carbon intensities all exhibits obvious nonlinear feature. Furthermore, this article employs a mediation effect model to conduct mechanism analysis. The results display that technological progress and industrial structure are two important mediating variables, both of which produce an inverted U-shaped nonlinear impact on urban carbon intensity.

Coupling coordination degree measurement and spatial characteristics analysis of green finance and technological innovation -Empirical analysis based on China.

The coordinated development of green finance and technological innovation is a key driver of China's high-quality economic growth and therefore deserves close attention. But are green finance and technological innovation really coordinated? This study establishes a coordinating coupling system to link green finance and technological innovation. 2010-2021 is chosen as the observation period, and 31 provinces in China are selected for study. This paper uses the coupling coordination model to investigate the development of the coupling coordination of technological innovation and green finance, and discusses its spatial distribution by the Moran index. The results show that, overall, the degree of coupling coordination between green finance and technological innovation shows a consistent upward trend. The trend is particularly strong in the East. Moreover, the coordination coupling between green finance and technological innovation has the spatial effect. And it shows a binary characteristic, with a decreasing trend observed from coastal to inland regions. These results remained valid after replacing weight matrix and sample size.The above findings have important policy implications for optimising the synergistic development of green finance and technological innovation and achieving high-quality economic development.

Positive impacts of green finance on environmental protection investment: Evidence from green finance reform and innovations pilot zone.

After long-term development, the global economic level has improved significantly, but environmental issues generated by early extensive development seriously threaten the survival of human beings. China, in particular, urgently needs to promote sustainable development through green finance policies. For this reason, this paper regards the 2017 eight pilot zones in five provinces for green finance reform and innovations (GFRIs) as a quasi-natural experiment, and explores whether it can encourage investment in environmental protection in heavily polluting enterprises by using difference-in-differences-in-differences (DDD) model. The paper finds that: First, GFRIs can bolster investment in environmental protection in heavy polluting enterprises. The results remain consistent after several robustness checks, covering the placebo test, PSM-DID test and so on. Second, mechanism tests find that the policy promotes environmental protection investment by alleviating financing constraints and cutting financing costs. Third, heterogeneity analysis shows that the promotion effect of GFRIs on environmental protection investment is more pronounced for provinces with higher percentages of secondary industry GDP, large-scale enterprises, and enterprises with better ESG management. This paper demonstrates the beneficial influence of GFRIs on promoting the transformation of heavy polluting enterprises and provides suggestions for the improvement of such policies.

Utilizing green finance to promote low-carbon transition of Chinese cities: insights from technological innovation and industrial structure adjustment.

Green finance (GF) has emerged as a promising tool to promote low-carbon development, while knowledge is rather limited regarding the underlying mechanism. This article aims to address this void by constructing a city-level GF index covering seven dimensions and identifying the main pathways through which GF can facilitate the low-carbon development of cities. Using a balanced panel data covering 277 Chinese cities from 2010 to 2020, the results show that: (1) China's GF development exhibits an overall spatial differentiation of 'high in the east and low in the west', while the distribution of carbon intensity (CI) displays an overall spatial differentiation of 'high in the north and low in the south'; (2) GF significantly decreases CI of cities, which is robust to employing DID strategies and IV estimations; (3) The role of GF on CI varies with the level of CI whereas not with the level of GF. Specifically, the mitigating effect of GF on CI is significant in both high GF and low GF groups, but only in high CI group; and (4) GF promotes low-carbon transition of cities through mainly on adjusting industrial structure rather than stimulating technological innovation. Despite we also demonstrate green finance enhances green innovation, due to multi-factors, such technology progress it brings may not always translate into a tangible improvement in green productivity. For most developing countries including China, the future policy objective of green finance should focus on enhancing sustainable technological progress.

Do pilot zones for green finance reform and innovation avoid ESG greenwashing? Evidence from China.

As ESG investments have grown, many companies are emphasizing them to impress capital markets and consumers with their responsibility and environmental consciousness. However, managers in unethical companies greenwashing ESG reports to keep clients. The present investigation employs quasi-natural experiment data obtained from a sample of 1200 Chinese A-share listed companies spanning the period from 2011 to 2021 to examine how the Green Finance Reform and Innovation Pilot Zone (GFRIPZ) affects ESG greenwashing. GFRIPZ can prevent publicly traded companies from ESG greenwashing. The statistical analysis of heterogeneity demonstrates that GFRIPZ in non-state-owned, mid-west, heavy-polluting, manufacturing industries reduces ESG greenwashing. GFRIPZ suppresses corporate ESG greenwashing better in companies with severe financial constraints and a poor corporate reputation. GFRIPZ's inhibition of corporate ESG greenwashing is enhanced by internal and external monitoring. This study shows how financial markets affect firms' ESG greenwashing. It helps implement GFRIPZ theoretically. It also recommends raising listed companies' awareness of ESG disclosure and reducing corporate ESG greenwashing.

Does green finance matter for agricultural carbon abatement? Fresh insight from China.

Green finance constitutes a fundamental financial institutional arrangement aimed at achieving the dual-carbon objective during China's agricultural transition toward low-carbon, which aligns with the pragmatic necessity for reducing agricultural carbon emissions. For this purpose, this study investigates the impact of green finance on agricultural carbon reduction and its underlying mechanism by analyzing panel data from 30 regions using a two-way fixed effects model. Results indicate that green finance significantly promotes agricultural carbon reduction. The promotion effect of green finance on agricultural carbon reduction demonstrates an uneven spatial distribution, declining from eastern to western to central regions. Notably, non-Yangtze River Economic Belt provinces exhibit more pronounced effects compared to the Yangtze River Economic Belt region. Industrial structure upgrading and green innovation serve as crucial pathways for green finance to augment agricultural carbon reduction. Our finding reveals policymakers should implement differentiated green finance implementation strategies to accelerate the restructuring of the agricultural industry and encourage the introduction and use of innovative low-carbon technologies.