How does green finance affect energy efficiency? The role of green technology innovation and energy structure

被引:31
|
作者
Lee, Chien-Chiang [1 ,2 ,5 ]
Wang, Chang-song [1 ,5 ]
He, Zhiwen [1 ,5 ]
Xing, Wen-wu [1 ]
Wang, Keying [3 ,4 ]
机构
[1] Nanchang Univ, Sch Econ & Management, Nanchang, Peoples R China
[2] Lebanese Amer Univ, Adnan Kassar Sch Business, Beirut, Lebanon
[3] Hubei Univ Econ, Collaborat Innovat Ctr Emissions Trading Syst Coco, Wuhan, Peoples R China
[4] Hubei Univ Econ, Sch Low Carbon Econ, Wuhan, Peoples R China
[5] Nanchang Univ, Res Ctr Cent China Econ & Social Dev, Nanchang, Peoples R China
关键词
Energy efficiency; Green finance; Energy structure; Green technology innovation; ECONOMIC-GROWTH; INVESTMENT; PROGRESS; TRADE;
D O I
10.1016/j.renene.2023.119417
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
As climate warming intensifies, reducing greenhouse gas emissions has become a national consensus for many countries. Green finance plays an important role in promoting energy efficiency and lowering such emissions, but there is scant literature that analyzes the impacts and mechanisms of green finance on energy efficiency. Based on China's provincial panel data from 2010 to 2018, this research measures the green finance index using the panel entropy weighting method and systematically evaluates the relationship between green finance and energy efficiency using the fixed-effects model. The results show the following. (1) Green finance significantly contributes to energy efficiency and remains the same after a series of robustness tests such as endogeneity treatment, replacement of explanatory and interpreted variables, and replacement of regression models. (2) Green technology innovation and energy structure optimization are the transmission mechanism of green finance for energy efficiency, which means that green finance improves energy efficiency by promoting green technology innovation and energy structure optimization. (3) There is regional heterogeneity, temporal heterogeneity, and industry heterogeneity in the impact of green finance on energy efficiency. The positive effects of green finance on energy efficiency are more pronounced in resource-dependent regions, regions with irrational industrial structure, north regions, industrial sectors, and after 2013. The conclusions of this paper offer some policy recommendations, including promoting the development of green finance, building a cooperation platform for green finance and technological innovation, enhancing the depth and breadth of renewable energy utilization, and building differentiated green finance strategies according to local conditions.
引用
收藏
页数:12
相关论文
共 50 条
  • [1] How does renewable energy technology innovation affect the upgrading of industrial structure? The moderating effect of green finance
    Ge, Tao
    Cai, Xuesen
    Song, Xiaowei
    [J]. Renewable Energy, 2022, 197 : 1106 - 1114
  • [2] How does renewable energy technology innovation affect the upgrading of industrial structure? The moderating effect of green finance
    Ge, Tao
    Cai, Xuesen
    Song, Xiaowei
    [J]. RENEWABLE ENERGY, 2022, 197 : 1106 - 1114
  • [3] Exploring the nexus between green finance and energy efficiency: Unravelling the impact through green technology innovation and energy structure
    Liu, Ziqi
    Zheng, Hanyu
    Gu, Jingyun
    Xu, Shengjie
    Ye, Youyang
    [J]. HELIYON, 2024, 10 (09)
  • [4] How Does Green Finance Reform Affect Enterprise Green Technology Innovation? Evidence from China
    Lu, Na
    Wu, Jiahui
    Liu, Ziming
    [J]. SUSTAINABILITY, 2022, 14 (16)
  • [5] How does green finance policy in China help reduce pollution emissions? Energy efficiency improvement or green innovation
    Xiao, Bowen
    Guo, Xiaoying
    Guo, Xiaodan
    Wang, Jian
    [J]. JOURNAL OF CLEANER PRODUCTION, 2024, 467
  • [6] Digitization and green innovation: how does digitization affect enterprises' green technology innovation?
    Xu, Qiong
    Li, Xin
    Dong, Yu
    Guo, Fei
    [J]. JOURNAL OF ENVIRONMENTAL PLANNING AND MANAGEMENT, 2023,
  • [7] How does green finance affect the low-carbon economy? Capital allocation, green technology innovation and industry structure perspectives
    Zhu, Yue
    Zhang, Juntao
    Duan, Caiquan
    [J]. ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA, 2022, : 3519 - 3541
  • [8] How does environmental regulation affect real green technology innovation and strategic green technology innovation?
    Zhang, Ming
    Yan, Taihua
    Gao, Wen
    Xie, Wancheng
    Yu, Zhipeng
    [J]. SCIENCE OF THE TOTAL ENVIRONMENT, 2023, 872
  • [9] How does green finance promote renewable energy technology innovation? A quasi-natural experiment perspective
    Nepal, Rabindra
    Liu, Yang
    Wang, Jianda
    Dong, Kangyin
    [J]. ENERGY ECONOMICS, 2024, 134
  • [10] How does CEO green experience affect green innovation of energy firms? Evidence from China
    Zhang, Jingxue
    Zhang, Kun
    [J]. ENERGY & ENVIRONMENT, 2023,