Do Green Finance and Environmental Regulation Play a Crucial Role in the Reduction of CO2 Emissions? An Empirical Analysis of 126 Chinese Cities

Sustainability

Ehsan Elahi¹  Fushuai Wang¹  Wenxia Cai¹ 

[1] School of Economics, Shandong University of Technology (SDUT), Zibo 255000, China;

关键词: green finance;    environmental regulation;    CO₂ emissions;    resource-based cities;    dynamic panel model;    China;   

DOI  :  10.3390/su132313014

来源: DOAJ

【 摘 要 】

Green finance and environmental regulation can reduce CO₂ emissions and promote the sustainability of economic development. Based on panel data of 126 resource-based prefecture-level cities in China from 2005 to 2017, the current study used a dynamic panel data model to empirically determine the CO₂ emission reduction effects of different green finance instruments under different environmental regulatory intensities. The results showed that green finance tools had significant negative effects on the intensity of CO₂ emissions, and green finance can adapt to environmental regulations of different intensities, which cooperated to promote carbon emission reduction. Moreover, in comparison, the debt-based green finance instrument had a stronger effect than the equity-based green finance instrument, and they did not show a coupling relationship. An administrative adjustment in green finance and environmental regulation is required to reduce environmental emissions and to improve sustainable development.

【 授权许可】

Unknown