Search Results (647)

Reducing agricultural emissions is vital for climate mitigation, yet evidence on green finance’s potential to facilitate agricultural decarbonization—particularly in China—remains scarce. Leveraging China’s Green Finance Reform and Innovation Pilot Zones as a quasi-natural experiment, this study employs a staggered difference-in-differences design and complementary Callaway-Sant’Anna estimates. Using a balanced panel of 282 prefecture-level and above cities spanning 2012–2022—a window covering five pre-policy years before the initial 2017 pilot rollout and sufficient post-policy years to capture dynamic effects for the 2017, 2019, and 2022 cohorts—this study assesses the policy impact on agricultural carbon emission intensity. The findings reveal that the pilot policy reduces emission intensity by approximately 9.2% on average. This result is robust across event-study analyses, placebo tests, PSM-DID, policy interference checks, and alternative outcome specifications. Channel-consistent evidence suggests that the effect operates through three mechanisms: greener credit allocation, stronger green technological innovation, and lower-carbon adjustment of the agricultural production structure. The effect is larger in eastern China, major grain-producing regions, and cities with higher levels of financial development, and exhibits a strengthening trend over time. By analyzing China’s city-based pilot approach, this study demonstrates how financial policy can support agricultural decarbonization in settings characterized by dispersed emitters, imperfect environmental monitoring, and strong food-security constraints. The findings extend beyond China to inform other developing economies seeking non-price-based pathways to greener agriculture. Full article

To address global climate challenges, China’s transition toward a green, low-carbon economy underscores the critical role of green finance (GF) as a key policy instrument. Against this backdrop, clarifying how GF influences green technology innovation (GTI) has become an urgent research priority. Using panel data from 283 Chinese cities (2012–2023), this study estimates a panel threshold model to examine the non-linear relationship between GF and GTI, with environmental regulation (ER) as the threshold variable. The results, validated by robustness and endogeneity tests, reveal the following: (1) GF exerts a double-threshold effect on GTI, with its promoting effect strengthening between thresholds but weakening beyond the second threshold. (2) ER exhibits a significant single-threshold effect; beyond it, GF’s contribution to GTI is substantially enhanced. (3) Three types of heterogeneity analysis are performed based on geographical regions, historical endowments, and whether a city is classified as an innovation-driven city. Overall, the results indicate that the threshold effects are more pronounced in eastern regions, cities with stronger historical endowments, and innovation-driven cities. These findings not only deepen the theoretical understanding of the GF–ER–GTI nexus but also provide empirically grounded insights for designing differentiated GF policies and region-specific environmental regulation strategies, thereby supporting both China’s low-carbon transition and global climate governance efforts. Full article

Under the strategic constraints of global carbon emission targets, how supply chain management can effectively drive enterprises’ low-carbon transformation has become an important issue. Based on China’s Supply Chain Innovation and Application Pilot Program (SCIAPP), this paper approaches it as a quasi-natural experiment to empirically investigate how supply chain management affects enterprises’ low-carbon technological innovation (LCTI). This paper uses the data from publicly listed companies in China. and the difference-in-differences approach to empirically test the policy effect of SCIAPP and determine its influencing path. The study finds that first, SCIAPP significantly enhances enterprises’ LCTI level by approximately 14.2%. Second, SCIAPP mainly achieves this through three mechanisms, including strengthening enterprises’ green management, promoting digital transformation, and improving operational efficiency. Third, the impact effect is stronger in enterprises with more robust environmental management systems, fewer financing constraints and higher capital intensity. Additionally, the LCTI driven by SCIAPP can further positively impact the supply chain resilience. This study innovatively incorporates pilot policies, supply chain management, and LCTI for analysis, providing theoretical evidence and empirical support for the government to optimize supply chain governance and achieve climate goals. Full article

The European Union aims to cut greenhouse gas emissions by 55% by 2030 and reach climate neutrality by 2050, targets that depend on expanding renewable generation in the European energy system. While photovoltaic (PV) capacity has grown quickly in several member states, others remain far behind. This paper frames that divergence as a systems planning problem: installed MW expands through diffusion-like dynamics, but the conversion of investment into energizable capacity is filtered by grid-integration constraints and institutional throughput. The study develops a macro-level framework for systems-level assessment and decision support to guide PV capacity planning and budget allocation using official 2012–2022 data for 22 EU countries. We combine (i) unsupervised clustering of standardized national deployment trajectories, (ii) bounded logistic fits interpreted as an operational diffusion-with-saturation representation that yield comparable growth parameters and maturity years (80–90% of the estimated ceiling), and (iii) a proportional reallocation scenario for countries below 5 GW in 2022. Three clusters emerge—steady growth, early plateau, and atypical paths—and an analytically tractable maturity indicator integrates capacity, rate, and timing in a single measure. In a 10 GW reallocation scenario, average progress toward the 5 GW benchmark rises from 9.8% to 23.1%, closing about 14.8% of the aggregate shortfall. The allocation experiment reveals a clear asymmetry: systems with an existing installed base convert additional MW into benchmark progress more efficiently than very low-baseline systems, where binding constraints are more likely to sit in permitting, interconnection queues, and hosting capacity rather than in finance alone. Turning these allocations into usable capacity depends on timely interconnection and power-electronics integration and on grid-enablement constraints such as interconnection readiness, inverter compliance, and local hosting capacity in high-penetration areas. The contribution is a transparent, updateable decision-support pipeline that links observed trajectory regimes to a maturity “clock” and an auditable allocation baseline, making the trade-off between closing capacity gaps and respecting feasibility filters explicit in an EU system with heterogeneous national subsystems. The proposed approach links macro-level maturity clusters to operational feasibility signals in the grid integration layer, showing that modeling-based allocation can improve system progress but cannot substitute grid-enablement measures, highlighting the importance of regional coordination in the EU energy system under heterogeneous national trajectories. Full article

Climate-related economic losses across Europe have evolved from isolated environmental shocks to persistent, structurally embedded fiscal risks, posing a direct challenge to the long-term fiscal sustainability of European states. This study presents an empirical framework for diagnosing and quantifying this transformation across 38 European countries between 1980 and 2023. Combining regime-switching time-series models with a two-part panel design, we identify temporal shifts and spatial asymmetries in loss exposure. Our findings reveal the emergence of a high-loss regime from the early 2000s, alongside a widening inequality in national vulnerability, with countries such as France, Germany, Italy, and Spain bearing a disproportionate burden. This concentration raises critical questions about the sustainability and equity of current EU risk-sharing frameworks. The two-part model further disaggregates the probability of experiencing losses from their conditional magnitude, enabling country-level estimates of expected annual losses. These results highlight the limitations of current fiscal instruments, which remain reactive and fail to align with the spatial and temporal dynamics of climate risk. We argue for a shift from climate loss management to climate loss governance, underpinned by predictive analytics, differentiated policy tools, and a reorientation of EU fiscal solidarity mechanisms. By quantifying, measuring, and spatially disaggregating climate-related fiscal exposure, this study contributes directly to the sustainability agenda: it demonstrates that climate losses are no longer exogenous disruptions but endogenous features of the European economic landscape that must be integrated into sustainable development planning, fiscal governance, and EU-level adaptation policy. Full article

Illegal artisanal and small-scale mining (galamsey) and climate stress jointly degrade ecosystems and livelihoods in Ghana. This paper demonstrates how community-driven governance can realign incentives toward environmental stewardship and inclusive livelihoods. Using an explanatory sequential mixed-methods design—quantitative difference-in-differences followed by qualitative case analysis and Participatory Action Research—we evaluate a structured program combining vocational training, financial literacy, environmental stewardship, and governance alignment. We operationalize Environmental, Social, and Governance (ESG) outcomes via transparent composite indices and triangulate survey, administrative, and focus group evidence. The study identifies conditions under which alternative livelihoods reduce participation in illegal mining, strengthen women’s economic agency, and improve adoption of climate-smart practices. Implications include practical guidance for program design (community delivery, matched incentives, oversight), policy (local climate finance and accountability mechanisms), and research (scalable indicators and rigorous impact evaluation in resource-dependent communities). Full article

Climate hazards increasingly disrupt schooling, revealing the limits of preparedness models that treat teachers only as implementers. This study reframes teacher empowerment as a climate-resilience capability and examines how governance arrangements enable (or constrain) hazard-ready education systems. Guided by the Preferred Reporting Items for Systematic Reviews and Meta-Analyses extension for Scoping Reviews (PRISMA-ScR), searches of Web of Science, Scopus, and Google Scholar (2000–2025) identified 53 eligible studies. Across diverse hazards and settings, the evidence converges on a governance-to-capability pathway: empowerment becomes resilient performance only when the delegated decision space is matched with financed capacity (time, training, contingency resources), timely risk information and functional communication/digital infrastructure, institutionalized cross-sector coordination (education–DRR–health–protection–local government), and learning-oriented accountability (after-action review and adaptive revision rather than punitive compliance). Reported outcomes include higher preparedness quality, earlier protective action, improved learning continuity and safeguarding, and more sustainable teacher well-being/retention. Predictable failure modes include mandate–resource mismatch, accountability overload, unstable centralization–autonomy dynamics, and inequitable empowerment distribution affecting rural schools, women, and contract teachers, and disability inclusion. The evidence gaps remain pronounced for chronic hazards (especially heat and wildfire smoke), high-vulnerability contexts (fragile/conflict settings and informal settlements), and standardized measures of equity, burden distribution, governance performance, and cost-effectiveness. Policies should prioritize integrated governance packages with explicit protection and equity safeguards. Full article

Pricing multi-peril agricultural insurance under compound climate hazards demands a framework that captures stochastic dependence among heterogeneous perils, accommodates non-stationary loss dynamics, and supports adaptive policy optimisation. We demonstrate that backward stochastic differential equations, combined with copula dependence, recurrent neural networks, and reinforcement learning, provide a unifying language for this task; the contribution lies in their principled integration. The dynamic premium is the unique adapted solution of a BSDE whose driver encodes compound-risk dependence through a Student-t copula, forward loss dynamics through a jump-diffusion process, and a green-finance adjustment through an optimal control variable. Within this framework we derive three progressive results by adapting standard BSDE theory to the compound-dependence and policy-control setting. First, existence and uniqueness hold under Lipschitz and square-integrability conditions. Second, a comparison theorem guarantees that a larger correlation matrix yields higher premiums; the degrees-of-freedom effect enters separately through the risk-loading magnitude. Third, the Euler discretisation converges at a rate of one half of the time-step size, with copula estimation, LSTM conditional expectation approximation, and Q-learning HJB solution as sequential components. Applied to eleven Zhejiang cities (2014–2023, $N \times T=110$), in this illustrative application the framework reduces premium variance by 43.5 percent (bootstrap 95% CI: $[38.2\%,48.7\%]$) while maintaining actuarial adequacy with a mean loss ratio of 0.678, though the modest sample size warrants caution in generalising these findings. Each component contributes statistically significant improvements confirmed by the Friedman test at the 0.1 percent significance level. Full article

Trade policy uncertainty (TPU) plays an important role in shaping corporate green innovation. Although prior studies have widely examined climate policy uncertainty and carbon emissions trading schemes, the role of trade policy itself remains underexplored. This study fills this gap by constructing a firm-level TPU index based on textual analysis of annual reports from Chinese listed firms. The results reveal an inverted U-shaped relationship. Moderate TPU encourages green innovation, while excessive uncertainty suppresses it. These findings are robust across alternative specifications. Further moderating effect analysis shows that R&D investment and market power amplify the inverted U-shaped relationship between TPU and green innovation. In contrast, financing constraints attenuate this relationship. Heterogeneity tests corroborate the robustness of these moderating effects. This study deepens our understanding of corporate green transition and provides policy implications for sustaining innovation under global trade volatility. Full article

Despite the well-documented acceleration of climate-related economic losses in Europe, existing research has largely treated these damages as isolated stochastic events rather than as structurally embedded fiscal risks. This gap leaves EU fiscal governance frameworks inadequately prepared for the persistent, spatially concentrated, and temporally dependent nature of such losses. This study addresses this gap by investigating the systemic transformation of climate-related economic risks within the European Union, arguing that climate losses have evolved from unpredictable stochastic shocks into a persistent, structural burden on the European economy. Adopting a comprehensive multi-methodological approach, the research quantifies this transition by integrating spatial concentration metrics (HHI), advanced time-series modelling (OLS, ARIMA, ETS), and anomaly detection techniques to analyse loss patterns across the EU-27 from 1980 to 2023. The empirical results demonstrate three critical systemic dimensions: (1) a statistically significant upward shift in the baseline of economic damages; (2) a high geographical concentration of losses, with Germany, Italy, and France consistently bearing the largest share of climate-driven fiscal pressure; and (3) the emergence of volatility clustering, indicating that climate risks are becoming increasingly non-linear and embedded in the macroeconomic environment. The study contributes to the literature by reframing climate-related economic losses as a systemic fiscal phenomenon requiring structural governance reform, rather than ad hoc disaster response. The findings suggest that existing reactive policy frameworks are insufficient to address the scale of these structural risks. Consequently, the paper advocates for a paradigm shift in EU climate policy—moving toward anticipatory fiscal instruments, harmonised resilience financing, and monitoring systems designed to mitigate systemic volatility and cross-country economic asymmetry rather than merely responding to isolated disaster events. Full article

Sustained innovation is pivotal for establishing long-term technological advantages and ensuring corporate sustainability, which holds particular significance for “specialized, refined, unique, and innovative” (SRUI) enterprises that concentrate on niche segments and are innovation-intensive. Grounded in signaling theory and principal–agent theory, and situated within the practical context of financing constraints, this paper investigates how environmental, social, and governance (ESG) performance contributes to sustaining innovation in such firms. Using panel data from Chinese SRUI enterprises between 2010 and 2023, we measure sustained innovation along two dimensions: sustained innovation input and sustained innovation output. The results demonstrate that ESG performance significantly enhances sustained innovation among SRUI enterprises. Mechanism analysis reveals that ESG operates through three pathways: optimizing talent structure, mitigating managerial myopia, and strengthening working capital management. Heterogeneity tests further indicate that the positive effect of ESG on overall innovation sustainability is stronger with a younger management team and lower government subsidies. Moreover, in firms with heightened climate risk perception, ESG strongly promotes the sustained innovation input but exhibits a weaker effect on the continuity of innovative output. In enterprises with stronger big-data technology application capabilities, ESG significantly improves the continuity of patent output yet does not significantly affect the continuity of innovative input. This study extends the literature on the economic consequences of ESG from the perspective of sustained innovation, while providing new mechanistic evidence for understanding how highly specialized small and medium-sized enterprises build long-term innovation capacity. Full article

The European Union’s transition to climate neutrality by 2050 requires measurable reductions in energy consumption and greenhouse gas emissions, especially in territories characterized by geographical constraints, such as mountainous regions. The study analyzes how European funding guidelines are translated into concrete technical interventions for public buildings in mountainous areas of Romania, using a representative case study from Rodna, Bistrița-Năsăud County. The methodology is based on the national energy performance calculation framework (Mc 001/2022), harmonized with Directive 2010/31/EU and aligned with the EN ISO 52016-1 framework, while maintaining compatibility with the quasi-steady-state methodology implemented in MC 001/2022, and includes the assessment of compliance with the “Do No Significant Harm” (DNSH) principle also. The integrated energy rehabilitation of the analyzed building led to reductions in final energy consumption of 30–45%, primary energy consumption of 40–45%, and operational CO₂ emissions of 45–50%. The integration of renewable energy sources increased their share to approximately 35% of the building’s energy mix. The estimated annual reduction of 40–45 tons of CO₂ highlights the direct climate impact of investments financed from European funds. The results confirm that European funding instruments function not only as financial mechanisms, but also as governance instruments capable of steering the transition towards a low-emission construction sector in vulnerable mountain regions. Full article

The global built environment accounts for a substantial share of greenhouse gas emissions, driven by energy-intensive operations, carbon-heavy construction materials, and ageing building stock. Achieving the climate commitments under the Paris Agreement and South Africa’s Nationally Determined Contributions (NDCs) demands an urgent transition toward net-zero carbon buildings. This paper explores strategic interventions that can fast-track decarbonisation across residential, commercial, and public infrastructure, combining technological innovation with enabling policies and market mechanisms. A structured, closed-ended questionnaire survey was administered to registered and practising construction professionals in the South African construction industry. The retrieved data were subjected to exploratory factor analysis (EFA). Findings from the EFA revealed five clusters: sustainable building advancement, policy and investment, building energy optimisation, comprehensive support, and sustainable design and technology integration strategies. The study concludes that achieving net-zero buildings at scale requires a coordinated “whole-system” approach, such as stringent regulatory frameworks, innovative financing, skilled human capital, and a cultural shift among stakeholders. South Africa’s experience can provide a template for other emerging economies, showing that rapid decarbonisation of buildings is technically feasible and economically advantageous when immediate and collaborative action is taken. Full article

Forest and landscape restoration (FLR) represents a critical nexus of climate change mitigation, biodiversity conservation, and sustainable development. Despite substantial federal investments and commitments, empirical subnational research quantifying the relationships between governance structures, funding mechanisms, and restoration outcomes remains scarce, and integrated implementation frameworks bridging institutional, technical, and socio-economic dimensions are largely absent from the literature. This study presents a mixed-methods analysis of FLR implementation gaps across Maryland, Virginia, and West Virginia. Three Mid-Atlantic Appalachian states selected for their contrasting ecological conditions, governance structures, and restoration trajectories that collectively represent the heterogeneity of subnational restoration challenges. We examined 147 restoration projects (2019–2024), conducted 25 stakeholder interviews, and analyzed federal funding allocations ($428 million) through spatial and temporal frameworks. Our findings reveal five critical implementation barriers: (1) policy incoherence across federal–state–local jurisdictions creating 34% project delays; (2) chronic underfunding with 63% of projects receiving less than 60% of planned budgets; (3) technical capacity deficits affecting 71% of rural communities; (4) inadequate stakeholder engagement mechanisms reducing project sustainability by 45%; and (5) insufficient monitoring frameworks limiting adaptive management. We introduce an Integrated Restoration Implementation Framework (IRIF) that uniquely integrates policy coordination, sustainable financing, technical capacity building, and community engagement within a unified adaptive management cycle, operationalized through empirically derived thresholds, to guide evidence-based interventions. Quantitative analyses demonstrate that multi-stakeholder governance models increase restoration success rates by 2.3-fold (p < 0.001), while integrated funding mechanisms improve long-term sustainability by 67%. Theoretically, this study advances socio-ecological systems scholarship by providing empirical evidence that multi-scalar governance configurations and integrated stakeholder engagement mechanisms are principal determinants of restoration success, advancing the evidence base for adaptive governance approaches in complex federal systems. Our findings provide actionable intelligence for policymakers and practitioners, while underscoring that sustainable FLR in complex federal systems depends on coherent multi-level governance architectures coordinating institutional mandates, financial resources, technical capacity, and community agency across jurisdictional scales. Full article

This paper explores how climate risks affect the spillover between cryptocurrency and precious metals markets, given the increased interplay between climate-related threats and financial markets. The dynamic spillovers of the cryptocurrency and precious metals markets are analyzed initially by the TVP-VAR-DY model. Subsequently, it investigates how transition risk and physical risk affect these spillovers using quantile Granger causality (QGC), quantile–quantile regression (QQR), and wavelet quantile regression (WQR), with a particular focus on the differences in the results across the pre- and during-COVID-19 periods. The results show that climate risks significantly affect the spillovers in the cryptocurrency and precious metals markets, and these effects are heterogeneous in nature. Specifically, it is found that, under normal market conditions, both TRI and PRI have the effect of strengthening the spillovers. However, in extreme market states, their influences weaken because of investor distraction. In addition, at extremely low levels of climate risk, both TRI and PRI tend to intensify spillovers, and the impact of PRI is more pronounced. Moreover, during the COVID-19 crisis, climate risks seemed to have a limited effect in the short run, while they were more sustainable in the long run. These findings offer crucial implications for mitigating climate-related systemic risks and fostering a resilient, sustainable financial ecosystem amidst global decarbonization efforts. Full article