Search Results (522)

In recent years, growing concerns over environmental degradation and deepening awareness of the necessity of sustainable development have propelled green and low-carbon energy transition into a focal issue for both academia and policymakers. By decomposing energy transition into the transformation of energy structure and the upgrading of energy efficiency, this study investigates the impact and mechanisms of green finance on energy transition across 30 provinces (municipalities and autonomous regions) in China, with the exception of Tibet. In addition, the impact of climate change is incorporated into the analytical framework. Empirical results demonstrate that green finance development significantly accelerates energy transition, a conclusion robust to rigorous validation. Analysis of the mechanism shows that green finance promotes energy transition through the facilitation of technological innovation and the upgrade of industrial structures. Moreover, empirical evidence reveals that climate change undermines the promotional influence of sustainable finance on energy system transformation. The magnitude of this suppression varies nonlinearly across provincial jurisdictions with differing energy transition progress. Regional heterogeneity analyses further uncover marked discrepancies in climate–finance interactions, demonstrating amplified effects in coastal economic hubs, underdeveloped western provinces, and regions with mature eco-financial markets. According to these findings, actionable policy suggestions are put forward to strengthen green finance and accelerate energy transition. Full article

With the increasing global emphasis on sustainable development goals, and in the context of pursuing high-quality sustainable development of the economy and enterprises, this study empirically examines the effect of digital finance on corporate financing constraints and the impact on corporate green innovation with a sample of China’s A-share-listed companies in the period of 2011–2020 and explores the issue from the perspectives of management power and corporate social responsibility (CSR) at the micro level of enterprises. The empirical results show that digital finance can indeed alleviate corporate financing constraints. Still, the synergistic effect of the two on corporate green innovation produces a “quantitative and qualitative separation” effect, which only promotes the enhancement of iconic green innovation, and the effect on substantive green innovation is not obvious. The power of management and CSR performanceshave different moderating roles in the alleviation of financing constraints by the empowerment of digital finance. Management power and corporate social responsibility have different moderating effects on digital financial empowerment to alleviate financing constraints. The findings of this study enrich the research in related fields and provide more basis for the promotion of digital financial policies and more solutions for the high-quality development of enterprises. Full article

Improving green innovation quality is a critical component for speeding green transformation and generating high-quality growth. This study examines the link between the pilot zone for green finance reform and innovations (PZGFRI) policy and the quality of green innovation in Chinese A-share listed firms from 2010 to 2020. This study demonstrates that the PZGFRI may greatly enhance the quality of enterprises’ green innovation. Additionally, by promoting environmental investment and reducing financial barriers, we use the mediating effect model to confirm that the PZGFRI improves the enterprises’ quality of green innovation. Meanwhile, the heterogeneity analysis demonstrates that the PZGFRI is more successful in raising the green innovation quality in state-owned, large-sized, and heavily polluting businesses. Our study’s findings offer a strong theoretical basis for improving the PZGFRI and encouraging businesses to undergo high-quality transformation. Full article

The green transformation of traditional energy structures and the development of the new energy industry are crucial drivers of sustainable development in the country. The ASEAN Plan of Action for Energy Cooperation (2016–2025; APAEC [2016–2025]), established in 2016, has significantly promoted the growth of the new energy sector and enhanced energy structures across Association of Southeast Asian Nations (ASEAN). This initiative has also inspired these countries to develop corresponding industrial policies aimed at supporting the new energy vehicle (NEV) industry, resulting in significant growth in this sector within the ASEAN region. This paper analyzes the factors influencing the development of the NEV industry in the context of ASEAN’s new energy policies, drawing empirical insights from data collected across six ASEAN countries from 2013 to 2024. Following the implementation of the APAEC (2016–2025), it was observed that ASEAN countries reached a consensus on energy development and cooperation, collaboratively advancing the NEV industry through regional policies. Furthermore, factors such as national governance, financial development, education levels, and the size of the automotive market positively contribute to the growth of the NEV industry in ASEAN. Conversely, high energy consumption can hinder its progress. Additionally, further research indicates that the APAEC (2016–2025) has exerted a more pronounced impact on countries with robust automotive industry foundations or those prioritizing relevant policies. The findings of this paper offer valuable insights for ASEAN countries in the formulating policies for the NEV industry, optimizing energy structures, and achieving low-carbon energy transition and sustainable development. Full article

Based on a comprehensive review of the current research status of ecological compensation both domestically and internationally, combined with field survey data, this study delves into the issue of multi-stakeholder participation in the ecological compensation mechanisms of the Xin’an River Basin. This research reveals that the joint participation of multiple stakeholders is crucial to achieving the goals of ecological compensation in river basins. The government plays a significant role in macro-guidance, financial support, policy guarantees, supervision, and management. It promotes the comprehensive implementation of ecological environmental protection by formulating relevant laws and regulations, guiding the public to participate in ecological conservation, and supervising and punishing pollution behaviors. The public, serving as the main force, forms strong awareness and behavioral habits of ecological protection through active participation in environmental protection, monitoring, and feedback. As participants, enterprises contribute to industrial transformation and green development by improving resource utilization efficiency, reducing pollution emissions, promoting green industries, and participating in ecological restoration projects. Scientific research institutions, as technology enablers, have effectively enhanced governance efficiency through technological research and innovation, ecosystem value accounting to provide decision-making support, and public education. Social organizations, as facilitators, have injected vitality and innovation into watershed governance by extensively mobilizing social forces and building multi-party collaboration platforms. Communities, as supporters, have transformed ecological value into economic benefits by developing characteristic industries such as eco-agriculture and eco-tourism. Based on the above findings, further recommendations are proposed to mobilize the enthusiasm of upstream communities and encourage their participation in ecological compensation, promote the market-oriented operation of ecological compensation mechanisms, strengthen cross-regional cooperation to establish joint mechanisms, enhance supervision and evaluation, and establish a sound benefit-sharing mechanism. These recommendations provide theoretical support and practical references for ecological compensation worldwide. Full article

Amid intensifying global ESG regulations and the expanding influence of green finance, China’s digital economy policies have emerged as key institutional instruments for promoting corporate sustainability. Leveraging the implementation of the National Big Data Comprehensive Pilot Zone as a quasi-natural experiment, this study utilizes panel data of Chinese listed firms from 2009 to 2023 and applies multi-period Difference-in-Differences (DID) and Spatial DID models to rigorously identify the policy’s effects on corporate ESG performance. Empirical results indicate that the impact of digital economy policy is not exerted through a direct linear pathway but operates via three institutional mechanisms, enhanced information transparency, eased financing constraints, and expanded fiscal support, collectively constructing a logic of “institutional embedding–governance restructuring.” Moreover, disruptive technological innovation significantly amplifies the effects of the transparency and fiscal mechanisms, but exhibits no statistically significant moderating effect on the financing constraint pathway, suggesting a misalignment between innovation heterogeneity and financial responsiveness. Further heterogeneity analysis confirms that the policy effect is concentrated among firms characterized by robust governance structures, high levels of property rights marketization, and greater digital maturity. This study contributes to the literature by developing an integrated moderated mediation framework rooted in institutional theory, agency theory, and dynamic capabilities theory. The findings advance the theoretical understanding of ESG policy transmission by unpacking the micro-foundations of institutional response under digital policy regimes, while offering actionable insights into the strategic alignment of digital transformation and sustainability-oriented governance. Full article

As a key engine driving China’s green financial transformation, the Green Financial Reform and Innovation Pilot Zones have demonstrated significant achievements in enhancing the capacity of financial services to support green real economies, preventing and mitigating green financial risks, and bolstering national and urban economic resilience. On this basis, a spatial Markov chain model is applied to further analyze the economic toughness of prefecture-level cities. This study treats the establishment of these pilot zones as a quasi-natural experiment, using panel data from 269 prefecture-level cities in China from 2013 to 2023 and employing a multi-period difference-in-differences (DID) model to empirically examine the impact of green financial reform on urban economic resilience and its underlying mechanisms. The results reveal that the establishment of these pilot zones significantly enhances urban economic resilience. Specifically, green financial reforms primarily improve urban economic resilience by increasing credit accessibility and capital allocation efficiency in the pilot cities. Furthermore, the policy effects are more pronounced in large cities and resource-dependent cities compared to small and medium-sized cities and non-resource-dependent cities, with stronger impacts observed in southern and coastal regions than in northern inland areas. Additionally, the policy effects are significantly greater in environmentally prioritized cities than in non-prioritized cities. By integrating green financial reforms and urban economic resilience into a unified analytical framework, this study provides valuable insights for policymakers to refine green financial strategies and design resilience-enhancing policies. Full article

This study examines the contributions of renewable energy transition (RET) and environmental innovation (EI) to environmental performance in G7 countries from 2003 to 2021, with a focus on the transmission channels of green finance and environmental governance. Using the Augmented Mean Group (AMG) estimator and confirming robustness through the Dynamic Common Correlated Effects Mean Group (DCCE-MG) method, the study explores both direct and indirect effects of RET and EI on two key environmental indicators: the Environmental Performance Index and the Load Capacity Factor. The results reveal that both RET and EI have a significant impact on environmental performance. Moreover, green finance and environmental governance serve as crucial channels through which RET and EI exert their influence. These findings underscore the importance of developing effective financial instruments and robust regulatory frameworks to translate energy and innovation policies into tangible environmental benefits. By highlighting the interplay between technological advancement, financial capacity, and institutional quality, this study provides novel insights into the environmental policy landscape of advanced economies and offers guidance for designing integrated strategies to achieve long-term sustainability goals. Full article

Urban areas are responsible for most of Europe’s energy demand and emissions and urgently require building retrofits to meet climate neutrality goals. This study evaluates the energy efficiency potential of three public school buildings in western Macedonia, Greece—a cold-climate region with high heating needs. The buildings, constructed between 1986 and 2003, exhibited poor insulation, outdated electromechanical systems, and inefficient lighting, resulting in high oil consumption and low energy ratings. A robust methodology is applied, combining detailed on-site energy audits, thermophysical diagnostics based on U-value calculations, and a techno-economic assessment utilizing Net Present Value (NPV), Internal Rate of Return (IRR), and SWOT analysis. The study evaluates a series of retrofit measures, including ceiling insulation, high-efficiency lighting replacements, and boiler modernization, against both technical performance criteria and financial viability. Results indicate that ceiling insulation and lighting system upgrades yield positive economic returns, while wall and floor insulation measures remain financially unattractive without external subsidies. The findings are further validated through sensitivity analysis and policy scenario modeling, revealing how targeted investments, especially when supported by public funding schemes, can maximize energy savings and emissions reductions. The study concludes that selective implementation of cost-effective measures, supported by public grants, can achieve energy targets, improve indoor environments, and serve as a replicable model of targeted retrofits across the region, though reliance on external funding and high upfront costs pose challenges. Full article

This study investigates the mechanisms by which green finance mitigates non-point source pollution. Based on provincial panel data from China spanning 2005 to 2023, this study conducts an empirical analysis that yields several key findings: (1) The development of green finance significantly reduces the intensity of agricultural non-point source pollution. (2) Green finance indirectly contributes to pollution reduction by incentivizing farmers to adopt environmentally sustainable production practices. (3) The pollution control effects of green finance are amplified in regions with advanced digital infrastructure. (4) The impact of green finance on agricultural pollution demonstrates a threshold effect associated with regional innovation capacity—only when innovation capability exceeds a certain threshold does the emission reduction effect of green finance become evident. Theoretically, this study broadens the research dimensions of green finance by integrating farmer behavioral factors and revealing boundary conditions related to technology and innovation. Policy implications include the need to tailor green financial products for agriculture, accelerate the development of rural digital infrastructure, and implement innovation-driven differentiated policies to enhance precision. Full article

Green hydrogen, produced via renewable-powered electrolysis, offers a promising path toward deep decarbonisation in energy systems. This study investigates the major technological, infrastructural, and economic challenges facing green hydrogen production in Jordan—a resource-constrained yet renewable-rich country. Key barriers were identified through a structured survey of 52 national stakeholders, including water scarcity, low electrolysis efficiency, limited grid compatibility, and underdeveloped transport infrastructure. Respondents emphasised that overcoming these challenges requires investment in smart grid technologies, seawater desalination, advanced electrolysers, and policy instruments such as subsidies and public–private partnerships. These findings are consistent with global assessments, which recognise similar structural and financial obstacles in scaling up green hydrogen across emerging economies. Despite the constraints, over 50% of surveyed stakeholders expressed optimism about Jordan’s potential to develop a competitive green hydrogen sector, especially for industrial and power generation uses. This paper provides empirical, context-specific insights into the conditions required to scale green hydrogen in developing economies. It proposes an integrated roadmap focusing on infrastructure modernisation, targeted financial mechanisms, and enabling policy frameworks. Full article

The integration of financial technology expenditures and green total factor productivity (GTFP) constitutes a critical impetus for sustainable economic advancement. This study employs provincial panel data from China (2012–2020) and uses the SBM model with undesirable outputs, the PVAR model, moderation effect analysis, and threshold regression to investigate the underlying mechanisms and threshold effects of financial technology expenditure on GTFP. The results show that (1) financial technology expenditure has a significant promoting effect on the growth of GTFP, with a coefficient of 0.614 (p < 0.05), indicating the need for further increases in fiscal investment in science and technology; (2) the effect of financial technology expenditure on GTFP varies across the eastern, central, and western regions of China, with stronger effects observed in the eastern region, suggesting that the government should formulate differentiated financial technology expenditure policies on the basis of local conditions; and (3) that educational investment and industrial upgrading play strong moderating roles in the impact of financial technology expenditure on GTFP, with interaction term coefficients of 0.059 (p < 0.05) and 0.206 (p < 0.1), respectively. Threshold analysis further reveals that the positive effect strengthens significantly once educational investment surpasses a log value of 9.3674 and industrial upgrading exceeds a ratio of 0.0814. However, currently, China’s education investment and industrial structure upgrading are still insufficient, necessitating further increases in education investment and promoting the transformation and upgrading of the industrial structure. Full article

This study examines how U.S. immigration policies enact legal violence and multigenerational punishment through the spousal reunification process, particularly in mixed-status, transnational families. Building on the concept of “deportability,” we introduce “importability” to describe a beneficiary’s potential to secure permanent residency, which varies according to social markers such as race, gender, and region of origin. Drawing from a content analysis of threads on the Immigration Pathways (IP) web forum, we analyze discussions among U.S. citizen petitioners navigating marriage-based green card applications, with a focus on experiences involving administrative processing (AP) (i.e., marriage fraud investigations). Our findings show that couples who do not align with the state’s conception of “proper” family—particularly U.S. citizen women petitioning for Black African partners—face intensified scrutiny, long delays, and burdensome requirements, including DNA tests and surveillance. These bureaucratic obstacles produce prolonged family separation, financial strain, and diminished sense of belonging, especially for children in single-parent households. Through the lens of “importability,” we reveal how legal violence and multigenerational punishment of immigration policies on mixed-status families beyond deportation threats, functioning as a gatekeeping mechanism that disproportionately affects marginalized families. This research highlights the understudied consequences of immigration policies on citizen petitioners and contributes to a broader understanding of inequality in U.S. immigration enforcement. Full article

The coupled development of economic and ecological systems is crucial for achieving sustainable growth, with the financial system playing a pivotal adaptive role. Green financial innovation (GFI) is central to enhancing this adaptation. Urban land use eco-efficiency (ULUEE) serves as an effective measure of economic–ecological coupling. Using China’s Green Finance Reform and Innovation Pilot Zones (GFRPZs) as a quasi-natural experiment, this study assesses the impact of GFI on ULUEE, employing panel data from 283 prefecture-level cities (2013–2021). The results show that GFI significantly enhances ULUEE through technological spillovers, strengthened environmental regulation, industrial upgrading, and resource agglomeration. Heterogeneity analyses further reveal that GFI’s positive effects are more pronounced in economically developed regions, cities without legacy heavy-industry reliance, and those with deeper financial development. Additionally, GFI demonstrates cross-regional spillover effects, effectively interacting with other environmental policies. While GFI’s impact is more pronounced in economic growth, its ecological governance improvements are modest. This study provides critical insights for tailored green financial policies aimed at harmonizing economic and ecological objectives. Full article

This study conducts a comprehensive bibliometric analysis and predictive modeling of financial risk research from 2015 to 2024, integrating conceptual, knowledge, and collaboration perspectives. Utilizing the PRISMA framework for literature screening, the study identifies publications, research areas, and research institutions. A co-citation network approach reveals the intellectual structure and milestone works, while emergent keyword detection highlights cutting-edge topics such as economic policy uncertainty, climate risk, and green innovation. Furthermore, the study proposes a novel semantic forecasting model, SEF-ACLSTM (Semantic Evolution Forecasting with Aligned Clustered LSTM), to predict the evolution of research themes through 2030. The results identify three major thematic clusters: methodological innovation, traditional risk management, and green finance. The predictive analysis indicates a growing emphasis on methodological and sustainability-oriented topics, suggesting a paradigmatic shift in financial risk research. The findings offer theoretical insights and strategic guidance for future academic inquiry and policy formulation. Full article