Study on high energy-consuming industrial agglomeration, green finance, and carbon emission

Scientometric investigations on dual carbon research: Revealing advancements, key areas, and future outlook

The dual carbon goal is a systematic project involving the entire society and has a leading and systematic role in the green and low-carbon development of China. In this study, we used the CiteSpace software to visualize and analyze 5809 documents from the core database of Web of Science from 1995 to 2023, covering four aspects: descriptive statistics, network collaboration, research hotspots, and thematic evolution analysis. The number of studies in the field of dual carbon is in an explosive growth stage and China and the Chinese Academy of Sciences have become the core country and institution for research, respectively, in this field. Major high-impact journals include Cleaner Production, Energy, Renewable and Sustainable Energy Review, Applied Energy, and Energy Policy. Relevant research has mainly focused on carbon neutralization, CO2 emissions, impact factors, energy, and emission reduction performance. Research hotspots primarily include carbon dioxide electrocatalytic reduction technology, sustainable energy transition strategies, and green financial policy tools. The government should further support for the research and development of carbon-neutral technologies, particularly for the industrialization and application of CO2 electrocatalytic reduction technology. Meanwhile, investment in renewable energy should be increased to optimize the energy structure and promote energy transition. In addition, green financial policy tools must be improved to promote the healthy development of the green financial market. The transparency and efficiency of the carbon trading market can be improved using digital technology and big data analysis, thus promoting the deep integration of the digital economy, with the goal of carbon neutrality.

The impact of green financial policies on carbon emission efficiency: empirical evidence from China

In the crucial phase of high-quality economic growth, green finance is essential for directing capital to green industries and optimizing the quality of economic growth. Academics in China have paid a great deal of attention to green finance because it is a crucial government policy for advancing the development of an ecological civilization. This document examines the Chinese State Council's implementation of the Guidance on Building a Green Financial System as a quasi-natural experiment. It determines, using the double difference method and panel data from 283 prefecture-level cities in China between 2011 and 2020, if green financial reform policies can enhance carbon emission efficiency and its mechanisms. The study reveals that green finance reform policies considerably improve the carbon efficiency of cities, albeit with a significant time lag and an annual increase in net effect. In addition, the mechanism analysis revealed that green financial policies primarily improve carbon emission efficiency by decreasing the intensity of energy consumption, enhancing technological innovation, and optimizing industrial structure. Therefore, expanding the size of the reform pilot zone and increasing incentives and guidance for green financial institutions will aid the transition of cities to a low-carbon economy.

Green financial development efficiency: a catalyst for driving China's green transformation agenda towards sustainable development

The pursuit of a green transformation agenda in China is an important aspect of achieving sustainable development. The role played by green financial development efficiency (GFDE) in this pursuit cannot be overlooked. This paper explored the impact of GFDE on China's green transformation agenda and its contributions toward sustainable development. The study adopts a systematic approach to examine the relationship between GFDE and green transformation, utilizing relevant data and literature. The study aligns with previous research in the field that highlights the importance of green finance in reducing carbon emissions and promoting sustainable development in China. It also adds to the existing literature by specifically focusing on the role of green financial development efficiency in the pursuit of a green transformation agenda in China. The study found a significant improvement in GFDE over the period of 2010 to 2020 in promoting green transformation in China. Both systems generalized method of moments and fixed-effect models revealed that trade openness, foreign investments, technological innovation, and government budget positively influenced GFDE while energy consumption and economic policy uncertainty had a significant adverse effect on GFDE. The results of this study inform policymakers and stakeholders of the importance of green finance in promoting sustainable development. The study intimated that the financial sector should provide support for green technologies and businesses by offering range of green products such as green bonds, funds, and loans.

Identifying impacts of industrial co-agglomeration on carbon emissions: Evidence from China

Based on panel data of 285 cities in China at the prefecture level and above from 2005 to 2020, this paper aims to study the nexus between industrial co-agglomeration and carbon emissions from dual perspectives including space and time. It adopts multiple approaches including a dynamic general method of moment, panel quantile regression model, panel threshold model, and dynamic spatial Durbin model. The non-spatial empirical results support the establishment of the threshold effect and the imbalance effect. The spatial empirical results indicate that industrial co-agglomeration poses a dramatic stimulating effect on urban carbon emissions, and its spatial spillover effect and spatial heterogeneity are conditionally established. Furthermore, heterogeneous effects are supported, such as the positive spillover effects of industrial co-agglomeration are more significant in western cities, resource-oriented cities, and non-low-carbon pilot cities. The heterogeneous influence of cost factors on industrial agglomeration and carbon emissions has also been partially confirmed. In terms of the channels and mechanism of action, the negative externalities of industrial co-agglomeration occupy a dominant position in the current status of economic development. The dynamic equilibrium between government intervention and marketization is a solid foundation for the optimization of carbon emission reduction paths.