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Research on the accelerating effect of green finance on the transformation of energy consumption in China

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  • Liu, Qingrui
  • Tang, Lu

Abstract

In the face of global climate change, accelerating the transformation of energy consumption is key. This paper constructs intermediary effect and threshold effect models to empirically test the impact mechanism of urbanization on energy consumption transformation. The results show that an increase in the urbanization rate can reduce energy consumption. The development of green finance helps improve the traditional energy consumption structure dominated by fossil energy consumption through the intermediary effect. When the urbanization rate enters the high threshold range, the negative impact of green financial development on fossil energy is significantly enhanced. The research conclusion shows that with continuous improvement in the urbanization rate, the development of green finance can accelerate the transformation of traditional energy consumption, which is conducive to the realization of the goals of “reaching carbon peak by 2030 and carbon neutrality by 2060″ proposed by the Chinese government.

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  • Liu, Qingrui & Tang, Lu, 2022. "Research on the accelerating effect of green finance on the transformation of energy consumption in China," Research in International Business and Finance, Elsevier, vol. 63(C).
    • Handle: RePEc:eee:riibaf:v:63:y:2022:i:c:s027553192200157x
    DOI: 10.1016/j.ribaf.2022.101771
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    2. Qin, Meng & Zhang, Xiaojing & Li, Yameng & Badarcea, Roxana Maria, 2023. "Blockchain market and green finance: The enablers of carbon neutrality in China," Energy Economics, Elsevier, vol. 118(C).
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    5. Umar, Zaghum & Hadhri, Sinda & Abakah, Emmanuel Joel Aikins & Usman, Muhammad & Umar, Muhammad, 2024. "Return and volatility spillovers among oil price shocks and international green bond markets," Research in International Business and Finance, Elsevier, vol. 69(C).
    6. Dong, Xiaotian & Wang, Kai-Hua & Tao, Ran & Sorana, Vătavu & Moldovan, Nicoleta-Claudia, 2024. "Is there a relationship between climate policy uncertainty and green finance? Evidence from bootstrap rolling window test," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 277-289.
    7. Wenqing Zhang & Jingrong Dong, 2023. "The Polarization Effect and Mechanism of China’s Green Finance Policy on Green Technology Innovation," Sustainability, MDPI, vol. 15(13), pages 1-26, June.
    8. Ha, Le Thanh & Bouteska, Ahmed & Sharif, Taimur & Abedin, Mohammad Zoynul, 2024. "Dynamic interlinkages between carbon risk and volatility of green and renewable energy: A TVP-VAR analysis," Research in International Business and Finance, Elsevier, vol. 69(C).
    9. Lee, Chien-Chiang & Wang, Chang-song & He, Zhiwen & Xing, Wen-wu & Wang, Keying, 2023. "How does green finance affect energy efficiency? The role of green technology innovation and energy structure," Renewable Energy, Elsevier, vol. 219(P1).
    10. La Torre, Mario & Leo, Sabrina & Palma, Alessia & Zapata, Jenny Daniela Salazar, 2024. "Public spending and green finance: A systematic literature review," Research in International Business and Finance, Elsevier, vol. 68(C).
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