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Top-down versus bottom-up: How green finance drives sustainable development in cold chain logistics?

Author

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  • Yuan, Beifei
  • Tao, Fengming
  • Guo, Zhaokun
  • Ren, Jiaqi
  • Zhu, Ziwei
  • Zhou, Chuhan

Abstract

The rapid advancement of cold chain logistics has underscored the importance of sustainability, positioning green finance as a crucial catalyst for its sustainable development, a theme extensively discussed among scholars and policymakers. However, empirical examinations into the specific impacts of green finance on this sector remain limited. This study utilizes panel data from 30 provinces in China (2010–2022) to analyze the effects of green finance on the sustainable development of cold chain logistics and the underlying mechanisms involved. The findings reveal that (1) The sustainable development of cold chain logistics in China has progressively improved over the years, albeit with notable disparities persisting across provinces. Moreover, green finance plays a crucial role in advancing the sustainability of cold chain logistics. (2) It further promotes this sustainability by fostering green technological innovation. Public environmental awareness exerts a positive moderating effect on the impact of green finance, while governmental environmental regulations have not achieved the expected outcomes. (3) The positive impact of green finance on the sustainable development of cold chain logistics is particularly pronounced in the eastern region and areas exhibiting higher economic development, highlighting significant regional heterogeneity. These insights provide innovative strategies for achieving sustainable development in cold chain logistics in China and provide critical perspectives for other nations pursuing similar sustainability objectives.

Suggested Citation

  • Yuan, Beifei & Tao, Fengming & Guo, Zhaokun & Ren, Jiaqi & Zhu, Ziwei & Zhou, Chuhan, 2025. "Top-down versus bottom-up: How green finance drives sustainable development in cold chain logistics?," Transport Policy, Elsevier, vol. 173(C).
    • Handle: RePEc:eee:trapol:v:173:y:2025:i:c:s0967070x25002835
    DOI: 10.1016/j.tranpol.2025.07.030
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