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Evaluating the Factors of Green Finance to Achieve Carbon Peak and Carbon Neutrality Targets in China: A Delphi and Fuzzy AHP Approach

Author

Listed:
  • Chaofeng Li

    (School of Management, South-Central Minzu University, Wuhan 430074, China)

  • Yasir Ahmed Solangi

    (College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing 211106, China
    School of Management, Jiangsu University, Zhenjiang 212013, China)

  • Sharafat Ali

    (Department of Economics, Government Graduate College Kot Sultan, Kot Sultan 31650, Pakistan
    Department of Economics, University of Layyah, Layyah 31200, Pakistan)

Abstract

Green finance (GF) is a vital strategy implemented by China to minimize carbon emissions to achieve targets of carbon peak and carbon neutrality. Thus, the objective of this study is to reduce carbon emissions by developing green finance practices in China. This study identifies, evaluates, and ranks the factors and sub-factors of green finance because it is the core issue for sustainable development. In this regard, this study utilizes the Delphi and fuzzy Analytical Hierarchy Process (FAHP) method to analyze the main factors and sub-factors of green finance. The Delphi method finalizes the 6 factors and 26 sub-factors after a thorough investigation. The FAHP method was used to assess and rank the identified factors and sub-factors of green finance. The findings show that the political (POF) is the most crucial factor of green finance in the Chinese economy. The economic (ECF) and environmental (ENF) factors are ranked second and third important factors. The further results of the FAHP reveal that ecological and political identification (POF1), political stability (POF3), and climate commitments (POF2) are the top-ranked sub-factors of green finance. The results specify that green finance development is a very crucial strategy to minimize carbon emissions.

Suggested Citation

  • Chaofeng Li & Yasir Ahmed Solangi & Sharafat Ali, 2023. "Evaluating the Factors of Green Finance to Achieve Carbon Peak and Carbon Neutrality Targets in China: A Delphi and Fuzzy AHP Approach," Sustainability, MDPI, vol. 15(3), pages 1-21, February.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:3:p:2721-:d:1056014
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    Cited by:

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    2. Konstantinos I. Roumeliotis & Nikolaos D. Tselikas & Dimitrios K. Nasiopoulos, 2023. "Unveiling Sustainability in Ecommerce: GPT-Powered Software for Identifying Sustainable Product Features," Sustainability, MDPI, vol. 15(15), pages 1-26, August.
    3. Jiang, Yihuo & Ni, Hongliang & Ni, Yihan & Guo, Xiaomei, 2023. "Assessing environmental, social, and governance performance and natural resource management policies in China's dual carbon era for a green economy," Resources Policy, Elsevier, vol. 85(PB).
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    5. Nan Nan & Gang He & Yasir Ahmed Solangi & Sharafat Ali, 2023. "Comparative Analysis of the Impact of Policy Uncertainty, Agricultural Output, and Renewable Energy on Environmental Sustainability," Sustainability, MDPI, vol. 15(11), pages 1-17, May.
    6. Yan Dai & Yasir Ahmed Solangi, 2023. "Evaluating and Prioritizing the Green Infrastructure Finance Risks for Sustainable Development in China," Sustainability, MDPI, vol. 15(9), pages 1-18, April.
    7. Feifei Jiang & Fu Chen & Yan Sun & Ziyi Hua & Xinhua Zhu & Jing Ma, 2023. "Spatiotemporal Pattern and Driving Mechanism of Cultivated Land Use Transition in China," Land, MDPI, vol. 12(10), pages 1-20, September.
    8. Yuanyuan Li & Yindan Zhang & Yasir Ahmed Solangi, 2023. "Assessing ESG Factors and Policies of Green Finance Investment Decisions for Sustainable Development in China Using the Fuzzy AHP and Fuzzy DEMATEL," Sustainability, MDPI, vol. 15(21), pages 1-23, October.

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