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Green Finance Beyond Policy: Fostering Financial Transition for Net-Zero Carbon Goals 2060 of China

In: GREEN FINANCE AND ENERGY TRANSITION IN ASEAN

Author

Listed:
  • Sajid Iqbal

Abstract

China is actively limiting the growth of fossil fuel consumption and reducing coal energy subsidies to transform its energy systems and promote a sustainable oil supply chain. This research examines how green finance can be used to limit fossil fuel consumption and coal subsidies in order to help China achieve its 2060 carbon neutrality goal, in line with the objectives of COP28. The study develops a research framework concerning the Chinese provincial classification of high and low utilization of fossil fuels. Provinces using high fossil fuel are called the first scenario, and other provinces are called the second scenario. To develop the scenario. The study first applied the quantile clustering technique. Based on the findings in this paper, green finance limits the expansion of fossil fuels in high fossil-utilizing provinces while mobilizing sustainable supply chains in low fossil-utilizing provinces. The study findings uncovered that the financial transition of green finance and subsidized financing is needed significantly in China. Furthermore, the financial transition of green finance plays a significant role in fossil-fuel energy transition and net-zero carbon emission. Accordingly, the study also provided various policies for the policymakers.

Suggested Citation

  • Sajid Iqbal, 2026. "Green Finance Beyond Policy: Fostering Financial Transition for Net-Zero Carbon Goals 2060 of China," World Scientific Book Chapters, in: Phoumin Han & Farhad Taghizadeh-Hesary & Fukunari Kimura & Rabindra Nepal (ed.), GREEN FINANCE AND ENERGY TRANSITION IN ASEAN, chapter 10, pages 297-328, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789819815708_0010
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    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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