| Title | The impact of carbon finance on energy consumption structure: evidence from China |
|---|---|
| ID_Doc | 33052 |
| Authors | Geng, LM; Hu, JY; Shen, WX |
| Title | The impact of carbon finance on energy consumption structure: evidence from China |
| Year | 2023 |
| Published | Environmental Science And Pollution Research, 30.0, 11 |
| Abstract | As a financial innovation model to promote sustainable economic development, carbon finance promotes green and inclusive economic development by reshaping the financial system. As a big energy consumer, China has been committed to the green transformation of energy structure, and carbon finance has been regarded as an important tool to support carbon emission reduction. This paper divides carbon finance from three levels, financial macro, environmental governance, and technological development, and selects 17 indexes to measure the development level of carbon finance in China. Time series regression model and the entropy weight method (EWM) are used to analyze the impact of carbon finance on China's energy consumption structure. The empirical results show that carbon finance plays a positive role in promoting China's energy consumption structure, and developing carbon finance is conducive to the use of clean energy and the optimization of energy consumption structure in China; carbon finance can further optimize China's energy consumption structure by investing capital, resources, and technology in industries related to promoting clean energy consumption. Therefore, China should continue to develop carbon finance and promote the establishment of a unified national carbon trading market; at the same time, China should use the CCER trading mechanism to promote the development of renewable energy and enhance the endogenous driving force of energy transformation by promoting technological progress. |
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