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Volume 6, 2025 - Issue 3

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Impact of Green Finance Policies on Carbon Emissions in the Energy Economy

by Yifei Liu 1,*
1
Commercial College, Shandong Normal University, Shandong province, China
*
Author to whom correspondence should be addressed.
JIEM  2025 6(3):114; https://doi.org/10.69610/j.jiem.202506302
Received: / Accepted: / Published Online: 30 June 2025
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Abstract

Against the background of high carbon emissions from global energy consumption, this study applies double difference modeling (DID) to assess the carbon emission reduction effect of the 2017 green finance reform and innovation pilot zone policy based on panel data from 30 Chinese provinces from 2003 to 2021. The results show that the green finance pilot policy significantly suppresses the carbon emission intensity of energy consumption in the pilot provinces, and the marginal downward trend of carbon emission intensity increases over time after the implementation of the policy. Mechanistically, the policy promotes the decarbonization of the energy consumption structure through the resource allocation effect of guiding the flow of funds to green industries and restricting the financing of high-carbon projects, as well as the cost reduction effect of incentivizing the innovation of financial instruments such as green bonds. Regional heterogeneity shows that the policy emission reduction effect is more significant in the central and western regions due to the urgent need for industrial transformation, while the effect is limited in the eastern region by the lock-in effect of low-carbon technology paths. Robustness tests confirm the reliability of the findings. The study suggests expanding the policy coverage, establishing a dynamic evaluation system, and strengthening the synergy between green finance and industrial policies to enhance the effectiveness of carbon emission reduction.

Keywords: Green Finance; Carbon Intensity; Double Difference Model; Regional Heterogeneity;
Copyright: © 2025 by Liu. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Liu, Y. Impact of Green Finance Policies on Carbon Emissions in the Energy Economy. Journal of Innovations in Economics & Management, 2025, 6, 114. doi:10.69610/j.jiem.202506302
AMA Style
Liu Y.. Impact of Green Finance Policies on Carbon Emissions in the Energy Economy. Journal of Innovations in Economics & Management; 2025, 6(3):114. doi:10.69610/j.jiem.202506302
Chicago/Turabian Style
Liu, Yifei 2025. "Impact of Green Finance Policies on Carbon Emissions in the Energy Economy" Journal of Innovations in Economics & Management 6, no.3:114. doi:10.69610/j.jiem.202506302

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