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Does green finance development goals affects renewable energy in China

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  • Li, ChangZheng
  • Umair, Muhammad

Abstract

for reducing GHG emissions and the challenges of climate change, such as “green finance”, have emerged as an approach that combines financial services and products that confront a wider range of sustainability issues, such as commercial pollution reduction, environmental management, improved sanitation, and environmental conservation. Therefore, our study aimed to investigate how green financing and renewable energy sources in China contribute to sustainable development. This study employs a unique methodology called panel cointegration and causality modelling to analyse the factors that led to the growth of renewable energy in China between 2005 and 2020. The results demonstrate the value of green finance development and private sector participation in localised and worldwide growth. Trademark registrations will increase by 0.487% and financial development filings by 0.144% for every 1% increase in renewable energy sources. When private sector participation is enhanced by 0.032%, trademarks and patents increase by 0.057%. Investment, trade, and human development calm these relationships. Several robustness tests support our findings. The study's empirical evidence, policymakers and environmentalists now have helpful knowledge for creating and implementing environmental projects with long-term financial advantages.

Suggested Citation

  • Li, ChangZheng & Umair, Muhammad, 2023. "Does green finance development goals affects renewable energy in China," Renewable Energy, Elsevier, vol. 203(C), pages 898-905.
    • Handle: RePEc:eee:renene:v:203:y:2023:i:c:p:898-905
    DOI: 10.1016/j.renene.2022.12.066
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