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Policy and market mechanisms for promoting sustainable energy transition: role of government and private sector

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  • Tingting Song

    (Changchun University of Finance and Economics)

  • Hongyue Li

    (Jilin University)

  • Ziyang Feng

    (Jilin University)

Abstract

This study looks at China’s supportive market and regulatory frameworks for a sustainable energy transition. It examines how public and commercial sectors help shift to cleaner, more sustainable energy. We use both methods to evaluate the effectiveness of policies, legislation, and incentives in boosting green energy adoption. This inquiry also examines how governments and businesses collaborate to meet China’s ambitious energy transformation objectives. Climate change and China’s air pollution need a shift away from coal-based energy generation. The historical study shows two policy mix temporal variations: rules and instruments configurations and regulatory intensity and concentration. The strategy combination has moved from authority-based instrumentation to the current response, resulting in a lot of instrumentation and several device kinds. The Chinese government is experimenting with new rules to minimize carbon dioxide emissions while enforcing air pollution reduction and renewable energy assistance initiatives. This study explores the complicated relationship between policy frameworks and market dynamics to understand better how government-crafted strategic plans may align with market processes and capitalize on private-sector innovation and investment. Through case studies and theoretical models, it outlines each industry’s mutually beneficial role in supporting sustainable energy. New legislative tools, calibrated ones, and policies that replace and sequence all evolutionary traits are needed. The study shows that China has used a complex set of regulatory mechanisms to reduce coal-based power sector pollution and encourage renewable energy technology.

Suggested Citation

  • Tingting Song & Hongyue Li & Ziyang Feng, 2024. "Policy and market mechanisms for promoting sustainable energy transition: role of government and private sector," Economic Change and Restructuring, Springer, vol. 57(4), pages 1-30, August.
    • Handle: RePEc:kap:ecopln:v:57:y:2024:i:4:d:10.1007_s10644-024-09734-6
    DOI: 10.1007/s10644-024-09734-6
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    References listed on IDEAS

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    1. Wang, Weiwei & Gao, Pengpeng & Wang, Jiahaoran, 2023. "Nexus among digital inclusive finance and carbon neutrality: Evidence from company-level panel data analysis," Resources Policy, Elsevier, vol. 80(C).
    2. Lee, Chien-Chiang & Wang, Fuhao & Chang, Yu-Fang, 2023. "Does green finance promote renewable energy? Evidence from China," Resources Policy, Elsevier, vol. 82(C).
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