Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in China
Abstract Green finance plays a pivotal role in advancing sustainable urban development by enhancing energy efficiency and supporting low-carbon transitions. This study empirically demonstrates that green finance maturity (GFM), which reflects the development and effectiveness of green financial syst...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
SpringerOpen
2024-12-01
|
| Series: | Energy Informatics |
| Subjects: | |
| Online Access: | https://doi.org/10.1186/s42162-024-00455-8 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1841559043666083840 |
|---|---|
| author | Jiaomei Tang Kuiyou Huang |
| author_facet | Jiaomei Tang Kuiyou Huang |
| author_sort | Jiaomei Tang |
| collection | DOAJ |
| description | Abstract Green finance plays a pivotal role in advancing sustainable urban development by enhancing energy efficiency and supporting low-carbon transitions. This study empirically demonstrates that green finance maturity (GFM), which reflects the development and effectiveness of green financial systems, has a significant positive impact on urban energy efficiency (UEE). Using panel data from Chinese prefecture-level cities spanning 2006 to 2021, the analysis shows that a one-unit increase in GFM improves UEE by 0.221 standard deviations. Mechanism analysis reveals that this effect is primarily mediated through technological advancements and improvements in innovation capacity. Further heterogeneity analysis highlights that GFM’s impact is more pronounced in non-resource-based cities and in regions characterized by advanced financial systems, greater global market integration, and higher levels of urbanization. These findings offer valuable, context-specific insights for policymakers seeking to leverage green finance maturity as a tool to promote sustainable urban development across diverse socio-economic and institutional settings. |
| format | Article |
| id | doaj-art-14e1a08bbc3840cc9e811c32fd272e4c |
| institution | Kabale University |
| issn | 2520-8942 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Energy Informatics |
| spelling | doaj-art-14e1a08bbc3840cc9e811c32fd272e4c2025-01-05T12:48:04ZengSpringerOpenEnergy Informatics2520-89422024-12-017112410.1186/s42162-024-00455-8Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in ChinaJiaomei Tang0Kuiyou Huang1School of Economics and Management, Jiaying UniversitySchool of Economics and Management, Jiaying UniversityAbstract Green finance plays a pivotal role in advancing sustainable urban development by enhancing energy efficiency and supporting low-carbon transitions. This study empirically demonstrates that green finance maturity (GFM), which reflects the development and effectiveness of green financial systems, has a significant positive impact on urban energy efficiency (UEE). Using panel data from Chinese prefecture-level cities spanning 2006 to 2021, the analysis shows that a one-unit increase in GFM improves UEE by 0.221 standard deviations. Mechanism analysis reveals that this effect is primarily mediated through technological advancements and improvements in innovation capacity. Further heterogeneity analysis highlights that GFM’s impact is more pronounced in non-resource-based cities and in regions characterized by advanced financial systems, greater global market integration, and higher levels of urbanization. These findings offer valuable, context-specific insights for policymakers seeking to leverage green finance maturity as a tool to promote sustainable urban development across diverse socio-economic and institutional settings.https://doi.org/10.1186/s42162-024-00455-8Green finance maturityUrban energy efficiencyTechnology progressInnovation performance |
| spellingShingle | Jiaomei Tang Kuiyou Huang Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in China Energy Informatics Green finance maturity Urban energy efficiency Technology progress Innovation performance |
| title | Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in China |
| title_full | Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in China |
| title_fullStr | Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in China |
| title_full_unstemmed | Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in China |
| title_short | Eco-cities of tomorrow: how green finance fuels urban energy efficiency—insights from prefecture-level cities in China |
| title_sort | eco cities of tomorrow how green finance fuels urban energy efficiency insights from prefecture level cities in china |
| topic | Green finance maturity Urban energy efficiency Technology progress Innovation performance |
| url | https://doi.org/10.1186/s42162-024-00455-8 |
| work_keys_str_mv | AT jiaomeitang ecocitiesoftomorrowhowgreenfinancefuelsurbanenergyefficiencyinsightsfromprefecturelevelcitiesinchina AT kuiyouhuang ecocitiesoftomorrowhowgreenfinancefuelsurbanenergyefficiencyinsightsfromprefecturelevelcitiesinchina |