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Green finance (GF) has emerged as a promising tool to promote low-carbon development, while knowledge is rather limited regarding the underlying mechanism. This article aims to address this void by constructing a city-level GF index covering seven dimensions and identifying the main pathways through which GF can facilitate the low-carbon development of cities. Using a balanced panel data covering 277 Chinese cities from 2010 to 2020, the results show that: (1) China's GF development exhibits an overall spatial differentiation of 'high in the east and low in the west', while the distribution of carbon intensity (CI) displays an overall spatial differentiation of 'high in the north and low in the south'; (2) GF significantly decreases CI of cities, which is robust to employing DID strategies and IV estimations; (3) The role of GF on CI varies with the level of CI whereas not with the level of GF. Specifically, the mitigating effect of GF on CI is significant in both high GF and low GF groups, but only in high CI group; and (4) GF promotes low-carbon transition of cities through mainly on adjusting industrial structure rather than stimulating technological innovation. Despite we also demonstrate green finance enhances green innovation, due to multi-factors, such technology progress it brings may not always translate into a tangible improvement in green productivity. For most developing countries including China, the future policy objective of green finance should focus on enhancing sustainable technological progress. [ABSTRACT FROM AUTHOR]

The green credit policy (GCP) is an institutional framework aimed at guiding enterprises towards green transformation and promoting high-quality development, which serves as a crucial tool for supporting the establishment of a green technology innovation system. In this study, utilizing the green credit guidelines as a quasi-natural experiment and constructed a continuous difference-in-difference (DID) model, examines the impact of GCP impact on enterprise green innovation and its internal mechanisms by analyzing data from Chinese A-share listed companies between 2006 and 2021. Our findings indicate that the GCP had a significant impact on enterprise green innovation, inhibiting companies from independently developing green innovation while promoting joint green innovation with other institutions; These results were robust and consistent, even after conducting several sensitivity analyses; This mechanism indicate that the commercial credit plays an important regulatory role in the process of GCP affecting green innovation of enterprises and the financing constraints act as an intermediary factor in the process of GCP affecting green innovation. Based on our research, we offer policy recommendations aimed at improving the GCP and fostering a market-oriented green technology innovation system. [ABSTRACT FROM AUTHOR]

Low-carbon pilot city (LCPC) plays a pivotal role in stimulating green innovation among enterprises. However, relying solely on policy often proves less effective, necessitating support from financial development. Yet, current research frequently overlooks the impact of financial development on LCPC policy. Drawing on economic, management, and organizational psychology theories, we investigate the influence of the financial development level on enterprise green innovation in LCPC, utilizing data from listed companies between 2010 and 2018. The main finding is that LCPC facilitates institutional-level green innovation. Concurrently, financial development augments the effectiveness of LCPC policy, further expediting green innovation activities among enterprises in these pilot cities. Heterogeneity analyses reveal that financial development significantly promotes green innovation, particularly among state-owned enterprises, those with myopic management, non-high technology industries, and businesses in the southern region within LCPC. Mechanism tests identify enterprises' financing constraints and R&D investment levels as key pathways through which financial development fosters green economic development in LCPC. This study provides micro-level evidence from China elucidating the effects of environmental policies and offers practical implications for the low-carbon transformation of the manufacturing sector amid peak emissions and carbon-neutral targets. Additionally, it provides valuable guidance for other emerging economies seeking enhanced resource and environmental protection through the implementation of energy-saving and emission-reduction fiscal policy. [ABSTRACT FROM AUTHOR]

The long-standing, unrestrained utilization of energy resources by China's manufacturing sector has created irreversible obstacles to regional sustainable development. Consequently, the Chinese government has implemented a water resource tax policy in certain regions, with the aim of compelling manufacturing enterprises to adopt green and energy-saving innovations. This study used panel data from Chinese manufacturing companies listed on the A-share market from 2009 to 2020 and employed a double machine learning model to explore whether the water resource fee-to-tax reform can compel enterprises to enhance their tripartite green energy-saving innovation drive. These innovations consist of vision-driven and mission-driven green energy-saving technological innovations and green management energy-saving innovations. Following a quasi-natural experiment, our findings revealed the following: (1) The water resource fee-to-tax policy promoted the internal coupling coordination of the triple-driven system. (2) The policy compelled progress in mission-driven green energy-saving technological innovations and green energy-saving management innovations but hindered vision-driven green energy-saving technological innovations. (3) Within the internal systems of manufacturing enterprises, green energy-saving management innovations play a positive mediating role between the water resource fee-to-tax policy and the mission-driven green energy-saving technology innovation subsystem, but they lack a similar positive mediating mechanism for the vision-driven green energy-saving technology innovation subsystem. (4) The counterfactual framework verified that the mechanistic pathway "water resource fee-to-tax → green energy-saving management innovation → mission-driven/vision-driven green energy-saving technological innovation" could be further extended to other manufacturing enterprises not currently under policy compulsion. (5) In the interaction system between manufacturing enterprises and external markets, the development of marketization and financial technology positively regulated the promoting effect of the water resource fee-to-tax policy on mission-driven green energy-saving technological innovations and green energy-saving management innovations, but it did not have a similar effect on vision-driven green energy-saving technological innovations. [ABSTRACT FROM AUTHOR]

Employing the "Green Credit Guidelines" implemented in 2012 as the basis for a quasi-natural experiment, this study applies the method of Difference-in-Differences(DID) to investigate the influence of the Green Credit Policy on both the quantity and quality of enterprise innovation. The outcomes of our analysis reveal that the policy has significantly boosted both the quantity and quality of innovation among enterprises identified as heavy polluters. It is noteworthy that the policy's positive impact on innovation quantity surpasses its positive effect on innovation quality. This substantiates that the Green Credit Policy effectively generates incentivizing outcomes for innovation among the heavy polluters, thereby verifying Porter's hypothesis within the domain of green credit in China. Furthermore, we find that the positive impact is more significant for enterprises with lower innovation capabilities, large-scale enterprises, state-owned enterprises, and those situated in both the Eastern and Western regions. Through these findings, this study illuminates a novel perspective on the interplay between the Green Credit Policy and enterprise innovation dynamics in China. [ABSTRACT FROM AUTHOR]

The development of urbanization has brought new challenges to the ecological environment, and the promotion of green technology innovation and development is widely recognized as an essential method to achieve cities' economic benefits and environmental protection. This paper examines whether the new urbanization pilot policies (NUP) increase green technology innovation (GTI) from both theoretical and empirical perspectives. This paper examines the impact of new urbanization on GTI by analyzing data from 285 cities in China between 2010 and 2021, using the multi-period DID model with the implementation of NUP as an exogenous policy shock. The study results indicate that NUP significantly affects GTI, and the conclusion still holds after the parallel trend test, placebo test, and other robustness tests. Heterogeneity analysis shows that the NUP significantly enhances GTI in low environmental pollution, non-resource-based, Medium-sized, and Central Region cities. The test of moderating effect shows that NUP has a "linkage effect" with the government's environmental attention, financial investment in innovation, and regional talent pooling. The findings of this paper provide empirical evidence and decision-making reference for promoting NUP and sustainable development of cities. [ABSTRACT FROM AUTHOR]

The escalating levels of CO2 emissions from the transportation sector have been observed to exert deleterious effects on human well‐being and environmental sustainability. To mitigate these emissions, it is imperative to consider the potential contributions of environmental policies and financial innovation. Thus, this study examines the effects of financial innovation and environmental policy (environmental tax–environmental technology) on transport‐related CO2 emission (TCO2E) for BICS (i.e., Brazil, India, China and South Africa), which are characterized by substantial industrialization, rising TCO2E and growing environmental concerns. The analysis is complemented by including control variables, notably economic growth and the transition to cleaner energy, to offer a nuanced and holistic perspective on the dynamics governing this critical subject matter. The research adopts a novel econometric approach cross‐sectionally augmented auto‐regressive distributed lags for benchmark estimation and fully modified ordinary least squares–dynamic ordinary least squares for robustness analysis from 2000/Q1‐2018/Q4. The findings revealed that financial innovation and economic growth bolster TCO2E and decrease environmental quality in the region. In contrast, environmental tax, environmental innovation and energy transition decrease TCO2E. Based on findings, policy suggestions relating to implementing a carbon tax, promoting green financial innovation and others are discussed to decrease TCO2E. [ABSTRACT FROM AUTHOR]

In recent years, the intensification of global industrialization coupled with the enterprise's production and operating activities have caused pollution, increasing the current environmental pressure. Relevant government departments in China have instituted several stringent measures (environmental protection sensitization and awareness activities, training sessions, and exchange activities targeted towards enterprise managers) to address these rising environmental problems. Though these measures have gained traction over the years, there is a dearth of research on their effectiveness on the green innovation performance of enterprises. To bridge the gap, this research explores the effect of environmental awareness training, knowledge exchange activities, and commitment on green innovation performance with survey data from 285 medical equipment manufacturing companies in China. It further expands the theoretical application of environmental awareness training, commitment, and innovation performance from the lens of the Knowledge-Based View. The findings depict a positive relationship between environmental awareness training and innovation performance. It also finds a mediating influence of environmental commitment in the relationship between environmental awareness training and green innovation performance. Furthermore, environmental knowledge exchange activities positively moderate the relationship between environmental awareness training and environmental commitment. These findings offer valuable insights for the green development of medical equipment manufacturing enterprises and the government to formulate environmental protection policies. [ABSTRACT FROM AUTHOR]

The green credit policy serves as a crucial instrument for achieving the dual objectives of optimal resource allocation and green development. It plays a pivotal role in curbing inefficient investments in innovation by enterprises. This research employs the PSM-DID method to effectively explore the practical effects of the green credit policy on the innovation inefficiency investments of heavily polluting enterprises in China. Examining the impact from the perspectives of environmental regulation and financial constraints, the study utilizes panel data from listed companies on the Shanghai and Shenzhen A-shares markets spanning from 2010 to 2020. The following conclusions are drawn: (1) Green credit policy has proven effective in inhibiting the inefficient investment in innovation by heavily polluting enterprises when compared to non-heavily polluting enterprises. (2) Moreover, this effect is more pronounced in state-owned enterprises and regions with less financial development. (3) Mechanism testing reveals that the green credit policy can discourage corporate over-investment by influencing financing constraints and can alleviate under-investment through commercial credit. [ABSTRACT FROM AUTHOR]

The establishment of green finance reform and innovation (GFRI) pilot zone is an important measure of the Chinese government to urge enterprises to develop green transformation. This paper explores the impact of pilot policies in the GFRI pilot zone on corporate environmental investment. Based on 819 A-share listed enterprises from 2010 to 2020, our staggered difference-in-differences (staggered DID) estimation documents revealed that enterprises in the GFRI pilot zone significantly increased the corporate environmental investment efficiency but reduced the scale of corporate environmental investment.This conclusion remained robust after Propensity Scores Matching difference-in-differences (PSM-DID), replacing dependent variables, and shortening the time window. We contend that the increased research and development (R&D) expenditure and technological innovation are the potential mechanisms at work. Heterogeneity analysis showed that the establishment of GFRI improved the environmental investment efficiency of polluting enterprises but had no effect on green enterprises.Meanwhile, the effect of GFRI exhibited heterogeneity in the type of enterprise ownership. This paper evaluates the implementation effect of GFRI from the perspective of corporate environmental investment, and provides theoretical support and an empirical basis for green finance policy to serve China's green economy. [ABSTRACT FROM AUTHOR]

This article explores the impact mechanism of different types of environmental regulations on corporate green technology innovation (GTI). The research focuses on analyzing three types of environmental regulations: command based environmental regulation (ER1), market-oriented environmental regulation (ER2), and voluntary environmental regulation (ER3), and how they affect corporate GTI. This study selected enterprise GTI as the dependent variable and measured it by the number of applications for green invention patents and green utility model patents. The independent variables are the three types of environmental regulations mentioned above. According to data from Chinese A-share listed companies. Using benchmark regression models to analyze the impact of different environmental regulations on GTI, and constructing a moderating effect model to study the role of corporate R&D investment and government support in the process of environmental regulations affecting GTI. The results indicate that (1) ER1, ER2, and ER3 can all promote enterprise GTI, and the three environmental regulatory methods have a better synergistic effect. (2) R&D investment has a positive correlation with the relationship between ER2 and GTI, and a negative correlation with ER 3 and ER 1. (3) There are differences in the GTI performance of enterprises in different regions, ownership nature, factor density, and industry types under the influence of environmental regulations. (4) The impact of environmental regulatory policies on corporate GTI is mainly short-term. This study provides a new perspective on how environmental regulations affect corporate GTI, especially in the context of developing countries like China. The research findings emphasize the role of different types of environmental regulations in incentivizing corporate GTI, while also pointing out factors that governments need to consider when formulating environmental policies, such as regional differences and corporate characteristics, which are of great significance for promoting green development of enterprises and achieving broader sustainable development goals. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between innovative green (public) efforts and short and long-term environmental degradation, through a cointegration panel with 18 countries selected for the period 1995-2018. The ARDL Panel for cointegration was specified with variable effects of scale, composition and technological change. The results obtained that higher levels of public expenditure on resources directed towards environmental R&D (green innovative efforts), with the aim of green technologies, have a negative relationship with the growth of environmental impacts, i.e., that is. such investments have a good expectation of reducing environmental degradation. [ABSTRACT FROM AUTHOR]

The large-scale loss of ecosystem assets around the world, and the resultant reduction in the provision of nature's benefits to people, underscores the urgent need for better metrics of ecological performance as well as their integration into decision-making. Gross ecosystem product (GEP) is a measure of the aggregate monetary value of final ecosystem-related goods and services in a specific area and for a given accounting period. GEP accounting captures the use of many ecosystem services in production processes across the economy, which are then valued in terms of their benefits to society. GEP has five key elements that make it transparent, trackable, and readily understandable: (1) a focus on nature's contributions to people; (2) the measurement of ecosystem assets as stocks and ecosystem services as flows; (3) the quantification of ecosystem service use; (4) an understanding of ecosystem service supply chains through value realization; and (5) the disaggregation of benefits across groups. Correspondingly, a series of innovative policies based on GEP have been designed and implemented in China. The theoretical and practical lessons provided by these experiences can support continued policy innovation for green and inclusive development around the world. [ABSTRACT FROM AUTHOR]

As the world becomes more concerned about carbon emissions, the Chinese government, which is a large contributor to carbon emissions, has also begun to pay attention to the issue of carbon emissions. Environmental regulatory policies have been implemented to improve the environment, but are these policies really conducive to improving firms' eco-innovation performance? This paper empirically investigates the relationship between environmental regulation policies and firms' eco-innovation performance in China and finds that: firstly, environmental regulation in China is inadequate and that manufacturing eco-innovation performance is generally low; secondly, there is a U-shaped relationship between environmental regulation policies and firms' eco-innovation performance; thirdly, there is significant industry and regional heterogeneity in the induced effects of environmental regulation tools; and fourthly, there is a mediating effect of industrial agglomeration on the promotion of firms' eco-innovation performance. The conclusions of this paper are: firstly, that the Chinese government should continue to improve environmental regulations and strictly enforce them so that green becomes the colour of 'economic recovery'; secondly, that the Chinese government should develop scientific and reasonable environmental regulatory policies according to local conditions; thirdly, that Chinese companies should increase their spending on research and development; and fourthly, that the Chinese government needs to optimise the industrial layout and support mechanisms. The Chinese government should play an active role in industrial agglomeration in technological innovation. [ABSTRACT FROM AUTHOR]

The heavy-polluting industry is inexorably to responsible for the deterioration of the environment. Improving environmental performance is an unavoidable decision for heavy-polluting firms to ensure sustainable development under the policy framework of the carbon peak target. This study provides theoretical and empirical evidence for the effect of environmental protection subsidies on environmental performance. This study constructs basic and mediating effect models to measure how environmental protection subsidies affect environmental performance using panel data of China's heavy-polluting listed firms from 2008 to 2019. This is an important outcome of industrial green transformation in environmental governance and provides a scientific basis for government departments to formulate environmental policies. The results of the empirical analysis show that environmental protection subsidies can improve the environmental performance of heavy-polluting listed firms. After receiving environmental protection subsidies, firms engaged in clean and green production through green technology innovation, thereby reducing external environmental pollution and improving their environmental performance. The mediating role of green technology innovation in the relationship between environmental protection subsidies and environmental performance is significant only in state-owned firms and firms in Eastern China. The research results may further guide the direction of green development of heavy-polluting industries, and thus promote harmonious development between the environment and the economy. [ABSTRACT FROM AUTHOR]

Under the background of global response to climate crisis and environmental pollution, environmental regulation plays an increasingly important role in green technology innovation. This paper uses data from 280 Chinese cities from 2003 to 2019 to empirically answer the question whether environmental regulation can improve the level of urban green technology innovation. It is found that environmental regulation has a significant positive effect on green technology innovation. Under the heterogeneity of economic geographical region and resource-based city, environmental regulation has positive promoting effect on urban green technology innovation. Heterogeneity results also show that environmental regulation significantly promotes green technology innovation in central and resource-based cities, but does not significantly promote green technology innovation in eastern and western cities and non-resource-based cities. Further research shows that environmental regulation can promote the level of green technology innovation through the two transmission mechanisms of government technology input and foreign direct investment. For the Chinese local government which is implementing the policy of green economic transformation, the formulation of scientific regional environmental policy is beneficial to improve the level of green technology innovation, increase government technology input and optimize the foreign investment environment. [ABSTRACT FROM AUTHOR]

Climate policy uncertainty (CPU) may have an adverse impact on the environment by interfering with the effectiveness of environmental policies, but there is currently little evidence to support this indirect effect. By incorporating CPU into the transition function, this paper utilizes the panel smooth transition regression (PSTR) to dynamically analyze how CPU affects the relationship between environmental taxes (ETR) and energy transition. When CPU exceeds the threshold, the promoting effect of ETR on energy transition weakens or reverses. The robustness of the main conclusions is demonstrated by establishing a PSTR estimator with the instrumental variable. This paper also constructs a counterfactual scenario, showing that CPU reduces the positive impact of ETR on renewable energy consumption and generation by 7.6% and 3.5%, respectively. Further analysis indicates that this negative effect arises because CPU likely increases investment risk, particularly for long-term green projects, thereby inhibiting the clean energy market and energy-related green technological innovation. Heterogeneity analysis find that the weakening effect of CPU on the effectiveness of ETR is stronger in countries with low energy resource endowment, high energy intensity, and lower economic development levels, underscoring the need for tailored policy approaches. This research emphasizes that for countries with ambitious energy transition goals, climate policy stability is crucial for ensuring the healthy development of environmental taxes policy and renewable energy markets. [Display omitted] • Indirect effect of climate policy uncertainty (CPU) on energy transition is studied. • Instrumental variable panel smooth transition regression proves the robustness. • A counterfactual scenario is constructed to quantify the net negative effect of CPU. • The indirect impact of CPU varies by a country's energy resource and economic level. [ABSTRACT FROM AUTHOR]

Government innovation subsidies play an important role as a policy to incentivize green transformation of enterprises, but whether government innovation subsidies can reduce the carbon intensity of industrial enterprises is still unclear, the exploration of the impact pathway needs to be further developed. This study takes government innovation subsidies as the entry point. It takes Chinese industrial listed companies as the research object from 2007 to 2021, explores the internal mechanism of government innovation subsidies on carbon intensity of industrial enterprises, analyzes the heterogeneity of the impact of government innovation subsidies on the carbon intensity of government innovation subsidies, and finally compares the differences arising from the governance effects of the policies of government innovation subsidies and government non-innovation subsidies. The results of the study show that: 1. Government innovation subsidies are beneficial for improving the energy utilization efficiency of enterprises and significantly reducing carbon intensity, unit government innovation subsidies can reduce the carbon dioxide emissions of industrial enterprises by 11.069 tons per 10,000 yuan of output value; 2. Government innovation subsidies can effectively incentivize industrial enterprises to carry out green technological innovations, and improve the quantity and quality of green technological innovation; 3. Government innovation subsidies can reduce carbon intensity of industrial enterprises by incentivizing the green technological innovations of enterprises to "increase the quantity and improve the quality". In fact, carbon intensity of industrial enterprises could be significantly reduced by incentivizing green technological innovation. Heterogeneity analysis shows that the greater the pressure of environmental tax and the higher the degree of market competition, the stronger is the effect of government innovation subsidies in reducing carbon intensity. The inclusion of government non-innovation subsidies in the control study shows that government innovation subsidies with innovation orientation motivate industrial enterprises to reduce carbon emissions significantly more than those subsidies without innovation orientation. In conclusion, this study provides a practical reference for the promotion of green technological innovation in enterprises to "increase the quantity and improve the quality" and reduce carbon intensity, as well as a revelation for the adoption of differentiated policies for different enterprises. [Display omitted] • Focuses on high carbon emissions industrial enterprises, enriches the research on carbon intensity governance. • Explores the intermediary transmission role of green technology innovation from the quantity and quality aspects. • Asymmetric effects of government innovation subsidies and non-innovation subsidies are included in comparative study. • A heterogeneity analysis is conducted based on different environmental tax backgrounds and industry competition levels. [ABSTRACT FROM AUTHOR]

Green technology is an important path to achieve low-carbon development, and green credit provides financial support for green technology innovation. Existing literature often fails to pay attention to the important role of spatial factors and outliers in green technology innovation. Based on 2005–2022 provincial panel data in China, this paper uses a novel spatial lag quantile model to explore the impact of green credit on green technology innovation and its impact mechanism. The empirical results indicate that green credit exerts a greater positive impact on green technology in the provinces with moderate technical level. Technological innovation has the characteristic of spatial spillover. The spatial spillover of technology contributes more to green technology innovation in the provinces with low- and medium-tech level. This result has been proven even after robustness test of the changes in sample units, and the replacement of core variable values. Further mechanistic analysis demonstrates that banking market structure and enterprise R&D investment both produces the greater impact on green technology innovation in the low-tech provinces such as Qinghai, Ningxia, and Hainan. This article provides policy reference for local governments to formulate green finance policies and promote carbon neutrality strategies. • Green credit exerts a greater impact on green technology in the moderate-technical provinces. • The spillover effect contributes more to green technology in the low-tech provinces. • Banking market structure produces the greater effect on green technology in the low-tech provinces. [ABSTRACT FROM AUTHOR]

Achieving sustainable development goals (SDGs) has garnered significant attention from academia and policymakers worldwide. In this study, we examine the impact of ICT, technological innovation (TI), and environmental policy stringency (EPS) on SDI, considering the moderating role of governance quality (GQI) and transport infrastructure (TIS). A comprehensive dataset of 17 advanced nations is utilized from 1996 to 2021. To capture the dynamic and extreme marginal impacts of these policy instruments on SDG attainment, we employ the advanced technique of Feasible Generalized Least Square (FGLS). The results demonstrate that ICT has a positive and significant effect on SDGs, particularly when combined with high levels of governance quality (GOV) and transport infrastructure (TIS). Likewise, TI has a positive impact on SDGs, especially in the presence of strong governance. Furthermore, EPS exhibits a positive association with SDGs. The findings also reveal that while governance hurts SDGs, this effect diminishes when combined with higher levels of ICT, TI, and EPS, and when TIS positively moderates the relationships. The robustness estimations using DOLS and PCSE methods validate the FGLS findings. These results underscore the importance of ICT, TI, and EPS in advancing sustainable development. Moreover, they highlight the significance of good governance and robust transport infrastructure in maximizing the positive effects of these factors. These findings hold implications for policymakers and stakeholders involved in promoting sustainable development. • Investigates the impact of ICT, TI, and EPS on achieving SDGs in 17 advanced nations from 1996 to 2021. • Our research captures the impact of policy instruments on SDG attainment, with moderating effects of GQI and TIS. • Positive link for all the explanatory factors on SDGs. • Governance shows a negative impact on SDGs, this effect diminishes in the presence of higher levels of ICT, TI, EPS. • Robustness estimations using DOLS and PCSE methods validate the FGLS findings. [ABSTRACT FROM AUTHOR]

Most countries, notably those that signed the Paris Climate Agreement, prioritize achieving the zero carbon or carbon neutrality aim. Unlike earlier studies, this one assesses the contribution of environmental policy, clean energy, green innovation, and renewable energy to the E7 economies' achievement of carbon neutrality goals from 1990 to 2019. Findings emanating from the study show that the EKC hypothesis is valid in E7 countries. Implying that emissions in the E7 countries increased with the kick-off of development but declined later due to possible potent environmental regulatory policies put in place. Similarly, across all models, renewable energy (REN), green innovations (GINNO), environmental tax (ETAX), and technological innovations (TECH) were found to exert a negative and significant impact on carbon emissions in the E7 countries both in the short and long run. On the other hand, economic expansion (GDP) positively impacts environmental deterioration. Furthermore, the country-specific result shows that, on average, Brazil, India, China, Russia, Mexico, and Indonesia have significant environmental policies aiding carbon abatement. Except for Brazil, Mexico, and Indonesia, the income growth in the rest of the countries does not follow the EKC proposition. Furthermore, the causality result revealed a unidirectional causal relationship between GDP, REN, and GINNO to CO2 emission. No causality was found between ETAX with CO2, while a bi-directional causality exists between technology and CO2 emissions. Based on the finding, policymakers in the E7 countries should move away from fossil fuels because future electricity output will not be sufficient to reduce emissions considerably. Environmental regulations, encouraging technological innovation, adopting green and sustainable technology, and clean energy sources, among other things, demand radical and broad changes. [ABSTRACT FROM AUTHOR]

The growing urgency of environmental problems, such as climate change, pollution, and waste management, has highlighted the importance of eco-innovation. It includes the development of sustainable solutions for goods and services. As corporations adopt sustainability practices, governments are increasingly essential in propelling eco-innovation. Innovation and economic growth are inextricably linked since innovation helps reduce costs, increases productivity, and builds knowledge. Eco-innovation, requiring stakeholders' collaboration and knowledge sharing where public policy plays a critical role in fostering eco-innovation, is frequently catalyzed by climate change and environmental issues. This paper provides an assessment of the public policy of several countries and its part in promoting eco-innovation. It explores how policy tools such as research and development investments, regulations, incentives, and infrastructure can be used successfully. It also explores how such instruments influence small and medium enterprises due to their importance in environmental sustainability policy. This research contributes to knowledge and adds to the literature by offering a global approach to the subject, complementing previous regional/single-country studies. It demonstrates the worldwide consequences of policy actions on eco-innovation and provides recommendations for policymakers, businesses, academics, and environmental stakeholders. The results highlight how governmental support is integral to ensuring the sustainability of a green future with economic benefits. [ABSTRACT FROM AUTHOR]

The trading of carbon emissions is a crucial regulatory method to address environmental pollution issues. This study takes China's carbon emission trading pilot policy established in 2013 as a quasi-natural experiment and uses the DID model to empirically test the urban panel data from 2006 to 2019. The results show that the carbon emission trading pilot policy can effectively reduce urban environmental pollution, and this effect is more noticeable in mid-western cities, northern cities, cities with fewer resources, and large-scale cities. In addition, to address the urban environmental pollution problem through this policy, the government is encouraged to raise its environmental protection awareness and put more effort into the innovation of technology. In general, this study uses carbon emission trading policies from China to confirm that market-based incentive environmental regulation tools can effectively reduce environmental pollution in urban areas. These findings can provide more theoretical support and empirical evidence for the government to use mechanisms of the market to effectively solve pollution problems, improve ecological environment quality, and accelerate the realization of green economy. • The DID model is used to track pilot policy impact on urban environmental pollution. • Carbon emission trading pilot policy can reduce urban environmental pollution. • The government's environmental awareness is the channel of action. • The government's technological innovation efforts are the channel of action. [ABSTRACT FROM AUTHOR]

Over the last decade, waste management and prevention have become important in the transition towards a circular economy (CE). This study explores how voluntary environmental policies, adopted at a regional level, contribute to green transition from the perspective of the CE. By considering general and region-specific trends in waste management and environmental certifications, we perform a two-step analysis on a panel of 20 Italian regions between 2015 and 2019: the first step extrapolates the relative efficiency by using a Data Envelopment Analysis (DEA), while the second step extrapolates the efficiency in terms of productivity changes supported by Malmquist Productivity Analysis (MPA). The DEA results show an overall rising trend of efficiency among the Italian regions, supported by the MPA. Furthermore, they reveal that technological innovation in Italian waste management contributes to a greater efficiency in socio-economic systems which are characterized by 'environmental federalism'. From a decision-making perspective, this study suggests that measures such as the incentivization of voluntary environmental policies should be proposed to promote techno-organizations' transition to CE, in coherence with regional economic/industrial specializations and strategies, possibly based on a diversified policy mix, setting a knowledge-based framework by using budgetary measures and policy actions at the regional level. • Circular Economy with resource recovery is a driving force to achieve green transition. • Increase in resource efficiency is an unexplored economic opportunity to support growth. • EMAS and UNI EN ISO certifications are proxies for the level of attention paid to the environment. • Voluntary environmental certifications facilitate the transition. • Choices made at the regional level contribute to the transition. [ABSTRACT FROM AUTHOR]

Green energy efficiency (GEE) is pivotal for sustainable economic growth, particularly in the context of China's ambitious environmental goals. This study assesses the impact of Green Financial Reform and Innovation Pilot Zones on GEE from 2005 to 2020, using the SBM-GML method and a Double Difference Model (DID). Findings indicate a significant improvement in GEE within these zones, driven by advancements in green innovation and environmental regulation. At the micro level, firms in pilot zones show enhanced Environmental, Social, and Governance (ESG) performance and experience fewer financial constraints. The effectiveness of green finance policies is more pronounced in resource-rich and financially efficient regions, suggesting that these initiatives can significantly contribute to sustainable development. Based on empirical evidence, we recommend expanding pilot zones, promoting green technological innovation, and developing tailored green finance policies to address regional ecological sensitivities. [ABSTRACT FROM AUTHOR]

China's ambitious endeavor to curtail carbon emissions has led to heightened governmental attention on addressing the issue of excessive carbon emissions. As governmental tolerance for such emissions diminishes, governments promote and support more proactive emission reduction methods of green innovation in enterprises. This study analyzes panel data from Chinese-listed businesses to explore the correlation between regional carbon emission pressure and green innovation. Our findings indicate a positive relationship between carbon emission pressure and enterprises' engagement in green innovation initiatives. Governmentenvironmental attention, punitive regulations, and incentive subsidies are the main channels. Market policies, including carbon emission trading and green credit policies, potentially impact the interplay between carbon emission pressure and green innovation. Moreover, our heterogeneity analysis underscores that enterprises facing looser financing constraints, exhibiting more social responsibility initiatives, and operating within polluting industries tend to experience a more pronounced positive impact than their counterparts in other sectors. • Regional carbon emission pressure has significantly promoted enterprises' green innovation. • Government awareness, punitive regulations, and incentive subsidies are the main channels. • The 2015 Paris Agreement in 21st United Nations Climate Change Conference contributes to the promotion of green innovation of enterprises. • The carbon emission trading and green credit policies enhance the promotion of green innovation. [ABSTRACT FROM AUTHOR]

The escalating demand for resources in urban and rural construction development raises the crucial question of achieving green development within limited resource constraints. This study delves into the interplay between environmental policy and green development in urban and rural construction. Utilizing the spatial Durbin model for analysis, findings reveal that investment-oriented environmental regulation significantly impacts green development and positive spillover effects in neighboring regions when considering spatial weight matrices. In contrast, cost-based environmental regulations positively affect green development when spatial interactions are disregarded. However, they exhibit negative effects at the spatial level, potentially leading to a "pollution relocation" phenomenon. Although the influence of R& D subsidy-based environmental regulations on green development is not significant, their impact becomes notable upon considering spatial interactions, potentially generating positive effects across regions through mechanisms such as technology diffusion and knowledge transfer. Furthermore, from an endogeneity perspective, the impact of environmental regulatory tools on green development exhibits a time lag effect. Moreover, investment-type regulation in the eastern regions significantly fosters green development, whereas cost-based regulation shows a suppressive effect; investment-type regulation in central regions has a positive spillover on neighboring areas; and R&D subsidies in western regions negatively impact local green development. Moreover, the quality of governmental institutions, market integration, and technological innovation are key factors influencing green development in China's urban and rural construction. This study reveals the direct and indirect effects of various environmental policy tools on green development in urban and rural areas. It emphasizes the importance of considering spatial interactions in implementing environmental policies, providing a theoretical foundation and practical guidance for optimizing environmental policies. [ABSTRACT FROM AUTHOR]

Green credit can alleviate the financing constraints of green enterprises, and thus is an important policy to encourage green development and mitigate climate change. However, how green credit affects the technological innovation of clean energy enterprise (TICEE) and the role of corporate policy catering behavior (CPCB) both need to be further explored. Therefore, the impact mechanisms of green credit and the roles of CPCB are empirically tested by the mediation model and moderation model, respectively. Compared with large, eastern and mature enterprises, green credit plays a stronger positive role in the technological innovation of small, central and western and growing enterprises. Green credit optimizes enterprises' debt financing by alleviating financing constraints, reducing debt costs and extending debt maturity structure, thus driving technological innovation. Besides, the two most typical types of CPCB — research and development (R&D) manipulation and rent-seeking — weaken the positive effect of green credit on TICEE. However, CPCB weakens less on the quality of innovation of large, mature and eastern enterprises. Accordingly, green credit should be strengthened to promote TICEE, and the supervision of corporate speculation should also be strengthened to avoid the policy's failure. [Display omitted] • Green credit promotes the technological innovation of clean energy enterprises. • Corporate financing constraints, debt cost and debt maturity mediate the effect. • Policy catering behavior inhibits the role of green credit in corporate innovation. • The effects are stronger on small, growing enterprises in developing regions. • Various policy priorities and avoiding corporate speculation should be highlighted. [ABSTRACT FROM AUTHOR]

This paper is the inaugural attempt to investigate the herding behavior of firms in the context of environmental orientation to achieve the UN SDGs (Sustainable Development Goals) in the ASEAN region. Insights from the previous literature infer that peer effect is visibly seen in firms across various fields, especially amongst their CSR and ESG performance. Using data from the Thai listed firms, we document strong evidence of peer effects concerning environmental performance and its dimensions (emission reduction, product innovation, and resource reduction). The targeted time frame for the current study is from 2009 to 2019 for which we analyze the firms listed on the Thailand Stock Exchange (SET). Moreover, the results of our study support the fact that mimicking behavior is one of the common behaviors that is followed by the majority of the firms keeping in view their varied purposes which include enhancing their market reputation, increasing profits, attracting shareholders and investors and most importantly raising their sustainability standing. Thus, overall our study highlights the main perspective that peer effects and herding behavior a common practices amongst firms concerning their environmental policies. [ABSTRACT FROM AUTHOR]

Although technological innovation plays a critical role in promoting sustainable development and environmental sustainability, there are few studies in the existing literature that address this relationship. This study aimed to investigate the relationship between technological innovation (TI), renewable energy consumption (REC), natural resource rent (NRR) and ecological footprint (EF) of E-7 countries (i.e. Brazil, China, India, Indonesia, Mexico, Russia and Turkiye) from 1992 to 2018 in order to ensure environmental sustainability in the context of the Sustainable Development Goals (SDGs). Analysis was performed using the ARDL estimator, robustness test and Dumitrescu-Hurlin panel causality (DHC) test. Long-term empirical estimates from the PMG-ARDL technique have shown that a 1 % increase in TI and REC reduces EF by 0.064 % and 0.234 %, respectively, i.e. increases environmental sustainability. At this point, it is possible to say that TI and REC contribute to the achievement of SDG-7 and 13 in E-7 countries while NRR and real income (GDP) were found to impede the achievement of SDG-7 and 13 in E-7 countries through an increase in EF. The results were confirmed using robustness techniques. In the DHC test results, while there is a unidirectional causality from TI to EF, from EF to NRR and trade openness, a bidirectional causality was found between GDP and EF. This study suggests that policymakers should focus on introducing environmentally friendly equipment to reduce environmental degradation, increase the share of RECs and focus on sustainable development within the framework of the SDGs. • We explore nexus between technological innovation affect the ecological footprint in E-7 economies. • Adoption of second-generational panel econometrics techniques. • Technological innovation and renewable energy consumption help in mitigating climate change. • Green growth policies should be pursued in E7 energy mix. [ABSTRACT FROM AUTHOR]

Climate change is a non-traditional security crisis affecting the global economy and diplomatic progress. In order to curtail carbon emissions and alleviate the perils of climate change at their roots, urban green innovation (UGI) has emerged as a pivotal technological solution. Using the expansion of the Yangtze River Delta urban agglomeration in China as a case study, this paper develops a quasi-experimental model to analyze the effects of regional integration policies on UGI. The main findings are: (1) Regional integration policies significantly enhance UGI and their impact is more pronounced with the expansion of urban agglomerations; (2) Regional integration policies contribute to the advancement of exploitative green innovation while tending to diminish exploratory green innovation; (3) The green innovation effects (GIEs) created by the expansion of regional integration policies are largely influenced by governmental mechanisms on environmental governance as well as residents' green preferences. Based on these findings, recommendations are put forward to promote UGI from the perspective of policy implementation. • The quasi-experimental models of urban agglomeration expansion on green innovation are constructed. • The positive effects of urban agglomeration expansion on green innovation are proven. • Urban agglomeration expansion can enhance exploitative green innovation and also reduce exploratory green innovation. [ABSTRACT FROM AUTHOR]

Rapid developments in environmental infrastructure have contributed to significant improvements in green total factor productivity, but further investigation is required to provide a detailed assessment to understand the policy mechanisms involved. This paper analyzes environmental progress in China through MMQR, CCEMG, and AMG as empirical strategies for 30 provinces in China. Our empirical results reveal that energy optimization through renewable energy is the most effective channel to improve green total factor productivity, though it is not the only available option. Since environmental regulations, infrastructure development, and green technology innovation also directly impact energy efficiency, adopting these within policy channels will positively impact environmental sustainability. Our empirical approach helps suggest novel environmental policy suggestions. In particular, policymakers must introduce structural changes within energy developments to foster renewable energy. Furthermore, China must increase environmental spending to upgrade its energy infrastructure further and solve ecological issues. These insights offer valuable policy guidance for decision-makers in China and globally, aiming to foster economic and environmental sustainability and achieve zero-carbon transition goals. • The current study analyses the role of green factor productivity in zero carbon transition. • We use 30 chinese provincial datasets from 2005 to 2020. • Energy transition is the most effective channel to improve green total factor productivity. [ABSTRACT FROM AUTHOR]

Green innovation (GI) is increasingly recognised as an effective strategy for tackling climate change, mitigating environmental issues, and promoting sustainable development. Using panel data of the Chinese listed firms from 2007 to 2019, this study adopts the difference-in-differences approach to assess the impact of the green finance policy (GFP) initiated by the Chinese government in 2012 on the green innovation performance of firms. The findings reveal that the GFP significantly boosts the green innovation performance of heavily polluting enterprises (HPEs). Notably, this effect is more pronounced in state-owned enterprises and firms with high dependence on external finance. Compared with penalty-based regulations, incentive-based and voluntary environmental regulations demonstrate more significant moderating effects on the relationship between the GFP and green innovation performance for HPEs. We also identify improved efficiency in the usage of green investments as a potential mechanism through which the GFP enhances the green innovation performance of HPEs. Further comparative analysis shows that green enterprises can achieve simultaneous improvement in both the quality and quantity of green innovation, whereas HPEs predominantly exhibit enhancements in innovation quantity. To maximise the GFP's positive effects, it is recommended to facilitate more targeted bank lending towards HPEs to support their structural transformation. Additionally, the coordinated deployment of diverse environmental policy instruments is advised to exploit their synergistic effects. • This paper confirms the positive relationship between Green Finance Policy (GFP) and the green innovation. • We develop a novel machine learning approach to enhance the accuracy of variable measurements. • Firms with different ownership structure and external finance reliance are impacted differently by the GFP. • Both incentive-based and voluntary environmental regulations have positive moderation effects. • GFP can improve the green innovation by enhancing the green investment efficiency. [ABSTRACT FROM AUTHOR]

Encouraging enterprises to engage in green innovation is a potent strategy for reducing carbon emissions from production. As one of the largest carbon emitters, China has launched a series of policies to achieve carbon peaking and neutrality collectively referred to as China's dual carbon policy. However, existing research on the impact of China's dual carbon policy on green innovation by heavy-polluting enterprises is insufficient. To fill this gap, this study constructed a theoretical model to draw hypotheses about the impact of the dual carbon policy on enterprises' green innovation and verified this impact using a difference-in-differences model to conduct a quasi-natural experiment based on data from 2010 to 2022 from Chinese A-share-listed enterprises. The results indicate that the dual carbon policy had a significantly positive influence on green innovation in heavy-polluting enterprises. Moreover, environmental tax mediated this effect, while enterprises' total costs and subsidies positively moderated it. Additionally, the impact exhibited variations based on several key factors, including green patent type, carbon emissions, enterprise ownership structure, and Environmental, Social, and Governance ratings. This study supplements related research on the effects of environmental policy on green innovation and provides both theoretical and empirical support for adapting subsequent environmental policies. • This study explores the impact of China's dual carbon policies on green innovation by firms. • We create a theoretical model and validate it using data from listed Chinese firms. • The dual carbon policies significantly increase green innovation by firms. • This relationship is mediated by environmental tax and moderated by firm costs and subsidies. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of China's environmental regulations, with a focus on the green credit policy, on green innovation in pursuit of the "carbon peak and carbon neutrality" goal. Given the implementation of the 2012 Green Credit Guidelines, this paper employs the Difference-in-Difference Method (DID) and conducts a quasi-natural experiment to empirically examine the interactions among the central government, local governments, and high-pollution and high-emission enterprises by exploring the impact of green credit policies on green innovation of these enterprises. Relying on 4503 samples of 237 high-pollution and high-emission enterprises listed in the main board in China from 2003 to 2021, this study reveals that the green credit policy can improve green innovation of these enterprises. Specifically, this study explores the detailed mechanism through which the green credit policy enables these enterprises to increase their market concentration and then the monopoly profits, which in turn promotes their green innovative productivity. In addition, this paper also reveals how local governments' political and financial incentives may serve as positive and negative moderating factors, respectively, within the impact mechanism. This study has valuable implications for how to effectively formulate and implement environmental regulations by balancing the interests of the central government, local governments and enterprises. [ABSTRACT FROM AUTHOR]

Many studies have suggested that implementing green human resource management (GHRM) can help alleviate ecological issues around the world and enhance sustainable practices, resulting in better environmental performance (EnvP). This study delves into the relationship between green innovation, environmental policy, and green behavior in the workplace, and how they relate to GHRM and EnvP. Moreover, it delves into the dual mediation of green innovation and workplace green behavior, as well as the moderating influence of environmental policy. Data was gathered from 384 employees employed by Malaysian manufacturing firms that adhere to green HR practices, prioritize environmental issues, and comply with environmental policies. The data was analyzed using Smart PLS. The findings reveal that green innovation, green behavior at work, and environmental policy act as mediators and moderator in the relationship between GHRM and the EnvP of companies. The research also shows that GHRM operations are making increased efforts towards EnvP, specifically in terms of promoting green innovation and encouraging green behavior in the workplace. Likewise, these actions have a direct impact on a company's EnvP. This study demonstrates the vital role of GHRM activities in the manufacturing industry. It conclusively proves that these activities can effectively promote green behavior in the workplace, thus significantly enhancing the social and EnvP of companies. This invaluable information is indispensable for both researchers and managers in their drive towards sustainable development. [Display omitted] • The environmental conditions in the manufacturing sector are being debated. • Investigate the double mediation of green innovation and behavior in the workplace. • Propose a model for evaluating environmental outcomes in the manufacturing sector. • Moderating function of environmental policy fosters green innovation and performance. • Employees green practices and environmental policies boost manufacturing performance. [ABSTRACT FROM AUTHOR]

Based on the unique perspective of local environmental regulations promulgated in Chinese prefecture-level cities from 2000 to 2018, this paper examines the impact of urban environmental legislation on green total factor energy efficiency (GTFEE). The results show that implementing environmental legislation significantly improves local GTFEE , with comprehensive protection regulations contributing to local energy efficiency improvements, while the impact of pollution prevention regulations is insignificant. This conclusion remains robust to multiple scenarios. Potential mechanisms through which environmental legislation can guide urban green transition include the industrial upgrading effect represented by "clean industry development" and "polluting industry exit", as well as the technical innovation effect achieved through "new technology generation" and "old technology upgrading". Furthermore, environmental legislation with a higher degree of regulatory effectiveness has a greater potential for energy saving. Environmental legislation has a more significant impact on improving GTFEE in cities in non-old industrial bases, with less frequent turnover of officials, and in central and western regions in China. This study evaluates the positive impact of urban environmental legislation on GTFEE , aiming to advancing the rule of law in local environmental pollution governance and thereby promote urban green transition. • Use a Difference-in-Differences model to explore the effect of urban environmental legislation. • Environmental legislation guides urban green transition development. • The impact of heterogeneous urban environmental regulations on green transition development. • Industrial upgrading and Technical innovation have positive mediating roles. • Environmental legislation policy has city attributes, official turnover and location heterogeneity. [ABSTRACT FROM AUTHOR]

Anthropogenic global warming strategies on carbon mitigation are driven by encouraging green innovation and using carbon taxes, yet an empirical model to validate this is non-existing. Moreover, the existing stochastic effects by regression on population, wealth, and technology (STIRPAT) model has been found to lack policy tools on taxes and institutions that cut carbon emissions. This study amends the STIRPAT model with environmental technology, environmental taxes, and strong institutional frameworks to create a new model STIRPART(stochastic impacts by regression on population, affluence, regulation, and technology) to understand the factors impacting carbon pollution using the emerging 7 economies. Using data from 2000 to 2020, the Driscoll-Kraay fixed effects are employed in this analysis to conduct evidential tests of the impacts of environmental policies, eco-friendly innovations, and strong institutions. The outcomes indicate that environmental technology, environmental taxation, and institution quality decrease E7's carbon emissions by 0.170%, 0.080%, and 0.016%, respectively. It is recommended that E7 policymakers should adopt the STIRPART postulate as the theoretical basis for policies favoring environmental sustainability. The key contribution is the amendment of the STIRPAT model and the enhancement of the market-based mechanisms, such as patents, strong institutions, and carbon taxes, to enable environmental policy to be carried out sustainably and cost-effectively. • The research analyzed how E7 economies reduced carbon emissions from 2000 to 2020 using environmental technology, environmental taxes, and robust institutional frameworks. • An expanded STIRPART model was conceptualized to assess factors impacting carbon pollution in E7 economies. • STIRPART model represents a pivotal contribution to carbon mitigation strategies in emerging economies. • Driscoll-Kraay fixed effects and method of moment quantile used to conduct evidential tests on impacts of environmental policies, eco-friendly innovations, and strong institutions. • Improvement of market-based mechanisms, such as patents, strong institutions, and carbon taxes, is necessary for sustainable and cost-effective environmental policy. [ABSTRACT FROM AUTHOR]

Green transition is important for the economics of the OECD countries and their transition to cleaner production. This paper estimates a knowledge production function consisting of a system of innovation inputs, innovation outputs, and productivity with feedback effect from productivity on innovation investments. The model accounts for productivity shock, endogeneity of inputs, and their simultaneity and interdependence. Productivity shock is a latent unobserved component that is specified in terms of observable factors. The model is estimated using Bayesian methods organized around Marco Chain Sequential Monte Carlo iteration techniques also known as Particle Filtering. For the empirical part, the paper uses balanced panel data covering 27 OECD countries' green innovation and patents activities observed during the period 1990–2018. Our empirical results show evidence of significant heterogeneity in productivity and its relationship with its identified determinants. The paper also discusses the implications of these results for OECD countries' green growth strategies. • This paper estimates a knowledge production function with system of equations. • It accounts for endogeneity of inputs and their simultaneity and interdependence. • The latent productivity shock is specified in terms of observable factors. • Uses panel data covering 27 OECD countries observed from 1990 to 2018. • Find heterogeneity in productivity & its relationship with identified determinants. [ABSTRACT FROM AUTHOR]

Environment-related innovations are widely appreciated as a vital factor in achieving sustainable development goals, and stability in the financial sector can help boost the output of environmental innovations by removing financial constraints. Hence, the primary aim of the analysis is to investigate the impact of financial stability on environmental innovation in China by using the QARDL model over the period 1995Q1-2020Q4. The study's main findings confirm the positive role of financial stability on environmental innovation in both the short and long run. Wald test also confirms the asymmetric impact of financial stability on environmental innovation in the short and long run. Moreover, the long-run impacts of GDP, R&D activities, and environmental policy stringency on environmental innovation are positive. In the short run, the estimates of research and development and environmental policy stringency are positively significant at higher quantiles only. Based on the findings, our research will help policymakers to develop valuable policies for financial stability to enhance environmental innovation. [ABSTRACT FROM AUTHOR]

As urbanization has developed, a variety of urban clusters have gradually emerged with important effects on regional economic growth and carbon emissions. This paper constructs a multi-period difference-in-difference (DID) model for testing how urban cluster synergistic development policy (UCSDP) affects urban carbon productivity in 148 cities of China with 13 urban clusters as the experimental group from 2003 to 2019. According to the results, the UCSDP improves carbon productivity, mainly via reducing energy intensity. In addition, UCSDP improves carbon productivity by adjusting energy structure, increasing green innovation, altering city greening levels, and accelerating the process of urbanization. Moreover, it can produce synergistic effects in terms of energy structure, green innovation, greening level, and urbanization level. Furthermore, the UCSDP has heterogeneous effects on the carbon productivity in various cities. Specifically, the carbon productivity of high-status, high-rank, and resource-based cities responds more significantly to UCSDP. Therefore, policymakers should strengthen the integration of urban clusters, offer targeted development suggestions for different cities, modify the energy and greening structure, accelerate the process of urbanization, and focus on the formulation of reasonable environmental regulation policies. • Exploring the impact of UCSDP on carbon productivity with multi-period DID model. • The improvement of carbon productivity by UCSDP mainly comes from the decrease of energy intensity. • UCSDP increases carbon productivity by affecting energy structure, green innovation, greening level and urbanization level. • UCSDP produces synergistic effects in terms of energy structure, green innovation, greening level and urbanization level. • The impact of UCSDP on carbon productivity varies by city status, city rank and city type. [ABSTRACT FROM AUTHOR]

As China's longest-implemented market-based environmental regulation policy, emission charges have contributed outstandingly to improving the ecological environment and reducing firms' pollution emissions. We assess the impact of emission charges on the innovation quality of Chinese firms based on the perspective of firms' breakthrough technological innovation. By observing Chinese A-share listed firms with heavy pollution from 2011 to 2020, we find that corporate breakthrough technological innovation positively moderates the emission charges to enhance the quality of corporate innovation. Our mechanism tests suggest that emission charges and breakthrough technological innovation positively affect innovation quality by improving the means of green innovation of enterprises. In addition, heterogeneity analysis shows that emission charges and firms' breakthrough technological innovation are only effective in improving the innovation quality of state-owned firms, and the effect on the innovation quality of non-state-owned firms is not significant. Our findings suggest that the imposition of emission charges and incentives for firms to embark on breakthrough technological innovation can effectively improve the quality of innovation. • The article is probably the first literature to explore the effects of breakthrough technological innovation and emission charges on the innovation quality of heavily polluting enterprises in China, enriching the research on the impact of enterprise innovation models on environmental regulation. • Based on the IPC information of enterprise patent applications, the paper distinguishes enterprise innovation patterns and explores the moderating effect of breakthrough technological innovation on emission charges to enhance the quality of enterprise innovation. • This paper provides micro evidence on the impact of environmental regulation on innovation quality based on the perspective of firms' breakthrough technological innovation, which has important implications for adopting environmental regulation to achieve a "win-win" situation between pollution control and improving innovation quality. [ABSTRACT FROM AUTHOR]

The Chinese government has made great efforts in air pollutant reduction and carried out strict regulation policies. Since numerous air pollutants and CO 2 tend to have the same root, source, and process, recent studies argue that environmental regulation may also contribute to reducing carbon emissions. To investigate how various types of environmental regulations affect carbon emissions reduction, this paper constructs the spatial Durbin model and panel threshold model based on provincial panel data in China during 2003–2019. The main findings are as follows: First, China's net carbon emissions show a decreasing trend from east to west, displaying significant spatial agglomeration characteristics. Then, formal and informal environmental regulations have inverted U-shaped impacts on net carbon emissions. The "green paradox" and "reverse emission reduction" effects come into play at different stages. Finally, the threshold model reveals that with the improvement of regional technological innovation levels, the carbon-reducing effect of environmental regulation will increasingly come to the fore. These research findings are conducive to providing theoretical guidance for government to formulate and implement environmental regulation policies rationally. • Carbon sink effect is considered in the carbon emissions assessment framework. • The spatial spillover and threshold effects of environmental regulation is studied. • Environmental regulation has an inverted U-shaped impact on net carbon emissions. • Technological innovation level exerts a threshold effect between them. [ABSTRACT FROM AUTHOR]

Environmental justice is a more sustainable constraint on polluting behavior than administrative instruments. Previous literature has explored the impact of various administrative instruments applied to environmental regulation on green innovation but has neglected the possible role of environmental justice. This paper examines the effect of environmental justice on green innovation using the multi-period difference-in-difference (DID) approach by taking the establishment of the Chinese environmental court as a policy shock, thus filling the gap in previous studies. We conclude that: first, the establishment of environmental courts significantly contributes to the level of green innovation. This finding holds after a series of robustness tests. Second, environmental justice pushes polluters to engage in green innovation through the mechanism of pollution control. Third, the effect of environmental courts on green innovation is not significant in resource-based cities, which depend more on high-polluting industries for development. Fourth, a better legal environment can help improve the effectiveness of environmental justice in promoting green innovation. This paper not only supplements the existing literature on the factors influencing green innovation and explains the operational mechanisms and effects of environmental justice, but also provides theoretical support for promoting green innovation in practice. [ABSTRACT FROM AUTHOR]

Considering the environmental governance dilemma caused by environmental decentralization, this study aims to explore whether the strategic synergy between local and neighborhood environmental regulations can be an essential tool to improve green innovation efficiency and achieve sustainable development. Using the data of industrial firms from 2005 to 2019, and employing network slack-based measure and Tobit regression, this study provides empirical evidence that (1) the green innovation efficiency shows an upward trend in fluctuations but still has great room for improvement; (2) the direct impact of local environmental regulation on green innovation is positive, but the indirect impact through forcing firms to transfer into the neighborhood with loose regulation is negative, that is, the industrial transfer plays a suppression effect; (3) the strategic synergy of environmental regulations has U-shaped and direct effect on green innovation and also has a positive indirect effect through inhibiting the firm's behavior transferring into the neighborhood. This study reveals the influence mechanism of the strategic synergy of local-neighborhood environmental regulations and offers empirical evidence to explain the reason why synergistic environmental governance can effectively promote green innovation, which provides the theoretical guidance for government to formulate environmental policies and construct an environmental governance system. • The innovation efficiency shows an upward trend in fluctuations but has great improvement room. • The local environmental regulation significantly improves innovation efficiency. • The industrial transfer suppresses the effect of local regulation on innovation efficiency. • The strategic synergy of local-neighborhood regulations has U-shaped on innovation efficiency. • This strategic synergy also inhibits the firms' behavior transferring to neighborhood. [ABSTRACT FROM AUTHOR]

Public environmental awareness (PEA) is critical to the implementation of environmental policies by governments and product strategies by companies, however, there is less literature discussing its drivers. Environmental information disclosure (EID), as a bottom-up environmental policy, promotes public environmental management. This paper takes the Pollution Information Transparency Index (PITI) as a proxy for the degree of EID and discusses its impact on PEA. Using the PITI of 113 cities and the Baidu index-based PEA for 30 provinces from 2010 to 2019, we find a significant increase in PEA with the widening of EID, and the impacts of EID get larger as the quantile increases. Moreover, the effects of EID on PEA are amplified in areas with heavy pollution, high levels of green innovation, and stringent environmental governance capacities, but are diminished in areas with rampant corruption. The findings of this paper provide recommendations for optimizing EID implementation. • With the expansion of EID, PEA has increased significantly. • The impacts of EID on PEA are amplified in areas with high pollution, green innovation, and strict governance capacities. • The impacts of EID on PEA are diminished in areas with rampant corruption. [ABSTRACT FROM AUTHOR]

There is a broad consensus on the contribution of the so-called eco-innovations to the sustainability transition of economic activity and on the power of policy instruments to redirect innovation towards solving environmental challenges over time. However, despite remarkable academic efforts in this direction, there is a shortage of studies empirically analysing the link between environmental policy and innovation activities. Using firm-level data gathered from the Community Innovation Surveys of two specific years, 2008 and 2014, from eleven European countries, we apply a difference-in-difference approach to provide a clear-cut test of the effects of Phase III of the EU's Emissions Trading System on low-carbon innovations of energy-intensive firms. Our results suggest that environmental policy may affect firms' environmental performance by improving eco-innovating efforts. In fact, the new environmental policy not only induced an adaptive response , in which firms adjust their level of emissions to this new cost scheme, it also induced a creative response , leading companies to move outside of the range of their existing practices. [ABSTRACT FROM AUTHOR]

Uncertainty in economic policies and regulations incentivizes firms to delay investments in environmental research and developments (R&D) or postpone environmental projects that are costly to undo. A consequence of those decisions is that firms innovate less for the environment. Using 1026 U.S. firm data (equivalent to 13,241 firm-year observations) this study shows that a negative effect of policy uncertainty – a drop in environmental innovation – does not surface in the short term but in the longer term, i.e., in 5–6 years' time. The negative effect, nevertheless, dissipates after six years. These findings are of relevance to other developed countries as well as emerging countries that have a relatively higher uncertainty in their economic policies and regulations. In sum, the results call for attention from governments and regulators around the world: uncertainty in policies and regulations are detrimental to combating climate change and promoting environmental sustainability . [ABSTRACT FROM AUTHOR]

Eco-innovation is an important driving force of high-quality economic development, which can promote economic growth while also ensuring ecological benefits. However, the characteristics of public goods, as well as the dual positive externalities of eco-innovation, lead to its internal reliance on government. Using China's low-carbon city pilot policy as an example, this paper empirically examines the impact of the pilot environmental policy on urban eco-innovation. The results demonstrate that the pilot policies promote urban eco-innovation and a progressive pilot policy promotion model presents an 'experience accumulation effect' in which the effect of the second batch of pilot policies is significantly better than that of the first batch. Dynamic analysis indicates that the eco-innovation effect of the first batch of pilot policies exerts a policy lag. Specifically, the impact of pilot policies on the number of urban green invention patent application lags by approximately 2 years, whereas the impact on the number of patent applications regarding green utility models exhibit a longer lag time. Mediating mechanism analysis reveals that the pilot policy can promote eco-innovation by promoting the agglomeration of innovation factors, including investment and human capital. This paper confirms the eco-innovation effects of a pilot environmental policy model with Chinese characteristics, with significant theoretical implications. The conclusion also offers practical advice to other countries on how to implement progressive environmental governance reforms. • The eco-innovation effect of pilot environmental policy with Chinese characteristics is investigated. • The effect of experience accumulation exists in different period policies. • There is a time lag in the effect of pilot environmental policy. • Factors agglomeration plays a mediating role. [ABSTRACT FROM AUTHOR]

The development of expressway construction projects (ECPs) poses overwhelming challenges to the physical environment around the world. The challenges are supposed to be addressed with the enforcement of environmental policies (EPs). In this regard, developed countries have gained rich experience in EP formulation while developing countries are making efforts to improve policy decision-making on environmental sustainability. This study compares ECP-related EPs (EREPs) between China and the US by conducting a historical analysis with materials from 1960 to 2018 and text mining-based evaluation with materials from 2009 to 2019. The comparison results indicate that (1) an EREP framework is composed of two systems, namely outer factors and inner EPs; (2) the upper-level EPs exhibit a periodic and plan-dominating trend in China and an explanatory tendency in the US; (3) Chinese EPs are focused on pollution mitigation, whereas US EPs highlight the impacts on human health; (4) Both attach less importance to environmental protection measures at the project-level EPs. This paper provides a longitudinal comparison and analysis of EREPs in two huge countries, implying that EREPs are a snapshot of national rules and backgrounds. The findings lay a foundation for future research to examine the innovation of environmental policies, especially for those countries with massive expressway construction projects and the related environmental issues. • Comparing environmental policies (EPs) for expressway projects in China and the US. • EPs exhibit a periodic trend and are committed to controlling pollution in China. • US EPs shows an explanatory tendency and highlight the impacts on human health. • There is a lack of diversity of environmental protection measures in both countries. [ABSTRACT FROM AUTHOR]