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Green credit is an important financial tool to promote the transformation of the low-carbon economy. On the basis of clarifying the theoretical mechanism of the impact of green credit on carbon emission reduction, this paper used the fixed effect stochastic frontier model containing unexpected output to measure the total factor carbon productivity of 156 cities in China from 2000 to 2019 and empirically tested the carbon emission reduction effect of green credit and its mechanism from the three dimensions of productivity, intensity, and total amount. The research found that: ① Green credit development significantly improved total factor carbon productivity and reduced carbon emission intensity, but the average impact on total carbon emissions was not significant. The above conclusions were still valid after a series of robustness tests and treatments of endogeneity problems. ② The carbon emission reduction effect of green credit was heterogeneous due to differences in regional location, resource endowment, and financial efficiency. In the central region, non-resource-based cities, and cities with higher financial efficiency, green credit had significant carbon reduction effects in both carbon productivity and carbon intensity dimensions, while green credit in the eastern region, resource-based cities, and cities with lower financial efficiency only reduced carbon intensity. ③ The stimulation of green innovation and the reduction of energy intensity were the most effective channels for green credit to reduce carbon emissions, whereas the mediating effect of the structural transformation channel was not yet significant. Green credit was more effective in promoting green innovation and generating positive spillovers in the green innovation channel. However, green credits were more effective in improving carbon emission efficiency in the energy intensity channel, but the role of supporting low-carbon technologies must be enhanced. ④ Environmental regulations had two moderating mechanisms, 'positive compensation' and 'negative offset,' for the carbon reduction effect of green credit. When the demand and supply of financial resources were low, strengthening environmental regulations would weaken the incentive effect of green credit on low-carbon economic transformation. The above conclusion not only provides a new research perspective and supplementary empirical evidence for understanding the environmental effects of green credit, but also provides a useful reference for further improving green credit policies and promoting the development of a low-carbon economy. [ABSTRACT FROM AUTHOR]

Saving energy resources and reducing energy intensity are crucial to promoting China' s major strategic goals of reaching peak carbon emissions and achieving carbon neutrality, and are hence key to the promotion of green transformation and development in the new development stage. As an important practice, the policy of establishing pilot zones for green finance reform and innovations in China aims to promote green finance reform in depth, construct ecological civilization, and realize green economic transformation. Can the policy reduce energy intensity and contribute to energy conservation? What is its impact mechanism? There is a shortage of systematic analysis in academia on these issues. With panel data from Chinese cities from 2007 to 2020 and a generalized synthetic control method, this paper evaluated how the establishment of pilot zones for green finance reform and innovations affected energy intensity and analyzed its impact mechanisms. The results showed that: ① The implementation of the policy significantly reduced the energy intensity of the pilot zones, and the energy-saving effect exhibited 'policy first' and timeliness characteristics. ② The policy-induced energysaving effect was achieved by improving green innovation, easing financing constraints, optimizing industrial structure, and strengthening environmental governance. ③ The policy' s energy-saving effect was more remarkable in areas with better marketization and a higher education level. The findings suggest that the government should fully consider the differences in aspects such as institutional environment and resource endowment among varying regions, design distinct measures to attract more market players to participate in the green finance system oriented by energy efficiency improvement, energy structure transformation, and environmental governance, and create a much better market-oriented environment for green innovation and corporate financing. [ABSTRACT FROM AUTHOR]

Developing countries have encountered the issues of economic development and reducing pollution that need to be resolved to achieve sustainable development. However, this topic has not been widely explored. Since obtaining sustainable economic development is a priority, the nexus between foreign direct investment (FDI), trade openness (TO), final energy consumption (FEC), capital (K), income, and pollution (carbon emission) has been investigated in this paper. The research questions deal with the existence of the long-run, short-run and causality relationship between the selected variables. The paper aims to investigate these relations in Serbia during 1995-2018 by applying the autoregressive distributed lag model as the most commonly used and suitable co-integration model. The results present that FDI and TO will increase gross domestic product (GDP), while pollution will decrease it in the long-run. The existence of a short-run causality from FDI and TO to GDP is confirmed. The Granger causality test reveals that FDI has a unidirectional relationship to GDP, carbon emission, TO, and FEC. Furthermore, GDP, carbon emission and FEC have a unidirectional relation to TO. These results indicate that policies should combine FDI promotion and TO, with supervision of FDI effects on carbon emission to obtain sustainable economic development. [ABSTRACT FROM AUTHOR]

The EU has committed to make Europe the first climate-neutral continent by 2050. Reaching this objective requires massive changes in the region. The biggest challenge is that the green transition happens without sacrificing economic progress and guaranteeing justice and inclusiveness. This pledge implies that every country be capable of addressing the trade-offs between targets while remaining committed towards the common decarbonisation goal. Our paper analyses the success with which countries are carrying out the energy transition. We propose an enhanced hyperbolic distance function and a stochastic frontier analysis approach to model the joint attainment of economic development, environmental sustainability, and energy equity. We apply our model to an unbalanced panel dataset of 29 European countries for the period 2005–2018. Our estimates show that the average performance of the economies has improved over time. The results also highlight the pivotal role of a sustainable economic development with clean energies for both slashing CO 2 emissions and fostering energy equity. Moreover, we find convergence in countries' performance, being this convergence slightly higher for the EU-15 countries compared to the rest. Finally, we show that a higher share of renewable energy sources helps countries that are lagging behind to reach their optimal performance level. [ABSTRACT FROM AUTHOR]

In today's world, where economic development and environmental sustainability are becoming increasingly important aspects of national strategy, attention to the impact of different economic sectors on climate change is becoming an integral part of scientific research. This article focuses on analyzing the impact of primary and secondary economic sectors development on carbon dioxide (CO 2) emissions at the sub-national level in Russia from 2005 to 2019. The aim of the study is to provide an in-depth understanding of the relationships between the dynamics of these sectors and CO 2 emission levels in different regions of the country. Weighted regression and panel data methods were applied to better identify the patterns of the impact. The results show that the size of population and electricity consumption have the highest impact on CO 2 emissions. So that, the expansion of nuclear and gas generation capacity, as well as significant improvement of energy efficiency, are of crucial importance to reduce the emissions. Other sectors have a heterogeneous impact and requires more differential approaches, considering the specifics of regions. Taking into account the significant differences between the Russian constituent entities, this paper emphasizes the low informativeness of assessments at the national level and their inadequacy in terms of improving the efficiency of domestic management, including decarbonization policies. • The impact of considered economic sectors on CO 2 emissions were analyzed in 80 Russian constituent entities in 2005–2019. • Weighted regression and panel data methods were used to catch the specifics of Federal districts and constituent entities. • Population size and electricity consumption have the highest impact on CO 2 emissions. • Increasing energy efficiency and modernization of energy facilities are the most promising solutions to reduce the emissions. [ABSTRACT FROM AUTHOR]

The modern logistics industry in relation to economic growth and carbon emission has opened new strategic perspectives. Recent research work have analyzed such complex interference from a broad perspective. However, analyzing this overlap needs comprehensive insight into the logistics industry while simultaneously estimating its short-run and long-run effects from regional aspects due to continue-evolving factors and their impact on it. This paper competently analyzes logistics industry components in connection with economic prosperity, energy consumption, trade development, and carbon emission from a more specific regional perspective of a developing country. Methodologically, an autoregressive distributive lag model (ARDL) is employed using correlative evaluation of the dynamic factors and their interactive impact in short and long run on this relation, based on time-series data of Pakistan from 1990 to 2019. The study results endorse the previous studies' outcomes by recognizing that an increase in carbon emission depends on trade development, energy usage, economic development, and the logistics industry's various components except for air logistics. However, study results show a unidirectional long-run causality directing from economic development, logistics industry, energy utilization, and trade development to carbon emission. Moreover, these results reveal that this emission is the leading factor to introduce stringent emission standards that further overlap with regional demographics trends, i.e., carbon emission implications. These findings imply that economic development applies a substantial demand-pull impact on national logistics, i.e., regional economic development directs to the growth of the logistics industry in the corresponding region. Consequently, high-income geographical regions have higher long-run risk concerning contemporary developmental activities of the logistics industry when adhering to carbon emission standards. Particularly, the influence of upcoming emission standards must be prioritized when planning the future returns of contemporary research and development activities of the logistics industry in a given geographic area, such as CPEC. Given Pakistan's perspective, the proposed empirical analysis can be exampled to other developing countries. This analysis may facilitate the design and development of strategies for upcoming financial funding in the modern logistics industry to seek its sustainable development-goals in developing economies. [ABSTRACT FROM AUTHOR]