{"title":"Greener Together or Carbon Leakage? What Regional Effect Can Green Credit Policy Bring","authors":"Zengram Yuanzhen Zheng, Chenghao Men","doi":"10.1002/app5.70019","DOIUrl":null,"url":null,"abstract":"<p>Motivated by global environmental challenges, China introduced a green credit policy to achieve carbon peaking and carbon neutrality goals. This study examines the regional effects of the green credit policy using a difference-in-differences model. The results reveal significant local and regional carbon emissions reduction effects, along with negative outcomes for exports. The mediating analysis reveals that green credit policy drives regional decarbonisation by fostering green innovation. The internal firm characteristics (geographic location and ownership) and the external environment (financial technology development and government service capability) significantly moderate the policy’s impact. Additionally, the green credit policy has local and regional employment reduction effects. Green innovations mediate the reduction in employment, whereas a shift in labour from SOEs to low-pollution nonSOEs occurs.</p>","PeriodicalId":45839,"journal":{"name":"Asia & the Pacific Policy Studies","volume":"12 2","pages":""},"PeriodicalIF":1.4000,"publicationDate":"2025-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/app5.70019","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asia & the Pacific Policy Studies","FirstCategoryId":"90","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/app5.70019","RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"AREA STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
Motivated by global environmental challenges, China introduced a green credit policy to achieve carbon peaking and carbon neutrality goals. This study examines the regional effects of the green credit policy using a difference-in-differences model. The results reveal significant local and regional carbon emissions reduction effects, along with negative outcomes for exports. The mediating analysis reveals that green credit policy drives regional decarbonisation by fostering green innovation. The internal firm characteristics (geographic location and ownership) and the external environment (financial technology development and government service capability) significantly moderate the policy’s impact. Additionally, the green credit policy has local and regional employment reduction effects. Green innovations mediate the reduction in employment, whereas a shift in labour from SOEs to low-pollution nonSOEs occurs.
期刊介绍：
Asia & the Pacific Policy Studies is the flagship journal of the Crawford School of Public Policy at The Australian National University. It is a peer-reviewed journal that targets research in policy studies in Australia, Asia and the Pacific, across a discipline focus that includes economics, political science, governance, development and the environment. Specific themes of recent interest include health and education, aid, migration, inequality, poverty reduction, energy, climate and the environment, food policy, public administration, the role of the private sector in public policy, trade, foreign policy, natural resource management and development policy. Papers on a range of topics that speak to various disciplines, the region and policy makers are encouraged. The goal of the journal is to break down barriers across disciplines, and generate policy impact. Submissions will be reviewed on the basis of content, policy relevance and readability.
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