Carbon co-benefits of digital economy and green finance: empirical evidence from China.

IF 3.9 3区 环境科学与生态学 Q2 ENVIRONMENTAL SCIENCES
Yayun Ren, Xiaohang Xu, Yantuan Yu, Zhenhua Zhang
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引用次数: 0

Abstract

Addressing the carbon co-benefits of policy tools requires simultaneous improvements in both the quantity and quality of carbon abatement to achieve long-term sustainability and equity. Driven by digital technologies and bolstered by green capital, the combination of the digital economy and green finance (DEGF) establishes an effective mechanism for attaining sustainable development goals. Treating the coordinated implementation of the National Big Data Comprehensive Pilot Zones (NBDCPZ) and Green Finance Reform and Innovation Pilot Zones (GFRIPZ) policies in China as a quasi-natural experiment, we identify the carbon co-benefits of DEGF using the Synthetic Control Method with penalized regression technique. Empirical findings show that DEGF significantly promotes simultaneous improvements in both the quantity and quality of carbon mitigation. These findings are robust across various validation tests, including time-placebo test, alternative model specification, and double machine learning algorithms. According to mechanisms analysis, improving green technological innovation and human capital level are the main channels that DEGF produces carbon co-benefits. The study provides China and other emerging economies seeking to promote sustainable development through digital-green integration with policy-relevant implications.

数字经济与绿色金融的碳协同效益:来自中国的经验证据。
解决政策工具的碳协同效益需要同时提高碳减排的数量和质量,以实现长期可持续性和公平性。数字经济与绿色金融的结合以数字技术为驱动,以绿色资本为支撑,为实现可持续发展目标建立了有效机制。将中国国家大数据综合试验区(NBDCPZ)和绿色金融改革创新试验区(GFRIPZ)政策的协调实施作为准自然实验,采用惩罚回归技术的综合控制方法确定了DEGF的碳协同效益。实证结果表明,DEGF显著促进了碳减排数量和质量的同步提高。这些发现在各种验证测试中都是稳健的,包括时间安慰剂测试、替代模型规范和双机器学习算法。机制分析表明,绿色技术创新和人力资本水平的提高是DEGF产生碳协同效益的主要渠道。该研究为中国和其他新兴经济体寻求通过数字绿色融合促进可持续发展提供了与政策相关的启示。
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来源期刊
Carbon Balance and Management
Carbon Balance and Management Environmental Science-Management, Monitoring, Policy and Law
CiteScore
7.60
自引率
0.00%
发文量
17
审稿时长
14 weeks
期刊介绍: Carbon Balance and Management is an open access, peer-reviewed online journal that encompasses all aspects of research aimed at developing a comprehensive policy relevant to the understanding of the global carbon cycle. The global carbon cycle involves important couplings between climate, atmospheric CO2 and the terrestrial and oceanic biospheres. The current transformation of the carbon cycle due to changes in climate and atmospheric composition is widely recognized as potentially dangerous for the biosphere and for the well-being of humankind, and therefore monitoring, understanding and predicting the evolution of the carbon cycle in the context of the whole biosphere (both terrestrial and marine) is a challenge to the scientific community. This demands interdisciplinary research and new approaches for studying geographical and temporal distributions of carbon pools and fluxes, control and feedback mechanisms of the carbon-climate system, points of intervention and windows of opportunity for managing the carbon-climate-human system. Carbon Balance and Management is a medium for researchers in the field to convey the results of their research across disciplinary boundaries. Through this dissemination of research, the journal aims to support the work of the Intergovernmental Panel for Climate Change (IPCC) and to provide governmental and non-governmental organizations with instantaneous access to continually emerging knowledge, including paradigm shifts and consensual views.
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