The role of green finance in energy transition: Regional variations and the moderating impact of women political participation

IF 9.2 2区经济学 Q1 ECONOMICS

Energy Policy Pub Date : 2025-08-14 DOI:10.1016/j.enpol.2025.114817

Jie Han , Wei Zhang , Xuemeng Liu , Hongyun Huang , Cem Isik

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Abstract

Using panel data from South, Southeast, and Central Asia over the period 2000–2022, this study examines how green finance impacts energy transition, with a special focus on the role of women's political participation as a moderating factor. Employing econometric and partial linear function coefficients (PLFC) models, the results show that green finance significantly promotes energy transition by enhancing digital technology innovation and improving financial resource allocation. Heterogeneity analysis reveals that the impact of green finance is stronger in regions with higher urbanization, greater foreign direct investment (FDI), larger labor forces, and more developed internet infrastructure. The study also highlights the non-linear moderating effect of women political participation on the green finance-energy transition relationship. Specifically, when women political participation is low, green finance has limited or even adverse effects on carbon emissions, while higher women participation enhances the effectiveness of green finance in reducing carbon emissions. The results highlight the importance of gender-inclusive policies in decision-making to enhance the role of green finance in driving energy transition. This study provides useful recommendations for policymakers in the region.

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绿色金融在能源转型中的作用：区域差异和妇女参政的调节作用

本研究利用2000年至2022年南亚、东南亚和中亚地区的面板数据，考察了绿色金融如何影响能源转型，并特别关注了女性政治参与作为调节因素的作用。采用计量经济模型和部分线性函数系数（PLFC）模型，结果表明绿色金融通过促进数字技术创新和改善金融资源配置，显著促进能源转型。异质性分析表明，在城市化程度高、外商直接投资（FDI）规模大、劳动力规模大、互联网基础设施发达的地区，绿色金融的影响力更强。研究还强调了女性政治参与对绿色金融-能源转型关系的非线性调节作用。具体而言，在女性参政率较低的情况下，绿色金融对碳排放的影响有限甚至不利，而女性参政率较高则增强了绿色金融减少碳排放的有效性。研究结果强调了性别包容性政策在决策中的重要性，以增强绿色金融在推动能源转型中的作用。本研究为该地区的政策制定者提供了有益的建议。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Energy Policy 管理科学-环境科学

CiteScore

17.30

自引率

5.60%

发文量

540

审稿时长

7.9 months

期刊介绍： Energy policy is the manner in which a given entity (often governmental) has decided to address issues of energy development including energy conversion, distribution and use as well as reduction of greenhouse gas emissions in order to contribute to climate change mitigation. The attributes of energy policy may include legislation, international treaties, incentives to investment, guidelines for energy conservation, taxation and other public policy techniques. Energy policy is closely related to climate change policy because totalled worldwide the energy sector emits more greenhouse gas than other sectors.