The Impact of Green Finance Development on China’s Energy Structure Optimization

• Published in: Discrete dynamics in nature and society Vol. 2021; pp. 1 - 12
• Main Authors: Wang, Hui, Jiang, Lili, Duan, Hongjun, Wang, Yifeng, Jiang, Yichen, Lin, Xiaoken
• Format: Journal Article
• Language: English
• Published: New York Hindawi 30-12-2021; John Wiley & Sons, Inc; Hindawi Limited
• Subjects: Alternative energy sources; Carbon dioxide; Clean energy; Climate change; Economic development; Economic growth; Emissions; Energy consumption; Energy industry; Environmental impact; Environmental protection; Finance; Financial instruments; Financial services; Green technology; Greenhouse gases; Innovations; Interdisciplinary subjects; Optimization; Pollution; Regression; Renewable energy; Renewable resources; Sustainable development; China; Brazil; Germany
• ISSN: 1026-0226; 1607-887X
• DOI: 10.1155/2021/2633021

This paper studies the impact of the development of green finance on China’s energy consumption structure. 17 basic indexes and the improved entropy weight method are used to construct the green finance index (GFI). Multiple regression, panel regression, and spatial regression are used to study the impact of green finance on China’s traditional energy and renewable energy consumption. The results show that there is a positive spatial spillover effect in the development of green finance among provinces in China. The development of green finance contributes to the conversion of traditional to renewable energy consumption. The effect of green finance on the transformation of energy consumption structure is mainly reflected in the direct effect. The green finance in each province not only helps the local development of green energy but also plays a good role in the production and utilization of clean energy consumption in surrounding provinces. Therefore, the government should support the green finance, reduce traditional energy consumption, and increase renewable energy consumption.