Green finance policy and enterprise energy consumption intensity: Evidence from a quasi-natural experiment in China

Zhifang Su, Qianqian Guo and Hsiang-Tai Lee

Energy Economics, 2022, vol. 115, issue C

Abstract: Taking the “Green Finance Pilot Zones Policy (GFPZP)” in China in 2017as a quasi-natural experiment, we adopt the difference-in-differences (DID) method to explore the influence of the green finance policy on the energy consumption intensity (ECI) of Chinese A-share listed enterprises. The empirical results reveal that GFPZP exhibits energy-saving effect on enterprises and the impacts of GFPZP on the ECI of enterprises are heterogeneous from perspectives of regional development, industry discrepancies, and enterprise -specific characteristics. GFPZP reduces the ECI of enterprises via both channels of green innovation and environmental governance. Our results facilitate a better understanding of the effectiveness of China's green finance policies on enterprise energy consumption.

Keywords: Green finance pilot zones policy (GFPZP); Energy consumption intensity (ECI); Green innovation; Environmental governance (search for similar items in EconPapers)
JEL-codes: G18 Q48 Q58 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:115:y:2022:i:c:s0140988322005035

DOI: 10.1016/j.eneco.2022.106374

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