Can the energy consumption rights trading system enhance energy resilience?–A synergistic perspective of green finance and financial technology

Bo Yang and Ya Cui

Energy, 2025, vol. 322, issue C

Abstract: Green finance and financial technology serve as powerful engines for both greening and digitizing the energy sector, offering significant application prospects. This study examines the impact of China's energy consumption rights trading system on energy resilience, utilizing a difference-in-differences model to explore the synergistic effects of green finance and financial technology. The findings reveal the following: First, the gray relational model indicates that the low-carbon index of the energy consumption structure has the greatest influence on energy resilience, while the impact of energy infrastructure is comparatively minor. Second, although China's level of energy resilience is continuously improving, significant regional disparities persist, with the largest development gap observed between the northeastern and eastern regions. Third, the energy consumption rights trading system can enhance energy resilience, and the dual support of green finance and financial technology significantly amplifies this effect. Fourth, the trading system enhances energy resilience by promoting innovation in green low-carbon technologies and digital technologies, as well as facilitating industrial structural upgrades. Finally, the impact of the energy consumption rights trading system on enhancing energy resilience is particularly pronounced in economically underdeveloped provinces, inland provinces, and regions with lower levels of marketization.

Keywords: Energy consumption rights trading system; Energy resilience; Green finance; Financial technology; Technological innovation; Industrial structural upgrades (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:322:y:2025:i:c:s0360544225012472

DOI: 10.1016/j.energy.2025.135605

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