Heliyon (Sep 2024)
Role of green finance, green bonds, public private partnership, and technology innovation in carbon neutrality and sustainable development
Abstract
In recent years, global attention has increasingly turned towards the urgent goal of eliminating carbon emissions. Evaluating new methods may be the key to achieving environmentally responsible growth. This study examines the impact of China's public-private energy partnerships on CO2 emissions from 1990Q1 to 2022Q4, employing Dynamic Ordinary Least Squares (DOLS) and fuzzy multi-objective least squares (FMOLS) econometric regression methods. Our analysis incorporates sustainability efforts, renewable energy sources, environmentally sound finance, and technological advancements to provide a comprehensive understanding of CO2 emissions dynamics. Our findings reveal that expanding access to credit has facilitated the development of green financing, resulting in a favorable environmental impact of China's economic growth and public-private partnerships. The reduction in carbon dioxide emissions is counter balanced by the positive effects of technological progress, increased utilization of renewable energy sources, and enhanced power efficiency. We highlight the multiplying effect of these factors, underscoring the need for global public-private collaborations in the energy sector to significantly lower carbon emissions and to achieve sustainable development goals. We assert that policymakers tasked with facilitating China's transition to renewable energy sources must prioritize environmental preservation, technological advancement, and the optimal utilization of renewable resources to achieve lasting sustainability.
