Green technology innovation and financial development: Do environmental regulation and innovation output matter?

The goal of green finance is to pursue the coordinated development of financial activities, environmental protection, and ecological balance. This study aims to examine the impact of green finance on economic development and environmental quality. Data concerning green finance, economic development, and environmental quality for 30 provinces and municipalities in China from 2010 to 2017 are used. First, the global principal component analysis is adopted to develop a green finance development index. Second, a model of the impact of green finance on economic development is constructed, which indicates that the development of green finance plays a role in promoting economic development. Next, emissions of industrial smoke (powder) dust, industrial solid waste, and carbon dioxide are used to represent the environmental variables, and a model of the impact of green finance on environmental quality is proposed. The model shows that green finance has a positive effect on environment improvement. However, the impact of green finance on environmental quality varies for different levels of economic development. Finally, based on the theory of the environmental Kuznets curve, a model of the impact of green finance on the relationship between economic development and environmental quality is developed. The model indicates that green finance can significantly improve this relationship, creating a win-win situation regarding economic development and the environment.

Impact of green finance on economic development and environmental quality: a study based on provincial panel data from China

How financial development affects CO2 emissions: A spatial econometric analysis.

Environmental performance, green finance and green innovation: What's the long-run relationships among variables?

China is currently undergoing an important stage wherein it is adjusting its development mode and upgrading its industrial structure. Green investment has become a major driving force through which China can achieve green and sustainable development. Based on the panel data of 30 Chinese provinces for the 2006–2017 period, this paper uses a spatial Durbin model and a dynamic threshold model to empirically analyze the impact of green investment and institutional quality on environmental pollution. The research results show that China’s environmental pollution is significantly characterized by spatial dependence. Local environmental pollution is negatively impacted by green investment, but it is not affected by green investment in neighboring areas; this conclusion remains valid after a series of robustness tests. Green investment can reduce environmental pollution by improving efficiency of energy conservation and emission reduction, expanding technological innovation capabilities and upgrading the industrial structure. The regression results of the dynamic threshold model show that green investment has a nonlinear impact on environmental pollution that is dependent on institutional quality. A higher degree of regional corruption can lead to a gradual decrease in the role of green investment in reducing environmental pollution. However, improvements in marketization and intellectual property protection can increase the positive influence of green investment in reducing environmental pollution. Significant regional heterogeneity is also found in the impact of green investment on environmental pollution, and this impact gradually decreases from the eastern coast to the western region.

How Does Green Investment Affect Environmental Pollution? Evidence from China

The impact of growth, energy and financial development on environmental pollution in China: New evidence from a spatial econometric analysis

In most organic-rich shale reservoirs, dolomite is widely distributed and has different types and crystal sizes. However, the characteristics and formation mechanism of the dolomites in organic-rich shale are still poorly understood. Petrographic and geochemical analyses were performed to interpret the formation of dolomite in the lacustrine organic-rich shale of the Shahejie Formation, Dongying Sag, Bohai Bay Basin. Four types of dolomites, which represent episodic recrystallization, were classified based on crystal size and shape: 1) micritic dolomite (Dol-1), 2) sub-to euhedral (cloudy cores with clear rims) dolomite (planar-e) (Dol-2), 3) anhedral dolomite (coarse planar-s to nonplanar crystals) in phosphatic particles (Dol-3), and 4) fracture-filling anhedral dolomite (Dol-4). Dol-1 has nonplanar mosaic micritic crystals with irregular intercrystalline boundaries and dull cathodoluminescence (CL), suggesting dolomitization during the early burial stage. Dol-1 tends to occur under high paleosalinity and warm conditions. Furthermore, the syngenetic relationship, with abundant framboidal pyrite and gypsum, suggests that bacterial sulfate reduction (BSR) may influence the formation of Dol-1. The high content of Sr and low content of Mn/Sr also indicate less influence on burial. The Dol-2 crystals show cloudy cores with clear rims attributed to progressive dolomitization during burial. Dol-2 is always associated with the organic matter within the organic matter-rich lamina. The anhedral crystals and undulate (sweeping) extinction of Dol-3, which is usually encased by phosphatic particles in the organic-rich lamina, reflect the recrystallization affected by bacteria and the subsequent thermal evolution of organic matter. Dol-4 fulfills the abnormal pressure fractures crosscutting the earlier phases (Dol-1 and Dol-2) with undulate (sweeping) extinction and different rare earth element (REE) patterns. Dol-4 may be affected by hydrothermal fluids, which are influenced by the thermal evolution of organic matter. The 87Sr/86Sr values of the four types of dolomites similarly demonstrate the same dolomitizing fluids. Dol-1 to Dol-3 have similar REE patterns but are different from Dol-4, suggesting that Dol-4 likely resulted from circulation through basinal sediments instead of different fluids. Focusing on the origin of dolomite has been instrumental in understanding the diagenetic evolution, fluid flow, and organic-inorganic interactions in organic-rich shale and, hence, the reservoir formation of shale oil.

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Ziru Zhao

Papers

The impact of growth, energy and financial development on environmental pollution in China: New evidence from a spatial econometric analysis

Origin of Dolomite in Lacustrine Organic-Rich Shale: A Case Study in the Shahejie Formation of the Dongying Sag, Bohai Bay Basin