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Energy Internet (EI) is typically characterized by digitalization and clean energy that seeks to revolutionize the energy system and reduce carbon emissions. Even though several scholars conclude that EI accelerates the clean energy transition of energy system, since the controversial relationship between digitalization and energy consumption in academia, current studies on the carbon emission reduction advantages of the EI are still in dispute. This paper employs the effect of EI's construction on the carbon emission peak goal of China's energy system based on the system dynamics model and different scenarios. The simulation results find that: (1) the construction of the EI could enable China's energy system to meet the carbon reduction commitment in 2028, with a carbon emission peak of 11.61 billion tons; (2) As digitalization and clean energy become more extensively employed, rising energy demand is satisfied by the manner of consuming low-carbon electricity energy. This is thought to be the primary factor that could promote China to achieve the carbon peak goal earlier than expected; (3) The advancement of digitalization has further promoted the decoupling of China's economic growth from carbon emissions. It is projected that China's energy system will still achieve the carbon peak goal by 2030 when the expected annual GDP growth rate is increased to 6.32%, 5.75%, and 4.6% for the years 2020–2025, 2026–2030, and 2031–2035, respectively. These findings might provide a new perspective for quantitative research on the environmental outcomes of the EI and the relationship between environmental improvement and economic growth. [ABSTRACT FROM AUTHOR]

Achieving the peak of carbon dioxide (CO 2) emissions requires a large amount of green and low-carbon investment. Whether the green finance system can efficiently support the capital need for achieving the CO 2 emissions target in the context of the COVID-19 epidemic is a matter of concern. This paper constructs a system dynamics model (SD model) to illustrate the quantitative relationship between the green finance system and CO 2 emissions and introduce the COVID-19 epidemic as a variable to analyze ten simulation scenarios regarding the carbon emissions commitment realization under different green finance and economic growth status. It is shown that: (1) Regardless of the impact of COVID-19, China can meet its commitment by reaching its CO 2 emissions peak in 2030 and realizing a 20% non-fossil energy proportion in 2025; (2) Under the impact of the epidemic, the goal can not be obtained in all energy consumption scenarios when the government expenditure on the environment is low. The target year of reaching CO 2 emissions peak becomes 2033, 2037, and 2040. The results indicate that reducing government expenditure on environment protection makes the CO 2 emissions peak target less likely to be achieved within a given time frame. We also concluded with important policy implications according to the result of the simulations. Overall, this study makes a reference for other economies and researchers to quantitatively predict the interaction relationship between the green finance system and CO 2 emissions in the context of COVID-19, which provides policymakers with insights into a joint power of energy consumption upgrading and green capital guidance. • Providing empirical studies regarding the mechanism of the inhibitory effect of green finance on CO 2 emissions. • Using systems dynamics model to address the missing data problem. • Making solid suggestions under COVID-19 Epidemic. • Building the relationship between the green finance system and CO 2 emissions and making forecasts for "3060" mission result. [ABSTRACT FROM AUTHOR]