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Carbon neutrality is an important policy in the current global response to climate change and has been widely recognized by various industries. In the process of promoting carbon neutrality, new energy plays a pivotal role. In this study, the definition and connotation of new energy and its role and specific operation in the energy transition of carbon neutrality are firstly explained. Promoting new energy development requires significant green and low-carbon investments. Taking China as an example, this paper analyzes the opportunities brought by the carbon neutral process to the field of green finance and analyzes the main features and development trends of green finance in China at present. Then this paper proposes policy recommendations to strengthen the development of green finance in China in terms of improving the green financial policy system, enhancing the supply capacity of green financial services, and optimizing the supporting environment for green financial development. Finally, this paper analyzes the measures and experiences of the United States in promoting low-carbon development and proposes countermeasures for China's low-carbon development on the basis of the five major relationships that need attention in China's carbon-neutral process. That is, strengthen the top-level design and improve the regulatory policy system; optimize the energy structure and increase the proportion of clean energy; optimize the industrial structure and reduce energy consumption in key industries; build a complete low-carbon technology system and promote low-carbon technology research and development and demonstration applications, and encourage local conditions to explore low-carbon development paths. The development of green finance can contribute to the advancement of new energy technologies, thus contributing to the achievement of carbon neutrality goals. [ABSTRACT FROM AUTHOR]

Green growth has become an increasingly important paradigm for sustainable economic growth, resource development, and environmental protection. As the main focus in energy led green growth is a move away from fossil energy to clean energy, sustainable green growth resource development needs to measure both energy and environmental efficiencies. As the largest global energy consumer and carbon emitter, China has had to deal with serious energy and environmental issues in recent years, with its regional green growth performances being poorly assessed. Therefore, green growth clean energy-environmental efficiency assessments were examined in this paper, for which an integrated principal component analysis-data envelopment analysis based analysis approach was developed. It was found that while China's green growth has had a significant increasing trend in recent years, overall it was still at a low level, with the imbalances in China's regional economic development being reflected in its green growth. However, the excellent development and utilization of clean energy in most regions have significantly promoted a continuous improvement in China's green growth and the move toward sustainable resource development and utilization is contributing to long-term green growth. Green growth has also placed new demands on sustainable resource development in China. Therefore, underdeveloped regions that have sustainable resource endowments need to develop industrial systems that have clean energy as the main axis, and developed regions need to develop high-end industries that have low energy consumption and encourage mutual support systems between regions to ensure optimal sustainable resource, green growth development patterns. [ABSTRACT FROM AUTHOR]

The trade-off between economic growth and ecological improvement has always become an important and difficult issue for many countries, especially for developing countries. Due to a long-term extensive economic growth pattern, the regional resource allocation deviates from the optimal, especially the existence of energy misallocation, which hinders the maximization of economic output. Therefore, considering the characteristics and heterogeneity of resource endowments in different regions and increasing renewable energy consumption, that is, promoting energy transition, is it capable of sustainable development under China's actual conditions? The exploration of the issue is a core step in the research of the impact of renewable energy on industrial green transformation. Based on the panel data of 30 regions in China from 2009 to 2016, this paper constructs a threshold model from the perspective of regional energy misallocation and empirically tests the nonlinear mechanism of renewable energy consumption to promote industrial green transformation. The results show that China's energy allocation efficiency is low, there is a certain misallocation phenomenon, and the improvement effect in recent years is not satisfactory. Further, the relationship between renewable energy consumption and industrial green transformation is not a simple linear relationship, but a double threshold effect due to regional energy misallocation. In areas with severe energy misallocation, renewable energy consumption does not have a significant boost to industrial green transformation. Finally, this paper proposes the policy enlightenment of promoting industrial green transformation from the aspects of performance evaluation, market reform, and factor flow. [ABSTRACT FROM AUTHOR]

• We measure the green growth degree of China's industrial sectors by considering the constraint of total energy consumption. • We proposed a new common equilibrium efficient frontier, which considers each DMU's own adjustment strategy on fixed-sum energy input. • The proposed approaches are applied to analyze the green growth and energy and environmental efficiency of 36 of China's industrial sectors. Tight energy constraints and severe environmental pollution are two main problems affecting economic growth and sustainable development. As an important economic growth mode, green growth seeks to achieve both economic growth and environmental sustainability. Previous studies on the efficiency evaluation of green growth ignored fixed-sum energy consumption; this is a significant omission because this constraint is general in China: the government has set targets to reduce energy consumption by 20% and 16% per unit of GDP during its the eleventh (2006-2010) and twelfth (2011-2015) five-year plans. To fill this gap, we propose a new data envelopment analysis (DEA) model to analyze the green growth degree of China's industrial sectors. The proposed DEA model considers the constraint of total energy consumption in order to conform to the policy of energy and emission reduction. Previous theoretical studies on fixed-sum output construct the common equilibrium efficient frontier (CEEF) only by considering the minimal reduction strategy for the fixed-sum output of all decision making units (DMUs), while ignoring each DMU's adjustment strategy for fixed-sum input/output. In this paper, we construct a new CEEF by considering each industrial sector's adjustment of energy consumption. The new CEEF not only guides the industrial sectors to alter their energy consumption structure to achieve green growth but also allows a more accurate evaluation of the energy and environmental efficiency (EEE) of industrial sectors. Last, our proposed model is applied to analyze the green growth and EEE of 36 of China's industrial sectors. [ABSTRACT FROM AUTHOR]