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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]

To mitigate climate change and achieve sustainable development, Chinese governments have introduced "1+N" "dual-carbon" policy system aimed at reducing CO 2 emissions, transforming energy structures and controlling pollution. An effective policy mix and synergy is crucial for achieving the emission reduction targets and for ensuring the effectiveness of the policies, and it is therefore of great practical importance to provide a pathway for policy synergy based on assessing policy effectiveness. This paper selects three policies, namely the carbon Emission Trading System (ETS), Coal Control and Clean Utilization (CCCU), and Green Financial Reform and Innovation Pilot Zone (GFPZ), sets up ten scenarios, adopts difference-in-differences (DID) models to evaluate the impact, and give a pathway for policy synergy. The results show that ETS, CCCU, and GFPZ policies have significant positive effects on carbon emission reduction, energy structure transformation, and industrial environmental pollution control, respectively; CCCU has synergistic effects with ETS and GFPZ policies in controlling coal consumption and increasing the completion of industrial pollution control investments, respectively; while GFPZ policies have conflicting effects with CCCU and ETS in reducing carbon emissions and coal consumption, the GFPZ policy has conflicting effects with CCCU and ETS in reducing carbon emissions and controlling coal consumption. Finally, the study proposes a phased policy support system around carbon emission reduction in the power generation industry, energy structure transformation, and industrial environmental pollution control before 2030 and from 2030 to 2060. [ABSTRACT FROM AUTHOR]

Green bonds have increasingly been utilized around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors, while mitigating climate change. However, the efficacy of green bond arranged in the emerging economies for financing renewable energy assets and how the underlying risks are managed have remained to be explored. The paper aims to examine the evolving green financial system sponsored by both public and private institutions in managing such risks within China's emerging economy. A case study of green financing for a bundle of wind power assets led by a state-owned enterprise (SOE) reveals an alternative approach by structuring public–private collaboration while stipulating market-based financial incentives to institutional stakeholders under a political economy. This institutional consortium is composed of a state development bank, a commercial bank, credit rating agencies, institutional and private investors, regional power purchasers, and carbon trading entities. Financial stakeholders' risk in such emerging sustainable investment is moderated by these participating institutions and structured "upsides" from carbon trading aligned with the framework of green finance and standards for green bond development. The results reveal the potentials of scaling up the development of renewable energy by adequately managing and sharing key risks, while allocating substantial funding into renewable energy projects under such a green financial system that is to be complementary with a scalable post COVID-19 economic recovery. [ABSTRACT FROM AUTHOR]