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As a traditional energy and carbon intensive sector, it becomes imperative for the global paper industry to realize green development. This paper aims to provide guidance for the green transformation of global paper industry by evaluating the global paper industry green development level in a systematic and dynamic way. This paper employs text-mining method to develop paper industry green development evaluation indicator system and adopts market-extended LCA model and entropy-TOPSIS method to calculate the paper industry green development level of 48 countries/regions. The results show that during 2000–2030 the paper industry green development level of developing countries improves faster than developed countries, where those of developing and developed countries increase from 0.3369 to 0.3938 and from 0.5120 to 0.5517 respectively and the gap between them narrows from 0.1751 to 0.1579. The comparative analysis reveals that the paper industries of developed and developing countries are in different green development stages. Developing countries, represented by China, improve greatly in economic and social dimensions, but decline seriously in ecological dimension due to enlarging resource consumption and environmental damages. On the contrary, developed countries tend to saturate in economic and social dimensions and have been improving fast in ecological dimension, gradually realizing the decoupling of industrial economic development and environmental damages. To further promote the global paper industry green development, developing countries should focus on promoting the coordinated development between economic growth and environment protection and developed countries should play a leading role in the global green transformation by promoting optimal allocation of resources and cross-regional communications of green technologies. • A paper industry green development indicator system is developed based on text mining. • A global paper industry green development model is built with market-extended LCA. • Complex interactions among the indicators are internalized in the evaluation. • A spatial-temporal analysis is performed on global paper industry green development level. [ABSTRACT FROM AUTHOR]

As a traditional energy and carbon intensive sector, it becomes imperative for the global paper industry to realize green development. This paper aims to provide guidance for the green transformation of global paper industry by evaluating the global paper industry green development level in a systematic and dynamic way. This paper employs text-mining method to develop paper industry green development evaluation indicator system and adopts market-extended LCA model and entropy-TOPSIS method to calculate the paper industry green development level of 48 countries/regions. The results show that during 2000–2030 the paper industry green development level of developing countries improves faster than developed countries, where those of developing and developed countries increase from 0.3369 to 0.3938 and from 0.5120 to 0.5517 respectively and the gap between them narrows from 0.1751 to 0.1579. The comparative analysis reveals that the paper industries of developed and developing countries are in different green development stages. Developing countries, represented by China, improve greatly in economic and social dimensions, but decline seriously in ecological dimension due to enlarging resource consumption and environmental damages. On the contrary, developed countries tend to saturate in economic and social dimensions and have been improving fast in ecological dimension, gradually realizing the decoupling of industrial economic development and environmental damages. To further promote the global paper industry green development, developing countries should focus on promoting the coordinated development between economic growth and environment protection and developed countries should play a leading role in the global green transformation by promoting optimal allocation of resources and cross-regional communications of green technologies. • A paper industry green development indicator system is developed based on text mining. • A global paper industry green development model is built with market-extended LCA. • Complex interactions among the indicators are internalized in the evaluation. • A spatial-temporal analysis is performed on global paper industry green development level. [ABSTRACT FROM AUTHOR]

Environmental protection and sustainable development are now profoundly ingrained in the public consciousness in the modern era of the global green revolution. First, this paper uses an evolutionary game model to theoretically analyse the impact of environmental regulation and green finance on enterprises by dissecting the game behaviour between local governments, banks and enterprises. Then, we incorporate entrepreneurial spirit into the model to determine whether entrepreneurial spirit accelerates the achievement of green sustainability objectives. Environmental regulation and green finance are found to contribute substantially to the innovation of green technologies by local enterprises, while entrepreneurial spirit accelerates this process. Finally, we empirically test the findings based on a prefecture-level panel dataset from 2007 to 2020. We find that green finance has a positive impact in Central and Western cities of China, while Eastern cities are in greater need for government environmental regulation controls. For entrepreneurial spirit, the incentive effect of entrepreneurial spirit on the level of green technology innovation is more significant in Central and Western regions of China. This paper enriches the field of research on entrepreneurial spirit and regional green sustainable development by providing empirical evidence for the evaluation of environmental regulatory and green financing policy impacts. [ABSTRACT FROM AUTHOR]

Emerging industries and technologies are made up of objective, practical requirements and ideas that encompass broad hopes for what future newness might enable. The bioeconomy is one such emerging industry. Its recent evolution has involved a complicated and dynamic mix of promises, reality checks and subsequent ambivalences. This article frames and investigates the emerging algae-based bioplastics industry as one niche within this broader system envisaged for social, technological, economic, political and ecological change. As such, our paper presents two categories of knowledge that in practice interrelate: 1) specific and practical recommendations that can assist a future algal-based bioplastics industry to develop in Australia in ways that are conscious of socio-ecological and socio-cultural dimensions, and 2) critical extensions that go beyond the attributes of newness, impact, suddenness and universality often emphasised in both popular and scientific research into emerging green technologies. In particular, our analysis highlights the importance of specific temporal, tonal and spatial factors when framing the contextual factors associated emerging industries, technologies and the different pathways for change they might help support. • Pathways and enabling factors for a algal-based bioplastics industry in regional Australia are presented. • The 'social idea' of the bioeconomy is analysed with reference to algal-based bioplastics. • The algal-based bioplastics industry is contextualised in relation to transition pathways literatureon the bioeconomy. • Themes and recommendations are synthesised from literature review and semi-structured interviews. [ABSTRACT FROM AUTHOR]

• Pilot Free Trade Zones (PFTZ) can promote green technology innovation efficiency. • Providing reference for developing countries to develop green economy. • Proposing a more holistic index system of green technology innovation efficiency. • The impact of PFTZ exhibits significant spatial heterogeneity. • Market potential affects the green effect of PFTZ. The Pilot Free Trade Zone (PFTZ) policy represents a significant step in China's institutional innovation and broader opening-up, crucial for fostering green and high-quality economic growth. The existing literature has conducted in-depth studies on the economic effects, energy conservation, emission reduction and green innovation of PFTZs, but the effect on green technology innovation efficiency (GTIE) remains underexplored. Institutional innovation in the PFTZs will profoundly affect regional green development, and green innovation, and will certainly affect the regional GTIE. Based on this, this paper uses the city-level data of prefecture-level cities in China from 2005 to 2020 to empirically test the impact of PFTZ establishment on GTIE. First, the Super-SBM model was applied to evaluate the GTIE across 281 Chinese cities. Then, taking the establishment of PFTZs as a quasi-natural experiment, the multi-stage differentially differential model is constructed to empirically assess PFTZ policy's impact on GTIE. The findings indicate that PFTZs can significantly enhance the GTIE. This improvement is facilitated through four pathways: the digital economy, the high-tech industries agglomeration, innovation agglomeration, and talent agglomeration. The results offer strategies for balancing external openness with environmental protection in developing countries and furnish empirical support for creating high-quality development frameworks. [ABSTRACT FROM AUTHOR]

In the digital era, digitalization brings great opportunities and challenges for cities' environmental governance and economic growth. However, it is worth noting that the impact of digitalization on cities' green transition has not been studied from the perspective of Metcalfe's Law. This paper uses the principal component method and non-radial directional distance function (NDDF) to calculate the digital development level and the green economic performance of 269 Chinese cities from 2003 to 2019. (1) The empirical findings demonstrate that digitalization has become a strong driver for cities' green economic transformation. (2) Digitalization indirectly promotes green transition through industrial structure optimization and green technological innovation. (3) The heterogeneity results show that the positive effect of digitalization on green development is more obvious in eastern and economically developed cities. (4) Using the partially linear functional-coefficient model (PLFC), this paper studies the non-linear nexus between digitalization and green economic transition from the perspective of Metcalfe's Law. Thus, Metcalfe's law is confirmed in the green transition of Chinese cities. Some policy recommendations are offered for realizing the coordinated development of digitalization and greening of the urban economy. [ABSTRACT FROM AUTHOR]

In this paper we investigate the relationship between participation in global value chains and the environment from a spatial perspective. By drawing on an original dataset on global value chain participation, emissions of nitrogen oxides and sulphur oxides, and green patents for European regions, we present novel evidence about the relationship between global value chains, green technologies and air pollution at the regional level. Our findings suggest that although participation in global value chains may lead to lower polluting emissions, this effect largely depends on the capacity of regions to exploit the green knowledge deriving from participation and on the specific form of participation. When European regions are integrated with backward linkages (i.e., importing inputs to produce exports) they record lower levels of air pollution; conversely, participation through forward linkages (i.e., exporting inputs for other places' exports) leads to an increase in air pollution. Backward participation also come out to support the development of green technologies that mediate the effects of global value chains on the environment posited by the "Pollution Haven" hypothesis. Overall, the relationship between global value chains participation and air pollution will depend on the type of participation and on the capacity of territories to profit it for the development of green technologies. • Our research provides new evidence on the relationship between Global Value Chains (GVCs) and the environment by using an original dataset on EU NUTS-2 regions. • GVC integration may lead to lower polluting emissions. This effect largely depends on the green knowledge deriving from GVC participation. • Regions integrated through backward linkages record lower levels of polluting emissions and higher capacities to develop green technologies. • Integration through forward linkages is associated with higher level of polluting emissions but not with green technologies. • We propose a Technological Heaven Hypothesis for EU regions that would contrast the Pollution Haven Hypothesis. [ABSTRACT FROM AUTHOR]

Promoting industrial digitalization and deepening regional collaborative innovation is essential for achieving urban green and sustainable development. This paper constructs a differential game model based on theoretical analysis and reveals the influence mechanism of industrial digitalization and regional collaborative innovation on urban green development efficiency (GDE). After that, this paper uses the entropy method, Super-SBM model, and improved gravity model to measure the level of industrial digitalization, urban GDE, and regional collaborative innovation, respectively. Then, this paper constructs the fixed-effects model, SDM model, moderating-effects model, and threshold model, then uses the panel data of the Beijing-Tianjin-Hebei (BTH) urban agglomeration during 2011–2020 for empirical testing. The results show that: (1) industrial digitalization significantly improves urban GDE. (2) Overall, 2011–2015 is the rapid development period of BTH industry digitalization, and 2015–2020 is its stable development period. However, there are apparent spatial differences and imbalances. (3) Industrial digitalization has a significant spatial spillover effect that can enhance local and surrounding cities' GDE. (4) Regional collaborative innovation can directly enhance urban GDE, and has a positive moderating effect on industrial digitalization to enhance urban GDE. (5) The regional collaborative innovation has two thresholds of 3.9851 and 6.6184. With the collaborative innovation level improving, the main effect intensity steadily increases. [ABSTRACT FROM AUTHOR]

In this paper, we suggest how India can become atmanirbhar (i.e. self-reliant) in development of green energy technologies- solar, battery storage and green hydrogen, given its stated commitments in clean energy. First, we introduce a generalized policy design – a set of ten policy measures: seven necessary and three sufficient- with the former being on the supply side and the latter on the demand side. The paper argues that while the ideal policy mix would be technology dependent, based on technology maturity and the strategic positioning of the country, it should draw both from supply side (i.e., for domestic development) and demand side (i.e., for scale deployment). Then, we suggest the required individual strategies for each of the three technologies- such as a manufacturing focused policy for solar solely to develop competence in manufacturing; a bottom-up, manufacturing-led policy for battery storage with focus on deployment in parallel with technology development; and traditional top-down, research-led strategy for green hydrogen by entering via development through supply side and complementing via deployment through demand side. Finally, we compare these with the existing domestic energy industrial policies as well as those prevalent in other jurisdictions such as the US and China. • Create self-reliance for India in green energy technologies. • Develop generalized policy design with supply and demand side measures. • For solar, manufacturing focused policy for competence solely in manufacturing. • For battery storage, bottom-up manufacturing-led policy with deployment alongside development. • For green hydrogen, top-down research-led strategy where deployment follows development. [ABSTRACT FROM AUTHOR]

With the continuous advancement of the digital economy and green development strategies, exploring the impact of digital transformation on corporate green technology innovation becomes an importantly urgent issue. Based on the perspectives of asymmetric effects and structural breakpoints, this paper empirically analyses the effect of digital transformation on green technology innovation, as well as its heterogeneity and non-linear characteristics, using fixed effect models and panel threshold model with a sample of Chinese A-share-listed corporates from 2011 to 2021. The findings suggest that digital transformation of corporates can significantly promotes green technology innovation, which remains valid after a series of endogenous and robustness tests. Heterogeneous regression results shows that digital transformation exhibits an asymmetric impact on green technology innovation, with greater incentive effect for state-owned corporates, manufacturing corporates, and corporates located in areas with stricter environmental regulations. Additionally, threshold effect analyses prove that a positive non-linear relationship between digital transformation and green technology innovation, when corporate human capital, industry competition and regional institutional quality exceeded their respective structural breakpoints, the marginal contribution of digital transformation is further strengthened. This research provides clearer policy insights for corporates to promote cleaner production and low carbon development through digitization. [ABSTRACT FROM AUTHOR]

High-quality economic development focuses on achieving effective qualitative improvement and reasonable quantitative growth in the economy, which is the essential way for China to achieve sustainable development. This paper aims to investigate the role of financial development in the impact of foreign direct investment on high-quality economic development. GDP and green total factor productivity are used to measure the quantity and quality of economic development, respectively. We construct benchmark panel regression models, nonlinear interaction term models, and panel threshold models to examine the threshold effect of FDI on high-quality economic development based on the scale, structure, and efficiency of financial development. A series of tests are conducted to check the robustness of the estimates. Our results show that green total factor productivity in China is primarily driven by green technology progress. Additionally, foreign direct investment has a positive impact on China's high-quality economic development, with a threshold effect and nonlinear characteristics. Specifically, the scale of financial development affects the influence of foreign direct investment on the quantity of economic development, while the efficiency of financial development affects its influence on the quality of economic development. Furthermore, the structure of financial development affects both the quantity and quality of economic development. This study presents novel findings that contribute to understanding the role of financial development in the impact of foreign direct investment on high-quality economic development. Likewise, our research has implications for achieving high-quality development. The introduction of foreign direct investment under the high-quality development of the economy should comprehensively consider financial development. • The impacts on high-quality economic development of financial development and FDI were discussed. • The scale, structure and efficiency of financial development were considered. • Both quantity and quality of economic development were focus on. • The green total factor productivity in China was measured. • Policy implications of introducing FDI in China were proposed. [ABSTRACT FROM AUTHOR]

Under the goal of "carbon peaking" and "carbon neutrality" in China, it is significant to explore whether green finance contributes to carbon emission reduction. Therefore, based on the panel data of 30 provinces in China from 2005 to 2020, this paper empirically examines the impact of green finance on carbon emissions and its mechanism using the FE model, GMM model, DID, and the mediating effect model. Results find that green finance can significantly promote carbon emissions reduction, and this promotion remains still after robustness tests. The heterogeneity analysis shows that green finance's carbon emission reduction effect is more significant in developed and western regions. Moreover, the results of policy intervention effects confirm that green finance reform and innovation pilot zones (GFRIs) for carbon emission reduction are more pronounced than in other regions. Finally, the mediating effects reveal that industrial structure and green innovation are the core transmission channels through which green finance influences carbon emission reduction. These findings offer meaningful implications for formulating reasonable carbon emission reduction plans and determining the future development direction of green finance. [ABSTRACT FROM AUTHOR]

Transitioning to environmentally friendly economic growth is crucial for achieving sustainable development. Digital inclusive finance (DIF) can promote environmentally friendly economic activities and play a crucial role in fostering green and low-carbon development. In this context, a fundamental research question revolves around the theoretical foundations of how DIF impacts the growth of green total factor productivity (GTFP) and whether this relationship can be empirically verified. This question is particularly relevant for rural areas where financial innovations are necessary for the advancement of businesses and society as a whole. Additionally, expanding DIF can bring benefits to the environment, which is affected by agricultural activities. Therefore, it is important to assess the mechanisms behind the development of DIF and its impact on agricultural productivity growth. This paper presents an analysis of the interaction between DIF and GTFP growth in China's agricultural sector. Panel data from 2012 to 2019 at the province level are used for this analysis. The results reveal that GTFP and DIF demonstrate similar growth patterns, with DIF significantly contributing to GTFP growth. DIF can enhance GTFP by promoting information channels and fostering innovation in green technologies. [ABSTRACT FROM AUTHOR]

Green finance is essential for supporting the development of green, low-carbon projects and preventing environmental and climate financial risks. Investigating and studying whether and how it can aid in implementing energy transformation is worthwhile. This paper uses 30 provinces from 2004 to 2020 as research samples, the entropy method to construct a green finance measurement system, and the weighted multidimensional vector angle index method to construct an energy low-carbon transformation index based on the actual situation of green finance in China and the existing theoretical research basis. We systematically analyzed each province's spatiotemporal evolution characteristics of green finance and energy structure transformation by constructing a fixed effect model, a GMM model, an intermediary effect model, and a spatial Dubin model. We empirically tested the effect direction, internal mechanism, spatial spillover, and regional heterogeneity of green finance development (GFD) on energy structure transformation (EST) to investigate the low-carbon transformation of energy structures. The findings indicate the following:(1) Green finance plays a positive role in promoting the transformation and development of China's energy structure. (2) The influence of green finance development on the transformation of China's energy structure has significant spatial spillover, exhibiting "local and neighborhood" reciprocity. Through the spatial spillover effect, green finance can encourage the low-carbon transformation of local energy structures and increase the level of low-carbon transformation in neighboring areas. (3) The improvement of the level of green technology innovation and the intensity of environmental regulations are essential channels for green finance to support the low-carbon transformation of the energy structure, and regional heterogeneity will alter this transmission mechanism. The findings of this study provide empirical evidence for the vital role of green finance in achieving the double dividend of economic growth and low-carbon emission reduction. This study provides a new perspective for constructing a green finance system and advancing the dual-carbon objective and a resource for formulating effective regional energy transformation policies. [ABSTRACT FROM AUTHOR]

The rapid development of digital finance has profoundly changed the pattern of economic and social development, which is of great significance for the realization of the harmonious coexistence between humans and nature and for the promotion of sustainable development. This study measures the state of China's provincial ecological footprint from 2011 to 2019, combines the characteristics of digital financial development, and explores whether such development can promote sustainable development from an ecological footprint perspective. The results show that (1) China's provincial ecological footprint per capita, which was continuously aggravated, increased by an average of 29.15% during the sample period. Digital financial development is shown to be able to effectively suppress the ecological footprint, and an environmental inclusion effect is also observed, which helps achieve a win‒win solution for economic development and ecological conservation while promoting environmental equality. Endogeneity tests and other robustness tests indicate that causality holds. (2) Bridging the digital divide, the improvement of environmental constraints and government digital governance capacity can help amplify the marginal effects of digital finance and mitigate the ecological footprint. (3) Green technological innovation and green finance are critical paths to achieve sustainable development. Digital financial development can facilitate green-biased technological innovation and increase the scale of green credit effectiveness, thereby reducing the ecological footprint. In the future, digital technology should be used to achieve the precise sinking of financial resources, while the government's role in guiding sustainable development should be enhanced, the digital divide should be narrowed, and the role of digital finance in supporting sustainable development should be strengthened. • Using the latest improved methodology, this paper measures the provincial ecological footprint in China. • This paper investigates the impact of digital finance development on the ecological footprint. • Digital finance development can effectively mitigate the ecological footprint and has an environmentally inclusive effect. • The reasons for this are the green bias push of digital finance towards technological innovation and the increase in the scale of green credit effectiveness. [ABSTRACT FROM AUTHOR]

In recent years, green innovation has become an important means of achieving sustainable development, but the impact of peer firms on green innovation is less discussed. To fill this research gap, this paper explores the effect of peer firms on the green innovation activities of the Chinese A-share listed firms in the manufacturing industry from 2011 to 2020 and investigates influencing factors of peer effect. The main findings are as follows. First, there is a peer effect in making green innovation decisions. Second, industry competition has a positive moderating effect on the peer effect of green innovation. Third, digital financial inclusion and government intervention both promote the peer effect of green innovation. The peer effect is more significant with a high degree of digital financial inclusion. But the peer effect has no significant difference between different degrees of government intervention. This paper aims to explore the influencing factors of a firm's green innovation from the perspective of peer effect. The research results can provide a guide for the government to better promote green innovation activities of firms and benign competition in the industry. • A firm's green innovation activities are positively affected by industry peers. • Industry competition has a positive moderating effect on green innovation peer effect. • Digital financial inclusion and government intervention both promote the peer effect. • The peer effect is more significant with a high degree of digital financial inclusion. • The peer effect has no significant difference between different degrees of government intervention. [ABSTRACT FROM AUTHOR]

The rapid development of digital finance has profoundly changed the pattern of economic and social development, which is of great significance for the realization of the harmonious coexistence between humans and nature and for the promotion of sustainable development. This study measures the state of China's provincial ecological footprint from 2011 to 2019, combines the characteristics of digital financial development, and explores whether such development can promote sustainable development from an ecological footprint perspective. The results show that (1) China's provincial ecological footprint per capita, which was continuously aggravated, increased by an average of 29.15% during the sample period. Digital financial development is shown to be able to effectively suppress the ecological footprint, and an environmental inclusion effect is also observed, which helps achieve a win‒win solution for economic development and ecological conservation while promoting environmental equality. Endogeneity tests and other robustness tests indicate that causality holds. (2) Bridging the digital divide, the improvement of environmental constraints and government digital governance capacity can help amplify the marginal effects of digital finance and mitigate the ecological footprint. (3) Green technological innovation and green finance are critical paths to achieve sustainable development. Digital financial development can facilitate green-biased technological innovation and increase the scale of green credit effectiveness, thereby reducing the ecological footprint. In the future, digital technology should be used to achieve the precise sinking of financial resources, while the government's role in guiding sustainable development should be enhanced, the digital divide should be narrowed, and the role of digital finance in supporting sustainable development should be strengthened. • Using the latest improved methodology, this paper measures the provincial ecological footprint in China. • This paper investigates the impact of digital finance development on the ecological footprint. • Digital finance development can effectively mitigate the ecological footprint and has an environmentally inclusive effect. • The reasons for this are the green bias push of digital finance towards technological innovation and the increase in the scale of green credit effectiveness. [ABSTRACT FROM AUTHOR]

In recent years, green innovation has become an important means of achieving sustainable development, but the impact of peer firms on green innovation is less discussed. To fill this research gap, this paper explores the effect of peer firms on the green innovation activities of the Chinese A-share listed firms in the manufacturing industry from 2011 to 2020 and investigates influencing factors of peer effect. The main findings are as follows. First, there is a peer effect in making green innovation decisions. Second, industry competition has a positive moderating effect on the peer effect of green innovation. Third, digital financial inclusion and government intervention both promote the peer effect of green innovation. The peer effect is more significant with a high degree of digital financial inclusion. But the peer effect has no significant difference between different degrees of government intervention. This paper aims to explore the influencing factors of a firm's green innovation from the perspective of peer effect. The research results can provide a guide for the government to better promote green innovation activities of firms and benign competition in the industry. • A firm's green innovation activities are positively affected by industry peers. • Industry competition has a positive moderating effect on green innovation peer effect. • Digital financial inclusion and government intervention both promote the peer effect. • The peer effect is more significant with a high degree of digital financial inclusion. • The peer effect has no significant difference between different degrees of government intervention. [ABSTRACT FROM AUTHOR]

The paper addresses a poorly documented issue in the literature, namely the role of clusters in green transformation, including processes related to green, low-carbon, and circular economies. The purpose was to identify and understand the practices of clusters in this area. The adopted mixed research strategy consisted of both qualitative and quantitative research. Both research phases were conducted in a group of Polish Key National Clusters. Through qualitative research, the authors abductively identified practices that are vital for green transformation and categorized them into three thematic areas: Integration, Access to resources, and Education and awareness building. On this basis, the authors developed a method to measure the clusters' level of advancement in green practices, which was used in quantitative research. The results show that the surveyed clusters undertake a number of practices to promote green transformation. They are active in each of the distinguished areas and also engage in its most demanding forms. The study sheds new light on the concept of the clusters, showing how such organizations can be used as agents of change in favor of green transformation. • Research on clusters in relation to green transformation is at a very early stage. • Clusters can pursue various practices to promote green transformation. • Cluster green practices can be grouped as: Integration, Resources, and Education. • Advancement of Polish National Key Clusters in green transformation is rather high. [ABSTRACT FROM AUTHOR]

This paper deconstructs industrial green transformation into two aspects, industrial efficiency green transformation and industrial structure green transformation. We examine the impact of digital finance development on industrial green transformation using data from Chinese cities and listed companies. The results showed that: (1) digital finance can contribute to the green transformation of industrial structure distinctly but has an inhibiting effect on the green transformation of industrial efficiency. (2) Digital finance can promote capital-using technological progress and support industrial green transformation with its price effect and scale effect. (3) Higher government environmental preferences and governance capacity can strengthen the green transformation effect of digital finance. Strengthening financial supervision and narrowing the digital divide will help digital finance better support industrial green transformation. Digital finance development can more effectively promote the industrial green transformation of non-SOEs and enterprises with high financing constraints and high financial dependence. (4) Considering the financial attributes and highly polluting characteristics of real estate, digital finance exacerbates the pollution of the real estate industry. This study helps clarify the mechanism of digital finance supporting green development and provides some ideas for China's digital finance development and green economy transformation. • Deconstructing the industry green transformation (IGT) into EFFI and STRU. • Analyzing the synergistic effects of digital finance on the EFFI and STRU of the industry green transformation. • The positive impact of digital finance on the industry green transformation is statistically significant and robust. • The green transformation incentive effect of digital finance has significant heterogeneity. [ABSTRACT FROM AUTHOR]

Improving forestry green total factor productivity is important for promoting green and high-quality development of the forestry industry. Meanwhile, there are major expectations that the digital economy, which is the new engine driving China's economic development, will help achieve the green transformation and high-quality development of the industry. We systematically examine the impact of the digital economy on forestry green total factor productivity in dynamic and spatial dimensions using a dynamic panel model, mediating effect model and dynamic spatial Durbin model based on the Non-Radial Directional Distance Function-Luenberger Hicks Moorsteen model; furthermore, we measure forestry green total factor productivity in 30 provinces in China from 2013 to 2019. Our results indicate that China's forestry green total factor productivity grew at an average annual rate of 5.03% from 2013 to 2019, maintaining an overall stable growth trend, and the growth rate declined in the order of Central, Eastern, Western, and Northeastern China. At the same time, the positive spatial correlation of green total factor productivity in China's forestry industry increased significantly during this period, and the local spatial correlation showed a trend of gradually shifting to the H–H agglomeration feature, with significant path-dependent characteristics and overall spatial spillover effects. The digital economy can significantly promote an improvement in forestry green total factor productivity, and this conclusion is still valid after robustness tests and endogeneity treatment. The analysis of the mechanism of action shows that industrial structure upgrading and green technology innovation are important mechanisms through which the digital economy can improve forestry green total factor productivity. The heterogeneity analysis shows that the enhancement effect of the digital economy on forestry green total factor productivity is more obvious in the eastern and northeastern regions than in the central and western regions. Finally, according to spatial spillover analysis, the positive effects of the digital economy can have spatial spillover effects on neighboring regions that are geographically close and have similar economies. The research in this paper advances the understanding of the growth drivers of forestry green total factor productivity, the mechanisms, and the regional differences in forestry green total factor productivity as affected by the digital economy. [ABSTRACT FROM AUTHOR]

[Display omitted] • Trying to break out of the stereotypical thinking of inherent study areas. • Use of a three-stage DEA model to make efficiency results more scientific. • Multidimensional identification of differences between strategic areas. • Valuable regionally targeted policy recommendations are made. The Yangtze River Economic Belt and the Yellow River Basin are important economic regions and ecological barriers in China. Promoting the development of the Yangtze River Economic Belt and promoting ecological protection and high-quality development in the Yellow River Basin are major regional strategies implemented by the Chinese government, and the green growth of the two regions is important for the high-quality sustainable development of the whole China. To investigate the regional differences in green growth efficiency of the same type of geographical units, this paper measures the green growth efficiency and decomposition indicators of the Yangtze River Economic Belt and the Yellow River Basin from 2010 to 2020 using a three-stage DEA model and the Malmquist index method and establishes a panel Tobit model to identify the influencing factors of green growth efficiency. The results show that: ①After using the three-stage DEA model to remove the influence of external environment and stochastic factors, the mean values of green growth efficiency of Yangtze River Economic Zone and Yellow River Basin from 2010 to 2020 are 0.996 and 1.089, respectively. The change of green growth efficiency of Yangtze River Economic Zone is slightly higher than that of Yellow River Basin. ②The Malmquist indexes of the Yangtze River Economic Belt and the Yellow River Basin have generally increased, with the Technological Progress Index, which characterizes technological innovation, being the main endogenous driver of green growth efficiency in the Yellow River Basin, while the technical efficiency index, which characterizes factor mix and management level, is more significant in the Yangtze River Economic Belt. ③The Tobit model regression results show that the factors influencing green growth efficiency are also different in the two regions. Among them, the urbanization rate has a significantly positive effect on the two regions, while the effects of environmental regulation and research intensity are not significant. External openness has a suppressive effect on green growth efficiency in the Yangtze River Economic Belt, while the level of financial development and human capital negatively affect green growth efficiency in the Yellow River Basin. Therefore, green development in the new era should pay attention to the differences between different regions, and make appropriate development policies according to the local conditions of the development status of different regions. [ABSTRACT FROM AUTHOR]

Under the restriction of carbon neutral and carbon peak, the development of green building has become the strategic demand of most countries in the world. Despite the rapid development of green building in China, there are still some problems, such as insufficient market development force under the government's leadership, emphasizing design and neglecting operation. In order to realize high-quality synergistic development of green building market, this paper constructs a new synergistic development framework of green building market, establishes a tripartite evolutionary game model including local governments, developers and consumers, uses the analysis tool of evolutionary game theory and synergistic theory to explore the unilateral ESS and the system ESS of green building market. In order to verify the model, this paper adopts a case study method, takes a residential building project in Tianjin, China which has awarded a three-star mark in green building design evaluation as an example for numerical simulation, discusses the influence of government guidance on the system evolution trajectory, demonstrates the interactive process of stakeholders' behavior, and finds out the key factors affecting the system equilibrium strategy. The result shows that (1) the means of government guidance will affect the speed and result of system evolution; (2) the strategy of stakeholders depends on the comparison of costs and benefits; (3) the probability of ideal events is positively correlated with the economic benefits and negatively correlated with incremental cost of green building. This study can provide theoretical guidance for local governments, developers and consumers to make scientific decisions, and provide practical enlightenment for government to play a more active role in green building market. [ABSTRACT FROM AUTHOR]

• A new approach to research on the green transformation of EU countries was proposed. • A profound analysis of current level of green transformation in EU was conducted. • Development patterns of green transformation of EU countries were described. Green transformation has become one of the most important directions in the further development of the world. It involves the development of green technologies and the creation of legal regulations enforcing, for example, saving energy or reducing the emissions of greenhouse gases, as well as any other activities aimed at changing society's attitude towards the acceptance of – frequently more expensive but more environment-friendly – technological solutions and legal norms. Thus green transformation can be defined as combining economic growth with caring about the environment in order to guarantee a high quality of life for present and future generations at the level which is attainable due to civilisational development, as well as to an effective and rational use of the available resources. Still, there is no single globally accepted way to this transformation. It is proceeding in a variety of ways and depends on many different factors. The main purpose of the paper is a comparative analysis of the directions of changes occurring in the process of green transformation in EU countries. The added value of the research presented in the paper and its novelty is the analysis of the current patterns of green transformation in EU countries. The paper concentrated on recognizing them and drawing attention to the unfavourable directions of this transformation as well as to its positive aspects. The changes in the process of green transformation were analysed based on data used by the OECD to describe green growth in two periods: 2004 or 2005 as initial data and the last available data (usually 2018 or 2019). For this purpose the TOPSIS method was applied. The EU countries were divided into groups according to their way of applying green transformation. The provided research allows to better understand the course of this transformation in various EU countries. [ABSTRACT FROM AUTHOR]

Low-carbon manufacturing is an emerging industrial trend and an important way to achieve sustainable development. As the country with the largest manufacturing scale and carbon dioxide emissions, it is of great practical and theoretical significance to study China's low-carbon manufacturing issues. Based on the ternary analysis perspective of simmelian tie, this paper chooses to identify the influencing factors through the technology-organization-environment research framework, and derives the pathways of low-carbon manufacturing through the fuzzy-set qualitative comparative analysis method. The research results show that: (1) Under the low-carbon manufacturing goal, stable industrial chain structure and policy-sensitive are the formation reasons for the simmelian tie. (2) From the perspective of simmelian tie, low-carbon manufacturing will be influenced by the driving role of green technological advances, the supporting role of organizational strategies, and the regulatory role of the policy environment. (3) Manufacturing enterprises' low-carbon pathways are directly related to their industrial chain position. Compared with upstream enterprises, downstream enterprises have more diverse low-carbon manufacturing pathways. (4) Active governmental support can more effectively promote the realization of low-carbon manufacturing than environmental pressure. [Display omitted] [ABSTRACT FROM AUTHOR]

Recently, cleaner production (CP) has attracted more attention from developing countries because of its various advantages. However, due to the lack of management constraints, CP activities often cannot keep efficient for long. To alleviate this problem, we put forward the cleaner production management (CPM) system and applied it in China. Based on our previous research, this paper constructed a comprehensive performance evaluation system to effectively supervise the implementation effect of CPM system. By analysing the flows of material, energy and information, a multi-level index system integrating the CPM requirements and sustainable development needs was established. And the quantification of performance was realized by combining the analytic hierarchy process and grey relational degree operation, which reliability was confirmed by sensitivity analysis. The case study in Chinese steel enterprise showed that after implementing CPM system for three years, the overall performance level increased by about 25%. It has confirmed that the application of CPM mode could obviously promote the sustainable green development of the steel enterprise and provide the directions for carrying out CP plans in the next step, such as strengthening innovation of management system and improving employees' awareness of CP activities. In the context of enterprises seeking sustainable development, CPM system and performance evaluation possess broad application value. [Display omitted] • Quantitative evaluation of a new management system integrating cleaner production. • Case study of the cleaner production management system applied in steel enterprise. • An index system focused on the green sustainable development benefits. • A performance evaluation method combining AHP and grey relational analysis. [ABSTRACT FROM AUTHOR]

This paper provides an in-depth understanding of the mechanisms of green finance on green innovation, focusing on their spatial and non-linear relationships. Using panel data of 30 provinces of China during the period of 2009–2017, a green finance index is constructed, and the spatial Durbin model and panel threshold model are used. The results reveal that: (1) Green finance and green innovation had significant positive autocorrelation, and the development of green finance in provinces of central and western China were still in the lower-level range. (2) The coefficients of the direct effect and indirect effect of green finance on green innovation were significantly positive, which indicated that green finance was conducive to enhancing green innovation in local and adjacent provinces during the research period. (3) Double threshold effects of green finance on green innovation were observed, which demonstrated that the driving effect of green finance was decreased with the raising of intensity of environmental regulation. The implication of these results is that government should make full use of the radiation and trickle-down functions of green finance and green innovation to narrow regional gaps in sustainable development while maintaining a moderate intensity of environmental regulation. • A green finance index of 30 provinces of China during the period of 2009 to 2017 was constructed on the basis of green credit, green securities, green insurance, and green investment. • The heterogeneity of region and time for green finance were analyzed employing the spatial exploratory analysis, which manifested that the spatial evolution of green finance in China presents a gradient decreasing pattern from east to west. • The impact of green finance on green innovation was explored by the spatial Durbin model, which proved that the direct effect and the spatial spillover effect were significantly positive. • Moderate intensity of environmental regulation helps green finance promote green innovation and this value should not exceed a maximum of 0.935. [ABSTRACT FROM AUTHOR]

As a new form of industrial organization, there is still a lack of research on how industrial symbiotic agglomeration affects green economic growth. To fill this research gap, this paper analyzes the impact mechanism of industrial symbiotic agglomeration on green economic growth from the perspective of energy efficiency, waste recycling, and green technology innovation. Based on the data of Chinese cities from 2004 to 2019, we use the spatial difference-in-differences approach for empirical testing. The research concludes: (1) Industrial symbiotic agglomeration can both significantly promote green economic growth and have a spillover effect on neighboring cities. (2) The specific spillover effects are divided into three cases. Diffusion effect (within 150 km), siphon effect (150 km–750 km), no significant spatial effect (over 750 km). (3) The promotion and spillover effects of industrial symbiotic agglomeration on green economic growth can only be brought into full play when a certain threshold is reached. The local promotion effect requires the area of the symbiotic agglomeration area to be greater than 106 km2, while the spillover effect requires a larger scale (greater than 393.2 km2) for it to manifest itself. This has theoretical and practical significance for promoting green growth and achieving sustainable development through symbiotic agglomeration. • For the first time, we analyze the impact mechanism of industrial symbiotic agglomeration on green economic growth from the perspectives of energy efficiency, waste recycling and green technology innovation. • For the first time, the impact of industrial symbiotic agglomeration on green economic growth is quantitatively analyzed. Industrial symbiotic agglomeration can both significantly promote green economic growth and have a spillover effect on neighboring cities. • The specific spillover effects are divided into three cases. Diffusion effect (within 150 km), siphon effect (150 km-750 km), no significant spatial effect (over 750 km). [ABSTRACT FROM AUTHOR]

China has incorporated green technology innovation into its national development strategy based on its national conditions and development needs. The emission permit system is a typical environmental regulation, and one of the driving forces of green technology innovation. Research into the pollution discharge permits system is a key for improving environmental regulations. This study seeks to investigate the impact of pollution permits system on green innovation in China. Using econometric methods, we constructed and tested the model of green technology innovation incentives based on the emission permits system, and applied it to several Chinese counties and districts. The results revealed shortcomings in implementation of the emission permits system in various counties and districts. From a governmental perspective, this was due to poor standardization of management processes and insufficiently innovative supervisory methods. On the corporate side, problems included poor auditing of law enforcement plans, poor implementation of the ledger system, and a lack of disclosure of pollution data. We propose comprehensive strategies to address these issues. This paper explores the emission reduction potential of the pollution discharge permits system at the county level, in accordance with the Porter hypothesis, and provides reference data for the formulation and optimization of energy conservation and emission reduction policies. This will promote green development of the chemical and other industries, and green technology innovation in China. • We explore the pollution discharge permits system at the county level. • We construct a model of the impact of pollution discharge permits system. • We put forward some strategies for promoting green technology innovation. [ABSTRACT FROM AUTHOR]

Cross-border mergers and acquisitions by emerging multinational enterprises have significant failure rates due to difficulties in gaining legitimacy from local stakeholders. By incorporating the concept of strategic green marketing into marketing innovation via defensive green marketing and assertive green marketing, this study focuses on the green part of marketing innovation in the context of cross-border merger and acquisitions (M&As) by emerging multinational enterprises. This study examines the effects of defensive and assertive green marketing approaches on cross-border M&A completion as well as the boundary conditions of marketing channels of financial advisors. An analysis of 358 cross-border M&As conducted by Chinese firms over 9 years (2007 to 2015) reveals that conducting corporate social responsibility activities as a defensive green marketing approach, developing green patents as an assertive green marketing approach, and hiring financial advisors as a marketing channel can increase cross-border M&A completion rates. The main relationship between assertive green marketing approach and M&A completion is weakened by financial advisors due to the substitute effect between financial advisors and assertive green marketing innovation. This paper provides insights for international business studies by adopting the strategic green marketing perspective and linking the marketing innovation literature to the emerging multinational enterprises internationalization literature. [ABSTRACT FROM AUTHOR]

• Construct index system to evaluate coupling coordination degree of socioeconomic and ecological environment in the Loess Plateau, China. • The coupling coordination degree in the Loess Plateau has been improved during 2013–2018 but not ideal. • Provide an excellent comprehensive evaluation method for the regional sustainable development. • Coupling coordination degree in the Loess Plateau show distinct spatial characteristics. The underdeveloped areas are facing many challenges in ecological environment and social transformation. The benign interaction relationship between socioeconomic development and ecological environment is essential to achieve sustainable development goals (SDGs) for underdeveloped areas. This paper selected the prefecture-level cities on the Loess Plateau as the study case, by evaluating the coupling coordination degree (CCD) between socioeconomic (SE) and ecological environment (EE), the temporal and spatial variations of the Loess Plateau was discussed. Based on the evaluation index system constructed, the dynamic deviation maximization method and coupling coordination degree method were adopted to evaluate the CCD from 2013 to 2018. The evaluation results showed that the coupling coordination degree of the Loess Plateau is not ideal, and most prefecture-level cities have low CCD score. More than 70% of the cities showed primary coordination and tiny coordination, and no city located to good coordination. There are 17 cities (70.83%) with CCD growth rates below 2%, and four cities showed a decreasing trend of CCD. To achieve sustainable cities and society, the government should increase financial support and reduce tax for green industries, and increase the income level of employees to avoid the loss of labor force. In addition, by increasing the intensity of environmental regulation and policy support for scientific and technological innovation, which can promote the transformation of resource-based cities and high-polluting enterprises, and reduce the damage to the ecological environment. [ABSTRACT FROM AUTHOR]

Although green growth has become the economic development strategy of many countries in the world, and studies have analyzed the influencing factors of green growth from multiple angles, there are few literatures devoted to the impact of fintech and green finance on green growth. From the perspective of fintech development, this paper tries to construct a comprehensive index to evaluate the green growth of regional economy based on the in-depth analysis of the influence mechanism of green finance on green growth. At the same time, China's provincial panel data from 2011 to 2018 are selected to test the impact of fintech innovation and green finance on green growth, and its mechanism. It turns out that fintech and green finance significantly promotes green economic growth. At the same time, the impact of fintech and green finance on green growth has obvious regional heterogeneity, that is, the impact in eastern China is significantly stronger than that in central and western China. Further research shows that fintech innovation mainly promotes green economic growth through green credit and green investment. Therefore, fintech innovation can promote green economic growth by improving the development level of green finance, which has great reference significance for most countries. [ABSTRACT FROM AUTHOR]

Infrastructure development and the green transition of manufacturing are two crucial issues concerning the national economy and people's livelihood. However, not many literatures discuss the influencing mechanism connecting the two. This paper starts from a new research perspective of infrastructure development and explores the potential ways to improve manufacturing's ETFP. The empirical results indicate that the infrastructure development has indeed improved the green development level (GDL) of manufacturing. This impact is heterogeneous in terms of different infrastructure types and planning periods. Besides, the completed infrastructure helps the formation of an environmentally friendly development model, while the new infrastructure investment could generate negative environmental externalities. Through mechanism analysis, we found that infrastructure mainly promotes the GDL through the two tracks: scale effect and energy structure adjustment. The technological progress and industrial structure adjustment did not play the expected mediating impact. The dynamic panel threshold model results proved that with the expansion of the scale effect and the optimization of energy consumption structure, the role of infrastructure in promoting the manufacturing's GDL could be stronger. Some policy recommendations are proposed to provide a reference for the infrastructure programming and the green transformation in the manufacturing industry. [Display omitted] • Infrastructure development improved the manufacturing's green development level. • The impact is heterogeneous in different infrastructure types and time dimensions. • Scale and agglomeration effect and energy structure effect are the main tracks. • Industrial marginal effect of infrastructure presents a non-linear feature. [ABSTRACT FROM AUTHOR]

This paper aims at distinguishing the effects of different types of environmental regulations on different ways of green technology innovation behaviors and whether industrial agglomeration has a moderating effect. In this study, the theoretical framework of "Environmental regulation stimulates green innovation intention, while green innovation intention promotes green innovation behavior" is constructed, the mediating effect of green technology innovation intention is studied, and moderating effect based on industrial agglomeration is also analyzed. The empirical results show that controlling environmental regulation has a more significant influence on the green innovation intention compared to incentive regulation. The green innovation intention plays a mediating role in the logic chain of environmental regulation and green innovation behavior, which verifies the hypothesis of "incomplete environmental regulation" to some extent. Industrial agglomeration plays a positive moderating role in the logic chain of "environmental regulation—green innovation intention—green innovation behavior". It is proven that in the face of strict environmental regulations, the geographical proximity accelerates the diffusion of green knowledge and technology and stimulates intention and enthusiasm of enterprises towards green innovation. Our research lays a solid foundation for enterprises to realize cleaner production and government to formulate policies to realize circular economy and sustainable development. [Display omitted] • Innovation intention plays a mediating role between regulation and behavior. • Controlling regulation has a more significant influence on innovation intention. • Industrial agglomeration plays a positive moderating effect in logical chain. • Agglomeration has a greater moderating effect on green product innovation. [ABSTRACT FROM AUTHOR]

There is now evidence of a growing demand for green product innovation (GPI), leading to reduced negative environmental effects. This context is an opportunity for the organizational reconfiguration of companies in the manufacturing sector to accommodate these new product attributes and characteristics. Although the identification of the determinants of GPI has improved, its characterization is still fragmented and there is limited coherence in terms of the administrative approach leading to GPI development. The main purpose of this paper is the selection and configuration of the determinants of GPI and their organization into an innovation management model. This is achieved by identifying and categorizing the determinants of GPI in association with green innovation capabilities (GIC) and organizational dimensions (OD). The results provide a set of determinants of GPI, paving the way for organizational challenges, the adaptation and definition of new GIC, and the selection of green-oriented OD. All the above is represented in a framework showing the structural relationships and operationalized in a matrix product of the taxonomy referring to how the determinants of GPI affect GIC and OD, thus facilitating the definition of the variables that assess the progress of the company in pursuit of GPI. This research contributes in the field of management and organizational theories for the managerial transition to sustainable development from the dynamics typical of innovation. It also widens the scope of study for researchers, manufacturing company managers, and governmental bodies responsible for environmental management. [ABSTRACT FROM AUTHOR]

Environmental policies are a significant driver of change towards the achievement of sustainability. Policies impact on the environment through direct and indirect effects. Indirect effects pertain to the effect of innovation and invention mechanisms. The paper analyses those direct and indirect effects by focusing on different measures of environmental productivity. Econometric analysis on a long macroeconomic panel dataset is used to convey original insights, and as a platform for policy assessments. Results show that environmental policies adopted by countries may boost environmental productivity performances both directly and indirectly, through innovation, across various environmental dimensions. The increasing stringency of environmental policy, which has been observed over the last decades, is a crucial driver of change for climate actions, waste and resource efficiency, touching upon various SDGs related to responsible consumption and production, economic growth, industry and innovation infrastructures and climate action. [ABSTRACT FROM AUTHOR]