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Green innovation is a feasible and potential option that governments can adopt to reduce reliance on fossil fuels and speed the transition to renewable energy sources. This study analyzes the relationship between green finance development and green innovation using listed Chinese companies to investigate the role of green finance. In the preliminary analysis, it employs Poisson and negative binomial distributions based on the sample characteristics. The additional research considers enterprises' internal and external characteristics and adds a zero-inflated factor with enterprise-scale and bank competition. Our main findings suggest that green finance positively improves green technological innovation, and zero-inflated factors can significantly lower the possibility of enterprises refusing to engage in green innovation. By using a representative green finance policy in 2012 as a quasi-natural experiment, this paper also demonstrates the promoting effect of green finance development. The above results are still valid by the robustness test. Furthermore, this paper applies the panel threshold model and finds that the enterprise scale and bank competition not only affect the choice of the enterprise but also stimulate the promotion intensity in different development stages. This paper contributes to targeted policy implications for the renewable energy transition. [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]

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]

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]

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]