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Green innovation is important and beneficial for the green development of enterprises. The development of digital technology could improve the asymmetry of information and affect the enterprise's financing modes. Currently, a definitive conclusion about the relationship between the digital transformation and green technology innovation has not reached. Additionally, studies have not yet fully explored the impact pathways of corporate digital transformation on green innovation through corporate financing modes. To fill this void, this study collected data of Chinese A-share listed companies from 2010 to 2020. The empirical analysis results showed that digital transformation significantly enhanced enterprises' green innovation abilities. Furthermore, mediating models were utilized to explore how enterprise financing modes mediate the impact of digital transformation on the enterprise green innovation. Results indicated that through internal financing and bank loans as "bridges", digital transformation promoted enterprise green innovation. However, digital transformation did not have a significant impact on enterprise green innovation through venture capital. Moreover, heterogeneity analyses revealed significant differences among different groups of enterprises. This study expands the research field related to digital transformation and enterprise green innovation by providing empirical evidence to uncover the impact of digital transformation on enterprise green innovation. Findings of this study contribute not only to enterprise managerial decision-makers to better leverage digital transformation through corporate financing to accelerate green innovation, but also to government policymakers to design policies to stimulate enterprise green innovation. • Firstly, our paper empirically examines and validates the impact of digital transformation on enterprise green innovation again by using empirical data of biggest development counties, i.e., China. • Secondly, our paper combines enterprise digital transformation, financing modes, and green innovation within the same framework to study the "bridge" role of financing modes between digital transformation and enterprise green innovation. • Thirdly, Thirdly, heterogeneity analyses were carried out, the results of the different enterprises groups are significant different. [ABSTRACT FROM AUTHOR]

China's double carbon target aims to improve human well-being and sustainable development. Energy transformation welfare performance (ETWP) is the efficiency of energy transition (ET) in enhancing human well-being. ETWP considers both human well-being and sustainable development. Research on its driving force is helpful in achieving the double carbon goal. Thus, this paper used Logarithmic Mean Divisia Index Model, Fixed Panel Regression Model and Grey Relational Analysis Model to analyze China's ETWP from 2006 to 2022 and predicted ETWP of 31 provinces from 2023 to 2030. The results showed that: (1) ETWP had two rising periods in 2006–2014 and 2015–2022. (2) The government's rationalization policy on energy and environment and technological innovation ability were fundamental driving forces for improving ETWP. (3) There were obvious spatial and temporal distinctions in ETWP, and it would bring out different degrees in most areas. Thus, ET should be promoted by improving the ecological environment and resource utilization efficiency; The importance of the role of scientific and technological innovation and policies should be focused on in promoting ETWP; ET policies based on local developments should be formulated and the energy structure should be changed. Figure Geographical map of ETWP from 2014 to 2022. [Display omitted] • The concept of energy transition welfare performance was defined and accounted for. • The driving factors of energy transition welfare performance were assessed. • The spatial differences of energy transition welfare performance was studied. [ABSTRACT FROM AUTHOR]

Rapid developments in environmental infrastructure have contributed to significant improvements in green total factor productivity, but further investigation is required to provide a detailed assessment to understand the policy mechanisms involved. This paper analyzes environmental progress in China through MMQR, CCEMG, and AMG as empirical strategies for 30 provinces in China. Our empirical results reveal that energy optimization through renewable energy is the most effective channel to improve green total factor productivity, though it is not the only available option. Since environmental regulations, infrastructure development, and green technology innovation also directly impact energy efficiency, adopting these within policy channels will positively impact environmental sustainability. Our empirical approach helps suggest novel environmental policy suggestions. In particular, policymakers must introduce structural changes within energy developments to foster renewable energy. Furthermore, China must increase environmental spending to upgrade its energy infrastructure further and solve ecological issues. These insights offer valuable policy guidance for decision-makers in China and globally, aiming to foster economic and environmental sustainability and achieve zero-carbon transition goals. • The current study analyses the role of green factor productivity in zero carbon transition. • We use 30 chinese provincial datasets from 2005 to 2020. • Energy transition is the most effective channel to improve green total factor productivity. [ABSTRACT FROM AUTHOR]

Based on the unique perspective of local environmental regulations promulgated in Chinese prefecture-level cities from 2000 to 2018, this paper examines the impact of urban environmental legislation on green total factor energy efficiency (GTFEE). The results show that implementing environmental legislation significantly improves local GTFEE , with comprehensive protection regulations contributing to local energy efficiency improvements, while the impact of pollution prevention regulations is insignificant. This conclusion remains robust to multiple scenarios. Potential mechanisms through which environmental legislation can guide urban green transition include the industrial upgrading effect represented by "clean industry development" and "polluting industry exit", as well as the technical innovation effect achieved through "new technology generation" and "old technology upgrading". Furthermore, environmental legislation with a higher degree of regulatory effectiveness has a greater potential for energy saving. Environmental legislation has a more significant impact on improving GTFEE in cities in non-old industrial bases, with less frequent turnover of officials, and in central and western regions in China. This study evaluates the positive impact of urban environmental legislation on GTFEE , aiming to advancing the rule of law in local environmental pollution governance and thereby promote urban green transition. • Use a Difference-in-Differences model to explore the effect of urban environmental legislation. • Environmental legislation guides urban green transition development. • The impact of heterogeneous urban environmental regulations on green transition development. • Industrial upgrading and Technical innovation have positive mediating roles. • Environmental legislation policy has city attributes, official turnover and location heterogeneity. [ABSTRACT FROM AUTHOR]

The main factor behind green economic development is green technology innovation (GTI). Environmental regulation and green finance (GF), as important ways to promote ecological civilization construction, run through the entire procedure of GTI. The purpose of this study is to investigate the influence of heterogeneous environmental regulation on GTI and the moderating effect of GF on GTI from both theoretical and empirical perspectives, to provide useful ideas for China's economic reform path selection and environmental governance system optimization. This paper uses information from 30 provinces between 2002 and 2019, and a bidirectional fixed model was constructed. The results show that: First, regulatory environmental regulation (ER 1), legal environmental regulation (ER 2), and economic environmental regulation (ER 3) all have greatly boosted the degree of GTI in each province. Second, GF acts as a highly effective moderator between heterogeneous environmental regulation and GTI. Finally, this article investigates how GF can act as a moderator in various circumstances. The beneficial moderating effect of it is found to be more pronounced in inland areas, areas with weak spending on research and development, and areas with high energy consumption. These research results provide valuable references for accelerating the green development process in China. • Constructs environmental regulation indexes from regulatory, legal, and economic. • Heterogeneous environmental regulation promotes green technology innovation. • Green finance plays a positive moderating role. • The moderating effect of green finance varies greatly in different regions. [ABSTRACT FROM AUTHOR]

Green technology innovation (GTI) is an effective way to promote the green development of economy, and government environmental regulations are an important means to encourage enterprises to carry out GTI. Taking Chinese A-share listed enterprises from 2010 to 2019 as samples, this paper divides environmental regulations into three categories: command-based environmental regulation (ER 1), market-based environmental regulation (ER 2) and voluntary environmental regulation (ER 3), studies their impact on enterprise GTI, and discusses the joint effect of enterprise research and development (R&D) investment and government support from the perspective of internal and external linkage of enterprises. In addition, this paper also analyzes the compound effect and time effect of environmental regulation. The research conclusions are as follows: (1) From the perspective of policy types, both ER 1 and ER 2 could stimulate enterprises to carry out GTI, and the promotion effect of green utility model patents is slightly higher than that of green invention patents. ER 3 inhibits enterprise GTI. In addition, this paper finds that the effect of three environmental regulations acting at the same time is greater than that of one of them. (2) The mechanism analysis shows that the R&D investment of enterprise positively could moderate the relationship between ER 2 and green invention at the significance level of 5%, positively moderate the relationship between ER 2 and green utility model patent at the significance level of 1%, and negatively moderate the relationship between ER 3 and green utility model patent at the significance level of 5%. The government support could moderate the relationship between environmental regulation and green utility model patents at the significance level of 5% and 10%. (3) The effect analysis shows that the transformation rate of GTI in China needs to be improved. The three environmental regulations could have an effect on enterprise GTI in a short period, and ER 1 has the fastest effect. (4) Considering the differences in the level of economic development and resource endowments in various regions of China, this paper classifies the sample enterprises and finds that the impact of environmental regulation on enterprise GTI is heterogeneous in terms of location, ownership nature, factor density and industry type. The research results provide the important reference for the formulation and implementation of environmental regulation policies according to local conditions. • ER 1 and ER 2 could stimulate enterprise GTI. • The union effect of ER 1 , ER 2 , and ER 3 is better than one of them. • R&D positively moderates the relationship between ER 2 and GTI. • ER 1 has the fastest effect on GTI in three kinds of environmental regulations. • The effect of ER on GTI shows heterogeneity for different enterprise features. [ABSTRACT FROM AUTHOR]

The digital economy has demonstrated strong resilience and great potential, under the interwoven influence of the global pandemic and severe environmental concerns across the world. Therefore, there is a need to focus on the value of green economic growth in the digital economy. This paper constructs an evaluation index system and adopts the SEEA (System of Environmental and Economic Accounting) method to measure the digitalization level (Digi) and green economy growth level (GEG) of China. The internal mechanism and linear relationship between digitalization and green economy growth are examined based on the panel data from 2013 to 2019. Moreover, this study explores the spatial spillover effect. The major study findings are as follows: (1) Digitalization and green economy growth represent a steady growth trend, and the former as a whole significantly promotes the latter, with a marginal effect of 1.648. (2) The mechanism analysis indicates the intermediary effects' size of three crucial intermediaries: green technology innovation > advanced industrial structure > the rationalization of industrial structure. (3) Both the "local effect" (0.556; 0.574) and "neighboring effect" (1.382; 1.415) of digitalization on green economy growth are positive under the two weight matrices and display "simultaneous resonance" characteristics based on the spatial perspective. (4) There exists obvious regional spatial heterogeneity and resource endowment heterogeneity. Finally, this study put forward corresponding policy implications, such as construction of new digital infrastructures and guiding green-energy consumption. • The green economic growth (GEG) level is measured by the SEEA method. • The linear relationship shows digitalization (Digi) can significantly promote GEG. • The spatial effect of Digi on GEG shows "positive simultaneous resonance". • Three crucial intermedia's effects are compared. • The heterogeneous impact is explored from different dimensions. [ABSTRACT FROM AUTHOR]

Green innovation activities of enterprises often fall into the dilemma of financing constraints. Hence, it is urgent that the financial system develops and becomes innovative, especially for a developing country like China. Existing literature mainly explores the influencing factors of green innovation from the environmental regulation, economic growth and government subsidies perspective. However, few papers critically study how digital finance influences green innovations. To explore the internal influencing mechanism of digital finance on the quantity and quality of green technology innovation, panel data of 271 prefecture-level cities from 2011 to 2019 in China is used. Based on theoretical analysis and empirical research, we get the following conclusions. First, digital finance can improve the quantity and quality of green technological innovation, which has become a significant driving force for green innovations in China. The results are still robust after the endogeneity tests. Second, the results of heterogeneous analysis indicate that the different dimensions of digital finance can improve green innovations. They include breadth of coverage, depth of use, and degree of digitization. The positive effect of digital finance is most substantial in eastern cities, followed by central cities, and weakest in western cities. Third, digital finance indirectly improves green innovation mainly by alleviating financing constraints. Our empirical results provide policy enlightenment for realizing the coordination of China's urban digital transformation and green economic development. • The effect of digital finance on the quantity and quality of green innovation is explored based on the actual background in China. • Digital finance has become a significant driving force for green innovation in China. • The different dimensions of digital finance can improve green innovations. • Digital finance plays a positive role in green technology innovation mainly by alleviating financing constraints. [ABSTRACT FROM AUTHOR]