Search

Carbon lock-in has become a major obstacle to green development in all countries, and carbon unlocking (CUL) is of great significance in accelerating the process of carbon neutrality worldwide. Based on the panel data of 292 prefecture-level cities in China from 2006 to 2020, this paper constructs a PSM-DID model based on machine learning to empirically test the impact of LCCP policy on urban CUL. The regression result shows that the low carbon city pilot (LCCP) policy significantly increases the level of CUL by 1.25 % in the pilot cities, which is still valid after range of robustness tests, and the mechanism analysis shows that green innovation and green habits are important ways for the policy to affect CUL. Based on the generalized random forest (GRF) algorithm, we further find that the policy can increase the CUL level by 0.6 %, and the average treatment effect (ATE) of the sample is concentrated between 0.004 and 0.006, which exhibits obvious heterogeneity. This paper chooses population quality, openness level and industrial structure as heterogeneous factors, which are finally found to have a U-shaped or inverted U-shaped relationship with ATE. This study provides useful insights for China and other countries to break the carbon lock-in and realize green development. • Low-carbon city pilot policy can effectively promote urban carbon unlocking. • Causal forest model is used for causal inference based on generalized random forests algorithm. • The propensity score is calculated by machine learning. • Generalized random forest is used for heterogeneity analysis. • Low-carbon city pilot policy transmits policy effects through green innovation and green habits. [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]