.png){kind=icon}
.png){kind=icon}
Return
The impact of green finance on the synergy between pollution control and carbon reduction: Exploring the moderating role of institutional environment and spatial spillover effects
.png){kind=icon}
PRE
AI
Q
J
Y
DOI：10.1016/j.jclepro.2026.149141.png)
.png){kind=icon}
Original request for help.png){kind=icon}
Share.png){kind=icon}
Save
Abstract
En 中文
Promoting the synergy between pollution control and carbon reduction (PCCR synergy) is now a key strategy in climate-change governance. By channeling capital toward clean industries, green finance (GF) plays a key role in promoting economic growth alongside environmental improvement. Using data from 282 Chinese cities during 2007-2023, this paper examines the direct impact of GF on PCCR synergy, as well as the mechanisms and spatial spillovers involved. We demonstrate that GF substantially enhances PCCR synergy. The mechanism analysis shows that GF promotes PCCR synergy mainly by strengthening green technology innovation, promoting energy transition, and advancing industrial upgrading. In addition, regional integration strengthens this positive impact by reducing administrative barriers, whereas climate policy uncertainty weakens the effectiveness of GF by increasing investment hesitation. The heterogeneity results suggest that GF promotes PCCR synergy more strongly in resource-based cities than in non-resource-based cities. Further analysis shows that this promoting effect is most pronounced in growing and mature resource-based cities. Furthermore, we reveal a beggar-thy-neighbor phenomenon. Although GF improves local synergy, it generates negative spatial spillovers for neighboring areas through resource siphoning and pollution transfer. These findings deepen the understanding of GF-induced environmental synergy and offer policy guidance for differentiated governance and the promotion of environmental equity across regions.
Keywords:
Green finance
The synergy between pollution control and carbon reduction
Climate policy uncertainty
Regional integration
Spatial spillover effect
Journal
IF:
10
Papers:
4.6W
Citations:
36.8W
Organization
No organization information available
Cited Papers