Extract
[...] According to China's "Annual Report on Ecological Environment Statistics," the total investment in environmental pollution control in 2020 was 106.389 billion yuan, accounting for of the government's total fixed asset investment. Meanwhile, the investment system in environmental protection (investment in urban environmental infrastructure construction, investment in industrial pollution source control, and investment in construction project acceptance) has been constantly improved and developed. Environmental regulation has been adopted by policymakers as an important means of controlling environmental pollution. However, there is still no coherent conclusion as to the impact of environmental regulation on GTI. [...]
[...] However, research on the impact of environmental regulation on GTI (and the corresponding conclusions) remains controversial. Currently, there are primarily three viewpoints on the impact of environmental regulation: positive promotion, negative inhibition, and uncertain effect. Firstly, the positive viewpoint of promotion supports that, when the government implements environmental regulations, companies will actively implement GTI to reduce production costs and strengthen their competitiveness. These companies obtain high profits by developing green processes and products (Guellec and Van Pottelsberghe De La Potterie, 2003), resulting in an 'innovation compensation effect'. [...]
[...] This credit system implied that green loans could be used for the purchase and installation of solar panels, roof replacement or home renovation (https://financer.com/us/wiki/greenloans/). Sustainable development financing was first issued in 2017 with the aim of encouraging the borrower to achieve social, environmental or governance objectives through tariff incentives. Since its launch, sustainable finance has become the fastest-growing sustainable finance instrument, with green loans (SLL) and green bonds (SLB) standing out the most. Since its introduction in 2017, sustainable development financing has been issued for over $809 billion Americans, of which 85% concern SLL. [...]
[...] Thirdly, Van der Linde (1995b) pointed out that if the environmental regulations of a region become stricter, polluting enterprises will choose to leave this region due to the increase in costs (List et al., 2000; Xing and Kolstad, 2002; Yin and Kolstad, 2002). Under the effect of the transfer of polluting industries, the capacity for green innovation of the areas where polluting industries have been transferred solidifies at a low level. At the same time, the current political system of China is composed of "political centralization and fiscal decentralization". [...]
[...] The social bond issue was issued for an amount of billion and had a maturity of three years. A large number of investors showed interest and 24% of this issue was bought by investors from Asia and the MiddleOrient, followed by investors from Spain, Germany and other European countries. The objective of this transaction was to provide aid to small and medium-sized enterprises in economically underdeveloped regions.-developed, which generate a level of GDP per capita below the national average (Ross, 2016). [...]
