Green financing for renewable energy development: Driving the attainment of zero-emission targets

The study focuses on China's efforts to achieve net-zero carbon emissions targets and examines how the country's use of renewable energy and financing has mitigated greenhouse gas emissions. To understand the impact of these efforts, the study employs panel regression models and analyses panel data from 1990 to 2020. The study finds that even a minimally significant rise in greenhouse gas emissions elevates the development of carbon emissions. However, increasing funding for net-zero emissions encourages the use of renewable energy and lowers greenhouse gas emissions. The use of renewable energy is also found to lessen the impact of funding for climate-related greenhouse gas emissions. The research underscores the importance of renewable energy and green finance projects in promoting consistent growth and sustainable development. The findings have implications for portfolio managers, individual investors, and environmental law professionals. Moreover, the study provides insights into the implementation of COP26 guidelines and goals.