Hill Publishing Group | contact@hillpublisher.com

Hill Publishing Group

Location:Home / Journals / Advance in Sustainability /


Application of Green Finance in Promoting Low-carbon Transformation of Enterprises

Date: May 24,2023 |Hits: 1196 Download PDF How to cite this paper

Lanting Liu1,2,*, Grace R. Tobias1

1College of Business Administration, University of the Cordilleras, Baguio, Philippines.

2School of Economics and Management, Shandong Youth University of Political Science, Jinan, Shandong, China.

*Corresponding author: Lanting Liu


In response to the increasingly severe climate issues, governments around the world have set emission reduction targets, and the low-carbon transformation of enterprises has become a hot topic of global concern. As an emerging financial model, green finance plays a very important role and significance. This paper discusses the application of green finance in promoting the low-carbon transformation of enterprises from three aspects: green credit, green bonds, and green investment funds. The paper presents cases of state-owned banks promoting green credit for enterprises, enterprises using green bonds to support low-carbon transformation, and financial institutions issuing green investment funds. It analyzes their practical processes and effects and summarizes the practical experiences in order to provide guidance and reference for other enterprises and financial institutions. The conclusion is that green finance can effectively promote the low-carbon transformation of enterprises, but it needs to strengthen supervision and standardization, improve transparency and sustainability, and requires joint efforts from enterprises and financial institutions to form a positive interaction in order to achieve sustainable development goals.


[1] Ki-Hoon Lee, Byung Min. (2015). Green R&D for eco-innovation and its impact on carbon emissions and firm performance. Journal of Cleaner Production, 108, 534-542.

[2] J Hou, Teo, Thompson S. H, F Zhou, Lim, Ming K, H Chen. (2018). Does industrial green transformation successfully facilitate a decrease in carbon intensity in China? An environmental regulation perspective. Journal of Cleaner Production, 184, 1060-1071.

[3] Eftichios S. Sartzatakis. (2021). Green bonds as an instrument to finance low carbon transition. Economic Change and Restructuring, 54, 755-779.

[4] Wenqi Li, Jingjing Fan, Jiawei Zhao. (2022). Has green finance facilitated China's low-carbon economic transition? Environmental Science and Pollution Research, 29(38), 57502-57515.

[5] Bhatnagar S, Sharma D. (2022). Evolution of green finance and its enablers: A bibliometric analysis. Renewable and Sustainable Energy Reviews, 162, 112405.

[6] Carlo Carraro, Alice Favero, Emanuele Massetti. (2012). Investments and public finance in a green, low carbon, economy. Energy Economics, 34, 15-28.

[7] Robyn Owen, Geraldine Brennan, Fergus Lyon. (2018). Enabling investment for the transition to a low carbon economy: government policy to finance early stage green innovation. Current Opinion in Environmental Sustainability, 31, 137-145.

[8] Ren Yayun, Yu Jian, Xu Shuhua, Tang Jiaomei, Zhang Chang. (2023). Green Finance and Industrial Low-Carbon Transition: Evidence from a Quasi-Natural Experiment in China. Sustainability, 15(6), 4827.

How to cite this paper

Application of Green Finance in Promoting Low-carbon Transformation of Enterprises

How to cite this paper: Lanting Liu, Grace R. Tobias. (2023). Application of Green Finance in Promoting Low-carbon Transformation of Enterprises. Advance in Sustainability, 3(1), 1-6.

DOI: http://dx.doi.org/10.26855/as.2023.06.001

Volumes & Issues

Free HPG Newsletters

Add your e-mail address to receive free newsletters from Hill Publishing Group.

Contact us

Hill Publishing Group

8825 53rd Ave

Elmhurst, NY 11373, USA

E-mail: contact@hillpublisher.com

Copyright © 2019 Hill Publishing Group Inc. All Rights Reserved.