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ORIGINAL RESEARCH
Green Financial Policies, Urban Renewal and
Environmental Sustainability: Implications
for Achieving Carbon Neutrality Goals
1
School of Government, Nanjing University; Address: No.163 Xianlin Avenue, Qixia District, Nanjing, 210023, China
2
School of Environment, Nanjing University; Address: No.163 Xianlin Avenue, Qixia District, 210023, Nanjing, China
3
Business school, Nanjing Xiaozhuang University; Address: No. 3601, Hongjing Avenue, Jiangning District, Nanjing,
211171, China
Submission date: 2024-07-30
Final revision date: 2024-10-07
Acceptance date: 2024-10-28
Online publication date: 2024-12-30
Publication date: 2025-11-14
Corresponding author
Rong Wang
Business school, Nanjing Xiaozhuang University; Address: No. 3601, Hongjing Avenue, Jiangning District, Nanjing, 211171, China
Business school, Nanjing Xiaozhuang University; Address: No. 3601, Hongjing Avenue, Jiangning District, Nanjing, 211171, China
Pol. J. Environ. Stud. 2025;34(6):8419-8433
KEYWORDS
TOPICS
ABSTRACT
The ecological and environmental subsystem is a core link in the regional sustainable development
system and an important path for regional green transformation. From data availability, this paper selects
30 provinces and autonomous regions in China (excluding Tibet, Hong Kong, Macao, and Taiwan) from
2005 to 2022 and adopts the system Generalized Method of Moments (GMM) to explore the impacts of
green financial policies and urban renewal policies on regional environmental sustainable development,
expecting to provide theoretical reference for China's environmentally sustainable development and
dual-carbon goal, and draws the conclusions as follows: (1) Overall, green financial development
is conducive to regional environmental sustainable development; from a regional perspective, green
finance significantly contributes to environmental sustainability in the eastern region, but not in the
central and western regions. (2) Urban renewal can improve environmentally sustainable development
at the national level, and the implementation of urban renewal policies in the east and central can also
improve environmentally sustainable development, but it does not have a significant impact in the west
of the country, which is still insufficient to play a positive role. (3) Economic development can promote
environmental sustainability, but is not significant in the west. Resource consumption in all regions
has a significant inhibitory effect on ecological and environmental sustainability; the increase of the
proportion of the secondary industry has a significant inhibitory effect on ecological and environmental
sustainability, except for the eastern region; environmental regulation on regional environmental
sustainability at the national level and the eastern region can promote environmental sustainability,
while the central and western environmental sustainability the greater the negative effect.
CONFLICT OF INTEREST
The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
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