Climate Finance and Sustainable Development: Green Transition and Innovation under Carbon Neutrality Goals

Deadline for manuscript submissions: June 30, 2026

 

Special Issue Editors

Assoc. Prof. Kai Wu Website  E-Mail: wukai8759@cufe.edu.cn

School of Finance, Central University of Finance and Economics, China
Interests: Empirical corporate finance; climate finance; innovation; risk management

 

 

Dr. Jinxin Cui Website  E-Mail: jinxincui2022@mail.zjgsu.edu.cn

Zhejiang Gongshang University, China
Interests: Financial risk management; energy and climate finance; financial econometrics

 

 

Dr. Emad Kazemzadeh Website  E-Mail: emad.kazemzadeh67@mail.um.ac.ir

Ferdowsi University of Mashhad, Iran
Interests: Environmental economics; energy economics; climate finance; green innovation; sustainable development; ecological footprint

 

 

 

Special Issue Information

 Dear colleagues,

 

As global climate challenges intensify, climate finance and sustainable development have become crucial drivers for achieving carbon neutrality goals. This Special Issue focuses on "Climate Finance and Sustainable Development: Green Transition and Innovation under Carbon Neutrality Goals," exploring how financial mechanisms can support low-carbon transitions and promote sustainable development. The urgent need to limit global warming to 1.5°C requires unprecedented mobilization of capital toward climate-resilient investments across all economic sectors. Financial institutions, policymakers, corporations, investors, and multilateral development banks face the complex task of realigning capital flows with sustainability objectives while ensuring economic stability. The growing integration of climate considerations into financial decision-making represents a fundamental shift in how markets operate, creating both challenges and opportunities. This transformation demands innovative financial instruments, robust risk assessment methodologies, and collaborative governance frameworks (e.g. public-private partnerships) that can effectively channel investments toward green technologies, infrastructure, and business models that enable genuine progress toward carbon neutrality. We particularly welcome contributions in the following areas:

  • Impact of carbon neutrality policies on green finance development
  • Climate risk pricing and investment decision-making
  • Financial innovations for Sustainable Development Goals (SDGs)
  • Green bonds, carbon trading, and climate finance mechanisms and instruments
  • Energy transition financing mechanisms
  • ESG investments and climate risk disclosure
  • Sustainable supply chain finance
  • Financial support for green technology innovation
  • Climate adaptation financing in developing countries
  • Financial regulations and international cooperation under carbon neutrality goals
  • Climate Finance Innovation and Technology
  • Climate Finance Policy and Governance
  • Renewable energy and energy efficiency project financing strategies
  • Green infrastructure investments and their impact on sustainable cities
  • Other related topics

This Special Issue welcomes diverse research contributions, including empirical studies, theoretical models, and literature reviews. We especially encourage collaborations between academia and practitioners to propose practical solutions exploring how financial innovations can drive global green transitions and sustainable development.

 

 

 

Guest Editors

Assoc. Prof. Kai Wu
Dr. Jinxin Cui
Dr. Emad Kazemzadeh

 

 

 

Keywords

Climate finance; sustainable development; green innovation; carbon neutrality; green bonds; renewable energy investment; environmental policy; financial sustainability; ESG (Environmental, Social, and Governance) investing; climate risk management; sustainable financial markets; green transition; carbon pricing; climate adaptation and mitigation; green investment; ESG investment; energy transition; fintech

 

Published Papers

  • Open Access

    Article

    Article ID: 1893

    Enhancing clean energy financial policies: Financing efficiency of new energy industry based on DEA-BCC-Malmquist-Tobit Model

    by Aicong Liu, Yueyue Song, Tong Dong, Shi Yin

    Forum for Economic and Financial Studies, Vol.3, No.2, 2025;

    The “double carbon” objective presents opportunities for new energy enterprises, though financing efficiency remains a significant challenge. This paper assesses the financing efficiency of 153 new energy enterprises from 2017 to 2021 using DEA-BCC (Differential Evolution Algorithm-Bias Corrected and Accelerated) and DEA-Malmquist models, providing both static and dynamic perspectives. The Tobit model is employed to analyze the factors influencing financing efficiency, with a case study on Shanghai Electric. Key findings include: (1) New energy enterprises and Shanghai Electric show diversified financing channels (internal financing, debt, equity, and financial support) with a positive trend. (2) Despite this, their financing remains inefficient. From 2017 to 2021, only about 15% of new energy enterprises achieved DEA effectiveness, with overall financing efficiency impacted by changes in scale efficiency. Dynamic analysis shows an overall improvement, but low efficiency persists. For Shanghai Electric, while its comprehensive technical efficiency was optimal between 2017 and 2020, it declined in 2021 due to suboptimal scale efficiency. Low technical progress and scale efficiency contributed to this inefficiency. (3) Factors affecting financing efficiency include enterprise size, green technology innovation, capital structure, government support, and employee quality. For new energy enterprises, scale is inversely related to financing efficiency, while the other factors positively influence it. For Shanghai Electric, enterprise size, employee quality, capital structure, and government support significantly impact its financing efficiency.

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    (This article belongs to the Special Issue Climate Finance and Sustainable Development: Green Transition and Innovation under Carbon Neutrality Goals)