Summary Achieving low-carbon development has become a key goal for countries and regions worldwide. The new industry–finance cooperation (IFC) model emerging in China holds promise as an effective approach to reducing carbon emission intensity (CEI). This paper utilizes data from 260 Chinese cities from between 2011 and 2022 (n = 260, 12 years), employing a difference-in-differences model to examine the impact of IFC on urban CEI. The IFC appears to have helped reduce urban CEI, potentially through promoting green technological innovation, advancing technological finance and talent gathering. Furthermore, the effect of IFC on reducing urban CEI varied depending on resource endowment, regional characteristics and prevailing CEI. Overall, the impact of IFC on CEI has not been significant in resource-dependent cities (highly dependent on the extraction and primary processing of one or two resources, such as coal and oil, for which the industrial structure is extremely narrow); however, for resource-dependent cities undergoing transformation (e.g., declining or regenerating), IFC seems to have had a significant carbon reduction impact. Our findings stand to inform governments, financial institutions and industrial organizations worldwide in their joint efforts to achieve low-carbon emission targets.
Yin et al. (Mon,) studied this question.
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