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This study examines the role of science and technology finance (S&TF) and Industry 4.0 innovations in promoting sustainable transformation in China's copper mining industry, with a focus on reducing carbon emissions. Using panel data from 30 Chinese provinces spanning 2011 to 2020, we apply two-way fixed effects and threshold regression models to examine the nonlinear impacts of S&TF on carbon emissions from copper mining (CECM). Our findings demonstrate that a 1 % increase in S&TF is associated with an approximate 0.142 % reduction in CECM, with the effect becoming more pronounced beyond the identified national threshold value of 0.163. The effect is most pronounced in the economically advanced eastern regions but remains relevant across central and western provinces. Furthermore, the effectiveness of S&TF is moderated by regional Industry 4.0 development, which exhibits a U-shaped influence, while economic development strengthens and environmental regulation weakens the impact of decarbonization over time. These findings highlight the need to align financial innovation, regional technological capacity, and governance mechanisms to advance SDG and ESG objectives in resource-intensive industries. The study offers practical insights for developing resilient, innovation-driven financial and governance frameworks that can effectively reduce industrial carbon emissions.
Khan et al. (2025) studied this question.