RETRACTED ARTICLE: Policies to obtain energy transformation target: evidence from emission accounting impacts

This paper focuses on assessing the significant impact of emission accounting on the energy transformation efforts of 100 leading publicly listed companies in China from 2015 to 2021. Employing the CUP-FM technique, the results indicate that a 1% increase in carbon emissions correlates with approximately a 0.17% rise in fossil fuel consumption. Additionally, a 1% increase in resources allocated to green tax initiatives is associated with roughly a 0.35% reduction in fossil fuel expenditure. The study also reveals a noteworthy correlation between ICT investments and fossil fuel expenditure. The key recommendations emerging from this research include implementing green training programs for the workforce, establishing a robust green corporate management system, and standardizing the financial reporting of sustainable activities.