Assessing the effect of green finance, energy consumption structure and environmental sustainable development: a moderated mediation model

Green finance (GF) is playing a crucial role in driving the global economy towards achieving sustainable development. This study was conducted based on data from China's provinces between 2011 and 2020, analyzing the influence of GF on the energy consumption structure (ES). Additionally, it investigated how low-carbon technology innovation (LCI) and industrial structure (IS) contribute to this impact. The results indicate that the development of GF has a significant positive impact on the optimization and adjustment of ES in various regions. Additionally, LCI plays a mediating role between GF and ES, while the optimization of IS positively moderates the effect of GF in promoting ES. Furthermore, empirical studies were conducted on ES and environmental sustainable development (ED), and the results demonstrate that improving ES significantly promotes ED. The key to promoting ED is the use of renewable energy. Furthermore, the study also examined how GF affects ES across different regions, and it was observed that the influence of GF on ES gradually intensifies as we move from the eastern region to the central and western regions. The findings extend existing theoretical models by elucidating the interconnectedness among GF, LCI, and IS in achieving optimization of ES. These findings from our study provide valuable insights for decision makers on how to optimize ES and promote ED. As such, this study is not only valuable for policymakers and stakeholders, but also for scholars seeking to expand the theoretical horizons of sustainable economic practices and environmental sustainability.