Clean at home, polluting abroad: the role of the Chinese financial system’s differential treatment of state-owned and private enterprises

References

• Aichele, R., & Felbermayr, G. (2015). Kyoto and carbon leakage: An empirical analysis of the carbon content of bilateral trade. Review of Economics and Statistics, 97(1), 104–115. https://doi.org/10.1162/REST_a_00438
   Web of Science ®Google Scholar
• Buchner, B., Clark, A., Falconer, A., Macquarie, R., Meattle, C., & Wetherbee, C. (2019). Global landscape of climate finance 2019. Climate Policy Initiative. https://climatepolicyinitiative.org
   Google Scholar
• Cabré, M. M., Gallagher, K. P., & Li, Z. (2018). Renewable energy: The trillion dollar opportunity for Chinese overseas investment. China & World Economy, 26(6), 27–49. https://doi.org/10.1111/cwe.12260
   Web of Science ®Google Scholar
• China Banking Regulatory Commission. (2017). Green credit data of 21 major banks from 2013 to Jun 2017. www.cbrc.gov.cn
   Google Scholar
• China Electricity Council. (2020). Power Industry Statistics 2019. www.http://english.cec.org.cn
   Google Scholar
• Climate Transparency. (2019). Managing the phase-out of coal A comparison of actions in G20 countries. https://www.climate-transparency.org
   Google Scholar
• Dai, Y., Haakonsson, S., & Oehler, L. (2020). Catching up through techno-economic paradigm shifts in an era of Green transformation. Empirical evidence from the Chinese wind energy sector. Industrial and Corporate Change, 29(5).
   Web of Science ®Google Scholar
• De Rambures, D., & Duenas, F. E. (2017). China’s financial system. Springer International Publishing. https://doi.org/10.1007/978-3-319-40451-6
   Google Scholar
• Dikau, S., & Volz, U. (2021). Out of the window? green monetary policy in China: Window guidance and the promotion of sustainable lending and investment. Grantham Research Institute on Climate Change and the Environment. London School of Economics and Political Science, Working Paper No. 360, 39.
   Google Scholar
• Dong, W., & Ye, Q. (2018). Utility of renewable energy in China’s low-carbon transition. Brookings. www.brookings.edu
   Google Scholar
• The Economist. (2018, 16 June). Solar energy. On the solarcoaster. https://www.economist.com/business/2018/06/14/can-the-solar-industry-survive-without-subsidies
   Google Scholar
• Energy Iceberg. (2020). How to harvest from China’s renewable asset sales: Subsidy-not-receivable the biggest threat. https://energyiceberg.com/
   Google Scholar
• Escalante, D., Choi, J., & Larsen, M. L. (2020). Green banking in China – emerging trends: With a spotlight on the Industrial and commercial Bank of China (ICBC). Climate Policy Initiative. https://www.climatepolicyinitiative.org/wp-content/uploads/2020/08/Green-Banking-in-China-Emerging-Trends-1.pdf
   Google Scholar
• FS-UNEP. (2018). Certified expert in climate and renewable energy finance. Unit 7: Renewable energy finance and their role of project finance. Unpublished course manuscript, Frankfurt am Main.
   Google Scholar
• FS-UNEP. (2020). Global Trends in Renewable Energy Investment 2020. https://wedocs.unep.org
   Google Scholar
• FTI. (2018). Global wind market update - demand and supply 2017. FTI Intelligence.
   Google Scholar
• Gallagher, K. P. (2019). China’s global energy finance. Global Development Policy Center, Boston University.
   Google Scholar
• Gallagher, K. S., & Qi, Q. (2018). Policies governing China’s overseas Development finance implications for climate change. Center for International Environment and Resource Policy, The Fletcher School, Tufts University, March, (016).
   Google Scholar
• Gallagher, K. S., & Qi, Q. (2021). Chinese overseas investment policy: Implications for climate change. Global Policy, 260–272. https://doi.org/10.1111/1758-5899.12952
   Google Scholar
• GWEC. (2018). Global Wind report: Annual market update 2018. Global Wind Energy Council.
   Google Scholar
• Hain, D. S., Jurowetzki, R., Konda, P., & Oehler, L. (2021). From catching up to industrial leadership: Towards an integrated market-technology perspective. An application of semantic patent-to-patent similarity in the wind and EV sector. Industrial and Corporate Change, https://doi.org/10.1093/icc/dtaa021
   Google Scholar
• IEA. (2019). Climate change. The energy sector is central to efforts to combat climate change. https://www.iea.org
   Google Scholar
• IEA. (2020). World Energy Investment 2020. https://www.iea.org
   Google Scholar
• IEEFA. (2017). China’s global renewable energy expansion. How the world’s second-biggest national economy is positioned to lead the world in clean-power investment. https://ieefa.org
   Google Scholar
• IEEFA. (2018). China 2017 Review. World’s Second-biggest Economy Continues to Drive Global Trends in Energy Investment. https://ieefa.org
   Google Scholar
• IEEFA. (2019a). IEEFA China: Lender of last resort for coal plants. https://ieefa.org
   Google Scholar
• IEEFA. (2019b). China at a crossroads: continued support for coal power erodes country’s clean energy leadership. https://ieefa.org
   Google Scholar
• IRENA. (2017). Renewable energy: a key climate solution. https://www.apren.pt
   Google Scholar
• IRENA. (2019). Global Energy Transformation. The Remap Transition Pathway. A Roadmap to 2050 (2019 Edition, background report). https://www.irena.org
   Google Scholar
• IRENA. (2021). Country Rankings. https://www.irena.org/Statistics/View-Data-by-Topic/Capacity-and-Generation/Country-Rankings
   Google Scholar
• Kaplan, S. B. (2016). Banking unconditionally: The political economy of Chinese finance in latin america. Review of International Political Economy, 23(4), 643–676. https://doi.org/10.1080/09692290.2016.1216005
   Web of Science ®Google Scholar
• Kong, B., & Gallagher, K. (2020). Chinese development finance for solar and wind power abroad. Global Development Policy Center. Boston University. http://www.bu.edu
   Google Scholar
• Kong, B., & Gallagher, K. P. (2017). Globalizing Chinese energy finance: The role of policy banks. Journal of Contemporary China, 26(108), 834–851. https://doi.org/10.1080/10670564.2017.1337307
   Web of Science ®Google Scholar
• Levin, K., & Fransen, T. (2015). With Latest Climate Commitments, How Will the World Warm? It’s Complicated. World Resources Institute. https://www.wri.org
   Google Scholar
• Li, D. (2019). China’s export insurance giant is taking a risk on coal Medium. www.medium.com/resource-china
   Google Scholar
• Li, Z., Gallagher, K. P., & Mauzerall, D. L. (2020). China’s global power: Estimating Chinese foreign direct investment in the electric power sector. Energy Policy, 136, 111056. https://doi.org/10.1016/j.enpol.2019.111056
   Web of Science ®Google Scholar
• Ma, J. (2020). Investment and financing models, Challenges and recommendations of renewable energy projects by Chinese companies in the belt and road Countries. Tsinghua PBCSF and Greenovation:Hub. www.ghub.org
   Google Scholar
• Mayer, B., Rajavuori, M., & Fang, M. M. (2017). The contribution of state-owned enterprises to climate change mitigation in China. Climate Law, 28(7).
   Google Scholar
• Moran, E. F., Lopez, M. C., Moore, N., Müller, N., & Hyndman, D. W. (2018). Sustainable hydropower in the 21st century. Proceedings of the National Academy of Sciences, 115(47), 11891–11898. https://doi.org/10.1073/pnas.1809426115
   PubMed Web of Science ®Google Scholar
• Murdock, H. E., Gibb, D., André, T., Appavou, F., Brown, A., Epp, B., … Sawin, J. L. (2019). Renewables 2019 Global Status Report. https://www.ren21.net
   Google Scholar
• Nielsen, T., Baumert, N., Kander, A., Jiborn, M., & Kulionis, V. (2020). The risk of carbon leakage in global climate agreements. International Environmental Agreements: Politics, Law and Economics, 21(2), 147–163.
   Web of Science ®Google Scholar
• Peoples’ Bank of China. (2019). Social financing scale statistics report (社会融资规模存量统计数据报告).
   Google Scholar
• Semieniuk, G., & Mazzucato, M. (2018). Financing Green growth. SOAS Department of Economics Working Paper No. 210. SOAS University of London. https://www.soas.ac.uk
   Google Scholar
• Shen, W. (2020). China's role in Africa's energy transition: A critical review of its intensity, institutions, and impacts. Energy Research & Social Science, 68, 101578. https://doi.org/10.1016/j.erss.2020.101578
   Web of Science ®Google Scholar
• Shen, W., & Power, M. (2017). Africa and the export of China’s clean energy revolution. Third World Quarterly, 38(3), 678–697. https://doi.org/10.1080/01436597.2016.1199262
   Web of Science ®Google Scholar
• Steffen, B. (2018). The importance of project finance for renewable energy projects. Energy Economics, 69, 280–294. https://doi.org/10.1016/j.eneco.2017.11.006
   Web of Science ®Google Scholar
• UNDP, UNEP, UNEP DTU and WRI. (2020). Implementing nationally determined contributions (NDCs). UNEP DTU Partnership Copenhagen.
   Google Scholar
• Voituriez, T., Yao, W., & Larsen, M. L. (2019). Revising the ‘host country standard’ principle: A step for China to align its overseas investment with the Paris agreement. Climate Policy, 19(10), 1205–1210. https://doi.org/10.1080/14693062.2019.1650702
   Web of Science ®Google Scholar
• Wang, H., Kitson, L., Gass, P., & Attwood, C. (2016). Wind Power in China: A cautionary tale. GSI Report. https://www.iisd.org
   Google Scholar
• Wang, T. (2019). Global solar companies based on market share of PV cell and module shipments 2018. https://www.statista.com
   Google Scholar
• Watson, R., McCarthy, H., Canziani, P., Nakicenovic, N., & Hisas, L. (2019). The Truth Behind the Climate Pledges. http://pure.iiasa.ac.at
   Google Scholar
• Watts, J. (2019, April 25). Belt and road summit puts spotlight on Chinese coal funding. The Guardian, p. 1.
   Google Scholar
• Wei, H., & Baxter, T. (2018). Belt and Road insiders: What we think about “greening” the initiative. Panda Paw Dragon Claw. Retrieved from pandapawdragonclab.blog.
   Google Scholar
• Zhou, L., Gilbert, S., Wang, Y., Cabré, M. M., & Gallagher, K. P. (2018). Moving the Green belt and road initiative: From words to actions. World Resources Institute and Global Development Policy Center.
   Google Scholar