Research on the accelerating effect of green finance on the transformation of energy consumption in China

In the face of global climate change, accelerating the transformation of energy consumption is key. This paper constructs intermediary effect and threshold effect models to empirically test the impact mechanism of urbanization on energy consumption transformation. The results show that an increase in the urbanization rate can reduce energy consumption. The development of green finance helps improve the traditional energy consumption structure dominated by fossil energy consumption through the intermediary effect. When the urbanization rate enters the high threshold range, the negative impact of green financial development on fossil energy is significantly enhanced. The research conclusion shows that with continuous improvement in the urbanization rate, the development of green finance can accelerate the transformation of traditional energy consumption, which is conducive to the realization of the goals of “reaching carbon peak by 2030 and carbon neutrality by 2060″ proposed by the Chinese government.