时间：2026年6月24日（周三）上午10:30-12:00

地点：承泽园246

Abstract: Supply side climate policies restrict finance for carbon intensive infrastructure, but their effectiveness depends on whether targeted projects are replaced. We study the global retreat from overseas coal finance using a project level database of 1,952 overseas coal and 2,884 overseas gas power projects, with manually classified cancellation reasons. Financing restrictions accelerated cancellations of planned overseas coal capacity and advanced the sector’s emissions peak. Yet these gains were weakened by substitution: financing related cancellations were followed by new overseas coal, overseas gas, and local coal capacity. These channels offset 43 percent of emissions reductions and slowed wind adoption in developing host countries. The results highlight that supply side climate policy can reduce targeted fossil investment, but its aggregate effectiveness is limited when policy coverage is incomplete and substitute clean energy finance is insufficient.

Bio: Lin Zhang is a Full Professor at City University of Hong Kong, and an Associate Director for the Institute of Global Governance and Innovation for a Shared Future. He has been appointed as a panel member of RAE 2026 by UGC Hong Kong, and serves as the editor for The Energy Journal. His research, focused on sustainability, utilizes economic and interdisciplinary methods to seek policy solutions to energy and environmental sustainability from interdisciplinary lenses. He has published over 100 papers in many journals such as PNAS, Journal of Development Economics, Journal of Environmental Economics and Management, European Economic Review. His work has been cited in policy papers of international organizations such as the WTO, EU, OECD, etc. Prof. Zhang earned his bachelor’s degrees from Peking University, and MSc and PhD degrees from ETH Zurich.