An Innovation System Analysis Of Green Digital Finance

Download or read book An Innovation System Analysis of Green Digital Finance written by Meiyu GUO and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The “Ant Forest” project has been launched since August 2016 as an innovative green digital finance venture by Ant Financial Services Group, a related company of Alibaba. It aims to encourage the mobile payment platform users to reduce carbon footprint by connecting their virtual identity to individual carbon savings account and providing carbon offset rewards through planting physical trees in Northwest China. By May 2018, Ant Forest had more than 350 million users. It has rapidly achieved impressive success as a green digital innovation in public participation, carbon reduction and tree plantings in China. This paper examines the process of innovating and learning during the development of this app and the project. Innovation system and multi-level perspective approaches are used to analyse the determinants and the consequences of this green digital innovation. The results show that the motivative design and effective leadership is the key to this success. Moreover, this emerging force from private sector for carbon reduction shed light on future directions for a “bottom-up” low-carbon transition.