Abstract:
The development of a green economy has long been constrained by financial challenges such as funding shortages, maturity mismatches, and the difficulty of pricing environmental risks. Traditional green finance instruments rely heavily on external policy interventions, which often lead to insufficient incentives and risk transmission issues. Interest-bearing e-CNY, leveraging its endogenous interest mechanism and programmable features, facilitates a paradigm shift in green finance—from externally driven tool empowerment to the reconstruction of foundational infrastructure. This study elucidates how e-CNY reshapes the incentive-compatible mechanisms and risk management frameworks within green finance from an operational perspective. Furthermore, it proposes constructing a collaborative green finance ecosystem platform underpinned bye-CNY . Finally, a tripartite implementation pathway is advanced, encompassing technical standard alignment, institutional compliance design, and phased market promotion.