Carbon peak and carbon neutrality of tourism: does the green finance matter?

Purpose Since tourism activities exacerbate global climate change and the ongoing green transformation in global finance, this study investigates the relationship between green finance and tourism carbon emission efficiency to provide novel theoretical foundations and practical guidance for tourism low-carbon transition. Design/methodology/approach This study establishes a theoretical framework analyzing green finance’s impact on tourism carbon emission efficiency, followed by empirical verification through econometric modeling. Findings Green finance significantly enhances tourism carbon emission efficiency, with particularly pronounced effects observed in eastern regions and government-led green initiatives. The underlying mechanisms operate through scale optimization, structural upgrading and technological innovation. Furthermore, a single-threshold effect exists, beyond which the marginal enhancement effect diminishes. Practical implications This study provides policymakers with novel theoretical foundations and practical guidance for facilitating low-carbon transition in the tourism sector amid the financial green transformation. Originality/value This study pioneers examining green finance–tourism nexus through the lens of tourism carbon emission efficiency.