How do the carbon emission trading prices affect the financing decision of the supply chain considering carbon neutrality?

This paper considers a supply chain formed by a manufacturer with constrained capital and a retailer with sufficient capital. By using the Stackelberg game theory, we discuss the manufacturer's and retailer's optimization decisions for bank financing, zero-interest early payment financing, and in-house factoring financing under both normal and carbon neutrality scenarios. In the carbon neutrality scenario, numerical analysis shows that improving the efficiency of emission reduction drives manufacturers to switch from external to internal financing methods.