Research On The Impact Of Regional Green Financial Development On Carbon Emission

Since the reform and opening up,China’s rapid economic and social development has brought great pressure on the carrying capacity of resources and environment.Under the new economic normal,China adheres to the path of green and sustainable development,speeds up the transformation to a low-carbon economy,and actively responds to global climate issues.The goal of "carbon neutralization and carbon peak" puts forward higher requirements for China’s carbon emission reduction.Carbon emission reduction needs policy,capital and technology support.As an important policy tool,green finance plays an important role in improving the efficiency of emission reduction.In many work conferences and policy documents in China,it is clearly emphasized to vigorously develop green finance,guide green technology innovation,and improve the support of green finance for low-carbon and high-quality development.Green finance and technological progress provide important financial and technical support for the development of low-carbon economy,and are the key to improving the efficiency of carbon emission reduction.Based on this,firstly,this paper combs the relevant theories and research literature of green finance,technological progress and carbon emission.Through the lack of research on the relationship between the three in the existing literature,this paper takes technological progress as an intermediary variable into the study of the impact of green finance on carbon emission.Secondly,it analyzes the current situation of China’s overall and regional green finance,technological progress and carbon emission.Among them,due to the availability of data,this paper calculates green finance development level and carbon emission intensity in 30 provinces from2010 to 2019.Then,through the reasoning of the impact mechanism,this paper puts forward research hypotheses,constructs an intermediary effect model,and empirically studies the direct impact of China’s overall and regional green financial development on carbon emissions and the indirect impact through technological progress.The results show that the overall development of green finance in China will inhibit the rise of carbon emission intensity,and there is an intermediary effect of technological progress of 27.71%.In the eastern and central regions,there is a direct negative impact of green finance on carbon emission intensity,and there are intermediary effects of technological progress,which are 22.69% and 7.4% respectively.The direct and intermediary effects in the western region are not significant.Finally,based on the conclusions of the research,there are four suggestions to promote the breakthrough and innovative development of green finance,scientific and technological progress to lead the development of low-carbon economy,increase the support of green finance for technological progress,and achieve efficient development in combination with regional characteristics,in order to improve the efficiency of carbon emission reduction and promote the coordinated development of green finance,low-carbon economy and regions.