Research On The Impact Of Green Credit On Environmental Pollution In China

In the past few decades,China’s economy has been growing at a high speed,but under the boom,ecological and environmental problems have been ignored.Today,China no longer sees high economic growth as its sole goal.The past model of over-exploitation of resources to stimulate economic development is gone.The sustainable development of economy and the improvement of environmental pollution are the current problems.Green finance is one of the ways to reduce environmental pollution in the current economic system.It naturally has the characteristics of promoting economic development and improving environmental pollution.It is the cross-derivative of environmental science and financial economics.Green finance can use financial instruments to solve the problems of difficult financing and high financing cost of green industries,and gradually replace backward industries with green and efficient industries,so as to restore and improve the ecological environment.Under the above background,this paper firstly sorts out the theories and literatures related to green credit and environmental pollution at home and abroad,then analyzes and collates the data of green credit and environmental pollution in 30 provinces in China,and finally uses the dynamic panel data model and panel threshold model to make an empirical analysis from the perspective of China as a whole,different geographical locations and different pollution levels.In addition to introducing basic variables to verify the direct mechanism of action,two variables of technological innovation intensity and energy intensity are also introduced to test the mediating effect.The results show that green credit has a control effect on environmental pollution,and its direct mechanism has been verified.In addition,this paper confirms the heterogeneity of the effect of green credit on environmental pollution and the nonlinear relationship between green credit and environmental pollution.Finally,it is confirmed that energy intensity and technological innovation intensity are mediating variables,energy intensity strengthens governance effect,while technological innovation intensity inhibits governance effect,and the indirect mechanism of action is also verified.On the basis of the above conclusions,this paper puts forward some suggestions: establish a green credit sharing platform and unify data standards;Increase green credit and implement differentiated policies;We will improve the credit supervision mechanism and cultivate people’s awareness of green development.