Research On The Impact Of Green Finance On Carbon Emissions

In the process of China’s social development,the consumption of resources is increasing and the environment is getting worse.In this case,China has put forward new development ideas,adhered to green and sustainable development,and constantly changed to low-carbon development mode.Therefore,China is in urgent need of improving its carbon emission reduction capacity.Green finance is the key policy instrument for reducing carbon emiss.In many policy documents and working meetings emphasized that we will vigorously develop green finance and improve its support for reducing carbon emissions.Based on this,through to the domestic and foreign related literature combing,has carried on the preliminary discussion to both relations,and then makes a theoretical analysis of the mechanism of green finance affecting carbon emissions,and puts forward corresponding research hypotheses.Secondly,the data of 30provinces(municipalities and autonomous regions)in China from 2011 to 2020 were selected to measure the development level and carbon emission intensity of green finance in China,and the current situation was analyzed according to the data results.After that,the proposed theoretical mechanism is empirically verified,and the research is carried out from the overall level of China,a fixed-effect model is constructed to explore its direct impact,and an intermediary effect model is constructed to study the indirect impact of green finance through industrial structure upgrading.Secondly,the research is carried out locally,considering the impact of green finance on carbon emissions in different regions of China,mainly from the geographical region divided into east,central and western regions,economic level division and green technology innovation level division three aspects to carry out research;Finally,the SDM model is constructed to study its spatial spillover effect.The empirical results show that the development of green finance in China will promote carbon emission reduction,and there is an intermediary effect of 31.77% industrial structure upgrading.There is regional heterogeneity in the impact of green finance on carbon emission reduction,and the impact effect of different regions is different,and the role is more significant in the eastern region,the economically developed region and the region with high level of green technology innovation.Green finance can significantly reduce the carbon intensity of the region,but also the carbon intensity of the surrounding area.Finally,according to the research conclusions,some policy suggestions are made:carry out efficient development in combination with regional characteristics,increase the support of green finance for the upgrading of industrial structure,promote the upgrading of industrial structure to lead the development of low-carbon economy,improve the level of green technology innovation,and strengthen regional economic cooperation.