An Empirical Study On The Impact Of Green Credit On Carbon Emission Reduction

In the face of environmental pollution,green development has become a common concern of all countries,China has also actively responded to climate change,and green and low-carbon development has continuously achieved results.The report of the 20 th National Congress mentioned that in the new era,promoting green and low-carbon economic and social development is the key link to achieve high-quality development.We must keep up with the pace of development of the times,promote the construction of a green development system,and actively explore a new green industrial path.Resources are limited,in order to achieve inexhaustible use,it is necessary to strengthen the construction of a resource-saving society,economic development to avoid only pursuing fast,but to integrate the standards of resource conservation and environmental protection into the requirements of social development.Green credit is a policy aimed at improving the environment and reducing carbon emissions,and the proposal of green credit meets the requirements of today’s social development.China’s green credit policy has been continuously updated and improved since 2007,and has made breakthrough development.How effective is the implementation of green credit,and can it effectively promote the reduction of carbon emissions? To answer this question,this paper uses provincial panel data from 2008 to 2020 in 30 provinces in China(excluding Hong Kong, Macau,Taiwan and Tibet)to empirically analyze the impact of green credit and carbon emissions from the perspective of industrial structure optimization and technological innovation.In this paper,an intermediary effect model is constructed to measure the intermediary effect between green credit and carbon emission reduction,and divides the eastern,central and western regions due to the different geographical location,resource conditions and economic development degree of each province to test whether there are differences in the effects of green credit on carbon emission reduction in different regions.The results show that,first,there is a significant negative relationship between green credit and carbon emissions,indicating that green credit can effectively suppress carbon emissions in various provinces.Second,industrial structure optimization and technological innovation have obvious intermediary roles in the process of green credit affecting carbon emissions,indicating that green credit can achieve carbon emission reduction by optimizing industrial structure and promoting technological innovation.Third,through heterogeneity regression,it is found that the inhibitory effect of green credit on carbon emissions is most significant in the central region,followed by the eastern region,but has no obvious effect on the western region.Finally,based on the research conclusions,relevant policy suggestions are put forward from accelerating the establishment of green credit standardization,increasing the innovation of green credit tools,promoting green technology innovation capabilities,promoting the green transformation and upgrading of various industries,and developing green credit in regional differentiation.