The Impact Of Financial Development On Carbon Dioxide Emissions In China's Industrial Sector

Solving the problem of carbon emissions is still a historic challenge for our country.Relevant statistics show that more than 80% of China's carbon emissions come from China's industrial sector.The key to achieving the emission reduction target is to effectively control the emission levels While finance can precisely use its own functional advantages to support various ways of energy conservation and emission reduction,which indirectly or directly affects the carbon emissions of the industrial sector.This paper sorts out related researches on environmental pressures at home and abroad,financial development and carbon emissions.Based on this,it discusses related theories of financial development and analyzes the unique functions of finance and financial development on the mechanism of carbon reduction in industry.Explained the financial development on the one hand through the support of technological innovation affect the path of emission reduction,on the other hand,through the guidance of industrial restructuring affect the path of emission reduction.Based on this theory,this paper analyzes the Granger causality between the two time series of financial development and industrial carbon emission reduction by constructing a VAR model;it also introduces other factors that affect industrial carbon emissions such as economic growth,The variables such as energy consumption intensity,industry structure,investment intensity of R&D expenditure,and total industrial output value constitute the panel data for 2005-2015.Using the STRIPAT model to analyze the impact of financial development and other factors on the carbon emissions of the industrial sector,it was found that financial development and carbon emissions from the industrial sector The relationship was "U" type,and the technological innovation represented by R&D expenditures and the intensity of energy consumption also had a great impact on carbon emissions,indicating that China still needs to continue to strengthen the development of the financial industry,especially carbon finance,to support industrial carbon emission reductions.