Research On The Path Of Local Green Financial Development

The Fifth Plenary Session of the 18 th Party Congress put forward the five development concepts of“innovation,coordination,green,openness,and sharing”.For the first time,the“green”development has been elevated to the national strategic height.However,to implement the goal of building an ecological civilization and promote the development of a green economy,it is not enough to rely solely on the role of the government,“the 'invisible hand' and 'visible hand must be used'”,the government and the market must complement each other.Green finance came into being and was put on the important topic of structural innovation in financial innovation and supply.Jiangsu Province is one of China's economically developed provinces,and it is also a province with large carbon emissions.Therefore,the study of the development path of the province's green finance has a certain reference value for forming an experience that can be extended to the whole country.This paper first analyzes the needs of Jiangsu's development of green finance from the carbon emission characteristics of Jiangsu Province and the industrial structure ratio.Second,it constructs a green financial evaluation system that is adapted to the characteristics of Jiangsu Province and selects a series of green financial and green financial Quantitative indicators of development in all aspects,on the basis of which,the relevant indicators are screened and systematically categorized,and a comprehensive index is formed through weighted processing and other methods.Using the above-mentioned comprehensive index,the green development status of 30 provinces and cities across the country and the green financial development index of Jiangsu and Shanghai were tested.The results show that the construction of ecological cities in Jiangsu's green economy indicators is weak,which is also the focus of follow-up;green Among the financial development indicators,green financing ratios such as green credit and green bonds are relatively high,but green investment and carbon market-related indicators are relatively weak,and green insurance is at an initial stage.Is the implementation of a green finance strategy in Jiangsu Province truly conducive to the development of energy-saving and emission-reducing,low-carbon economy? This paper empirically studies the relationship between green credit and low-carbon economy to represent the relationship between green financial products and the development of green economy.Taking the carbon emissions per unit of GDP as the dependent variable,the green credit balance accounts for the proportion of total bank loans.As an independent variable,the least-squares OLS and linear regression analysis were conducted.The results showed that green credit has a significant role in promoting low-carbon economic growth.Finally,considering that the main body of implementation of green finance is a financial institution,this paper starts from the four perspectives of banking,securities asset management,insurance,and carbon finance to explore the development path of green finance in Jiangsu Province.Through the analysis of the status quo of the development of green finance in Jiangsu Province,existing problems,and future development priorities,identify the green financial development path suitable for Jiangsu Province,provide a path based on the financial industry for the development of green finance in our local provinces.