Research On The Impact Of Financial Development On Energy Consumption And Carbon Emissions From The Perspective Of Urbanization

After more than 40 years of reform and opening up,China has developed into the world's second largest economy and the largest energy consumer and carbon emitter.At the same time,urbanization has also developed rapidly.In terms of scale,China's urbanization development speed far exceeds the level of developed countries in the same period,but in terms of quality,there is still a large gap between China's urbanization level and developed countries.Although urbanization brings a high-speed economic growth dividend,it is also accompanied by a large amount of energy consumption and serious environmental pollution.In the process of rapid urbanization,financial development has also played a vital role.On the one hand,financial development not only effectively eased the financing dilemma faced by urban infrastructure construction,but also promoted urban industrial development and economic growth,thereby promoting the entire urbanization process.On the other hand,in the context of urbanization,infrastructure construction and high-emission industries have received strong financial support,which also reflects the problems of China's financial development that emphasizes high economic benefits over environmental benefits.It can be seen that financial development has a direct and indirect impact on urbanization and the energy environment.China has entered a critical period of economic and social transformation,advocating green and sustainable economic development and effectively responding to energy and environmental issues.Under this background,research on integrating urbanization,financial development,and the energy environment into the same framework to clarify the impact of financial development on the energy environment has positive theoretical value and reality for exploring the realization path of sustainable development of green finance and even economic society significance.This paper builds a comprehensive indicator system that comprehensively measures financial development and urbanization and uses structural equation models to integrate financial development,urbanization,and the energy environment into a framework for research.The results of the study indicate that,overall,the scale of the financial industry is a key indicator that determines the level of financial development;population and economic indicators are the key indicators that determine the level of urbanization;financial development has a direct or indirect negative impact on the energy environment;In terms of regions,the level of financial development decreases from the east to the middle and then to the west,while the urbanization level in the east is higher than that in the middle and west,and the difference between the middle and west is not obvious;the energy intensity gradually increases from east to west;The difference between the indicators of theeastern provinces is the largest;there is a certain correlation between financial development and urbanization,and there is a strong correlation between energy intensity and carbon dioxide intensity;the higher the level of financial development and urbanization,the higher the energy efficiency and emission efficiency.Finally,based on the above conclusions,two Suggestions are put forward to further broaden the financing channels of urban infrastructure construction and promote the market-oriented transformation of bank-dominated financial system.