Study On Implementation Effect Of Green Credit In Yangtze River Delta Based On VAR Model

With the rapid development of global economy,problems of resources and environment have become increasingly prominent,the limited resources and infinite development leads to the sharp contradictions between environmental problems and economic development,and its resolve cannot do without financial support.In February 1995,the people's Bank of Chinese issued the relevant supporting policy about environmental protection credit,so far it has been about twenty years,understanding and analysis of the implementation effect and related problems is helpful to improve China's green credit system,so as to better support the environmental protection work.In this paper,the Yangtze River Delta industrial waste gas emissions is selected as the green index to measure the quality of the environment,using the VAR impulse response function to analyze the response path of environmental quality in Yangtze River Delta to the impact of green credit and the response path of green credit to the impact of environmental quality,as well as the effect of implementation of green credit in Yangtze River Delta region to the improvement of environmental quality.The study results show that at the early stage of green credit,the atmospheric environmental quality in Yangtze River Delta has been improved obviously.However,in recent years,the overall situation is still not optimistic,emissions of PM2.5 and PM10 from the most cities in Yangtze River Delta have never come up to the national standard.All levels of government and relevant departments in Yangtze River Delta still need to do something from the system foundation construction,supervision and accountability mechanism plus relevant incentives,so as to strengthen the green credit system construction,and to establish the lasting and efficient green financing mechanism.