Study On The Functional Mechanism Of Green Credit And Green Development

With the emergence of environmental problems in the process of economic growth,China attaches great importance to the ecological environment and has issued various policies to solve environmental problems.Under the background,the concept of green development has gradually emerged and expanded rapidly.Along with the enhancement of social responsibility of China's banking industry,the motivation to actively support supply-side structural reform has also increased.In this process,green finance plays an important role in environmental governance,and the development of green credit is deepening gradually.The mechanism of green credit on green development has naturally become an important research content.Through combing the concepts of ecological economy,sustainable development,green economy and so on,the paper draws the particular connotation of green development;and then through combing the related research of green development,it draws the current research progress of green development.Similarly,this paper summarizes the research progress of green credit,and then proceeds from the current situation of green credit and green development to analyze the specific process of green credit's effect on green development.The functional mechanism of green credit and green development mainly covers four aspects:(1)The precondition of green credit acting on green development is that banks are willing to provide green credit,which is mainly judged by green credit supply model and the extension conditions.(2)Green credit plays an important role in green development through six mechanisms,namely,fund support mechanism,emphasizing investment areas;development-oriented mechanism,emphasizing resource-inclined areas;scale effect mechanism,emphasizing cost and production scale;risk aversion mechanism,emphasizing the contradiction between high requirements of risk control and current situation;signal transmission mechanism,mainly in first-mover advantage of receiving signals;two-way feedback mechanism,emphasizing the interaction between green credit and green development.And must be careful that there are correlations among the six mechanisms.(3)The indirect effect of green credit on green development mainly covers five aspects: pollutant emissions,ecological industry,biodiversity,technological innovation and government policy support.The first three indirect effects mainly emphasize that green credit indirectly influences the content of green development through six direct mechanisms.The latter two indirect effects emphasize the role of green development through diffusion effect on the basis of the above three indirect effects.(4)There are three paths of action,namely,micro-path,macro-path and industrial path.Then through the correlation between green credit emission reduction indicators and green credit,it further proves the micro-path of green credit to promote green development.Finally,the article puts forward countermeasures and suggestions along with main tasks for the shortcomings.The innovative point of this paper is to study the specific mechanism of green credit on green development from a new perspective,so as to contribute to the promotion of green development.