Does Green Credit Improve Environmental Pollution?

Facing the increasingly serious problems of resource restriction and environmental pollution,our country began to attach importance to the development of green economy and to push forward the construction of resource-saving and environment-friendly society.In recent years,as an important economic means to implement environmental protection policy,green finance has been widely concerned.The report of the 19th National Congress of the Communist Party of China clearly points out that we should speed up the development of green finance and promote the development of green economy.In 2007,the People's Bank of China and other three departments issued a joint paper,requiring the implementation of environmental protection policies in the field of credit,marking the formal implementation of China's green credit policy.As the most important part of the green finance system,the green credit policy has been implemented in China for more than ten years.How the green credit affects the sustainable development has become a hot issue for scholars at home and abroad,however,the existing studies pay more attention to the relationship between Green Credit and economic development,industrial structure,ignoring the impact of green credit on improving China's environmental pollution.Based on the theory of sustainable development and the theory of financial supply-side structural reform,this paper studies the effect of green credit on improving environmental pollution,this paper studies the effect mechanism of green credit policy on improving environmental pollution from two aspects of industrial structure optimization and technology innovation by literature analysis method,and analyzes the present situation of green credit and environmental pollution combined with charts.On this basis,the panel data of 30 provinces(except Tibet)from 2007 to 2017 are selected,and the fixed effect model is used to analyze the impact of green credit on environmental pollution,the results show that green credit has a significant negative effect on the emission intensity of "three wastes",which indicates that the implementation of green credit policy has improved environmental pollution in China to a certain extent.At the same time,according to the difference of economic development degree and Midwestern Sectional Figure Skating Championships,the environmental effect of green credit is compared and analyzed,environmental pollution is more sensitive to green credit policies in regions with higher levels of economic development,and green credit has a stronger incentive to improve environmental pollution than Midwestern Sectional Figure Skating Championships,the effect of green credit policy on reducing pollution emission is more obvious in the eastern region.In addition,in order to further study how green credit affects environmental quality,this paper sets up two intermediary effect models,which respectively study the effect of technological progress and industrial structure optimization mechanism,it shows that green credit can improve environmental problems through two mechanisms of technological innovation and industrial structure optimization.Therefore,we should further improve the green credit policy,increase the proportion of green credit,increase green credit to support technology innovation,so as to improve environmental pollution and promote sustainable economic.