Research On Financial Support For Low Carbon Economy Development In Hubei Province

From the United Nations Climate Change Convention to the Kyoto Protocol to the Paris Agreement,in order to solve the global warming caused by greenhouse gases,the development of a low-carbon economy has become the world consensus.As a party to the Paris Agreement,my Government has promised the world that by 2020,carbon dioxide emissions per unit of GDP will be reduced by 40%-45% compared to 2005.The Chinese government is actively pursuing energy conservation and emission reduction and developing a low-carbon economy.Finance is the core of the economy,and it is also the hub that drives the rational allocation of social resources.It plays an important role in the social production and life.Financial support not only provides the much-needed capital costs of a low-carbon economy,but also promotes capital concentration and shifts to a low-carbon economy.As a typical industrial city,Hubei Province has an unreasonable industrial structure,huge energy demand and high dependence on energy.Developing a low-carbon economy is a new direction for Hubei's economic development.As one of the five provinces and eight cities in the “low carbon economy” pilot cities in 2010 and the only carbon emission market provinces and cities in central China,Hubei Province has important theoretical and practical significance for researching financial support for the development of low carbon economy in Hubei Province.As a three-in-one economic form of economy,system and technology,the low-carbon economy is the innovation of energy technology and energy-saving emission reduction technology and the innovation of economic system.It is essentially a social development model with low energy consumption,low pollution and low emissions.Financial support promotes the development of low-carbon economy through the role of the central bank's monetary policy at the macro level,the role of financial entities and carbon finance operating mechanisms at the meso level,and the guiding role of enterprises and consumers at the micro level.The industrial structure of Hubei Province is dominated by the secondary industry,and the energy consumption structure is dominated by coal.The pollution source is higher than the national average,but the pollution control measures arelower than the national average.In terms of financial support for the development of low-carbon economy in Hubei Province,Hubei has made some achievements in developing policies and regulations for low-carbon economy,carbon emission market construction,carbon finance development,and financial support for low-carbon technologies,but financial support for low-carbon economy in Hubei Province There are still many problems in the development process.This paper selects the indicators of low carbon economy and financial support in Hubei from 1998 to 2017 and builds a model.It finds that financial support in Hubei Province plays a positive role in promoting the development of low carbon economy.At the same time,low carbon economy can also counteract the financial development of Hubei Province.In response to the lack of financial support in the development of low-carbon economy in Hubei Province,Hubei Province should further improve relevant laws and regulations,policy support systems,technical support systems,expand financial institutions such as commercial banks,and increase financial institutions' participation in the carbon market.Degree and enthusiasm.