Research On Financial Support For Carbon Emission Reduction In Northwest China Under The Guidance Of Green Development

In recent years,the acceleration of industrialization leads to the increase of carbon emission.It causes serious environmental problems,such as global warming.To solve the environmental problems,countries all around the world take active measures to reduce carbon emission.As a trustworthy and responsible country,China has also taken effective policies to reduce carbon emission under the guidance of green development.Green development emphasizes the coordinated and sustainable development of economy,society and ecology.Finance plays an important role in the process of green development.It is necessary to make good use of finance to reduce carbon emission.The economic development of Northwest China is dominated by industries with high pollution and high energy consumption.It is of great significance to explore the financial support for carbon emission reduction in Northwest China under the guidance of green development.According to the extended STIRPAT model,this paper selects financial scale,financial efficiency and green finance as the representative financial indicators.It constructs SAR and SEM spatial panel models to study the financial support for carbon emission reduction in Northwest China.The results show that the proposal of green development strategy fails to effectively enhance the financial support for carbon emission reduction in Northwest China.The expansion of financial scale can increase carbon emission in Northwest China,while the financial efficiency and the growth of green finance play a certain role in reducing carbon emission.On the basis of the above research,this paper proposes to reduce carbon emission in Northwest China from four aspects: expanding the financial scale to support the development of green economy;developing carbon finance to improve the efficiency of green finance;using financial resources to establish a green financial system;strengthening financial supervision to prevent the risk of carbon financial market.