Has Green Finance Development Reduced Carbon Emission Intensity?

With the rapid development of the world economy,problems such as climate warming and resource scarcity are becoming more and more serious,and problems such as unreasonable industrial structure and low resource utilization efficiency are becoming more and more prominent.The focus of attention is that China’s industrialization process is accelerating.As a developing country with the largest carbon emission intensity in the world,it is urgent to realize the transformation of industrialization and innovation.Since the beginning of the 21st century,China has assumed its responsibilities as a world power,and has begun to emphasize scientific development and green development,and has continued to reduce its domestic carbon emission intensity.China’s economy is in a period of rapid growth.To solve the environmental protection problems of economic growth and carbon emissions,my country must develop an environment-friendly economy.The development of green finance is the key means to achieve the goal of environmental protection development.Therefore,how to improve green financial capabilities,promote green innovation,and optimize industrial structure has become the key to promoting energy conservation and emission reduction and building green finance in my country.Investigating the impact of green finance development on carbon emission intensity and its mechanism of action will help to evaluate China’s green finance development level and its carbon emission reduction effect,and also provide important references for developing green economy and building a green finance development system.Through theoretical analysis and literature review,this thesis proposes the view that green finance can reduce carbon emission intensity through two paths of green technology innovation and industrial structure optimization,and uses panel data to conduct an empirical analysis of the impact path.Step-by-step testing in the process of empirical analysis:overall analysis of green finance and carbon emission intensity,analysis of the moderating effect of fiscal decentralization on the reduction of carbon emission intensity by green finance,green technology innovation of green finance on carbon emission intensity,and industrial structure Optimize the impact mechanism analysis.The empirical analysis results show that:(1)The overall development of green finance has significantly reduced carbon emission intensity and improved my country’s environmental quality.(2)Fiscal decentralization plays a significant role in regulating the development of green finance to reduce carbon emission intensity,which will slow down its mechanism of action.(3)Through the mediation effect model,the mediation effect of green technology innovation and industrial structure optimization is tested,and the mediation effect is significantly established.Therefore,green technology innovation and industrial structure optimization are the main paths that affect the reduction of carbon emission intensity.(4)In the eastern and central regions,regions with a high degree of green finance development,and regions with a low degree of fiscal decentralization,the impact of green finance development in reducing carbon emission intensity is more obvious.(5)Foreign direct investment(FDI)is negatively correlated with carbon emission intensity.The increase of foreign investment is conducive to the reduction of regional carbon emission intensity;while energy structure(Ener),environmental regulation(Envr),and population density(Dens)There is a positive correlation with carbon emission intensity,leading to an increase in carbon emission intensity.Based on the empirical analysis results of this thesis,the proposed measures mainly include:(1)Promote the development of green finance and help achieve the dual carbon goal.(2)Vigorously develop green technology and promote the upgrading and optimization of industrial structure.(3)Improve the fiscal decentralization system and improve the regional performance appraisal system.(4)Adjust the energy consumption structure and encourage the introduction of foreign investment.