Impact Of Green Credit On Carbon Emission Intensity

In the context of globalization,the climate is warming and the problem of resource depletion is becoming more and more serious.The green and low-carbon transformation to promote economic development is imminent.As an important indicator to measure the economic development and carbon emission level of a country or region,carbon emission intensity can more comprehensively reflect the carbon emission relative to the level of economic development.It is of great significance to coordinate social carbon dioxide emission reduction goals.Relying on financial leverage,green finance can accelerate the low-carbon transformation of economic development through financing,targeted industrial support and other means.As the most important part of green finance,green credit can increase the financing cost of industries with high energy consumption and high pollution,and encourage enterprises to carry out green technology innovation activities.In theory,it can reduce carbon emission intensity by optimizing energy structure and promoting green technology innovation.Based on this,this paper uses the panel data of 30 provinces,autonomous regions and municipalities in China from 2009 to 2018,and firstly uses the panel data model to conduct a full-sample analysis on the impact of green credit on carbon emission intensity.Then,the heterogeneity analysis was carried out for the three regions of east,middle and west.Finally,the mediation effect model is used to further explore the impact mechanism of green credit on carbon emission intensity from the perspectives of energy structure and green innovation.The research results show that:First,green credit can significantly reduce my country’s carbon dioxide emission intensity.Under different estimation methods,every 1%increase in the proportion of green credit can lead to a decrease in carbon dioxide emission intensity of 0.46%-0.63%.Second,the carbon emission reduction effect of green credit shows obvious heterogeneity.The carbon emission reduction effect of green finance is only significant in the eastern region,but not in the central and western regions.Third,green credit only reduces the intensity of carbon dioxide emissions by optimizing the energy structure,and the role of green innovation channels is not significant.Finally,according to the research results,this paper puts forward targeted policy suggestions on how to better play the role of green credit in reducing my country’s carbon emission intensity.