Research On The Development Of Green Finance In Anhui Province Under The Target Of Carbon Neutrality

In order to deal with the increasingly prominent global environmental problems,and to achieve the goals of China’s economic green transformation,sustainable social development and a better ecological environment,in September 2020,the Chinese government proposed the goal of carbon neutrality by 2060.Since then,carbon neutralization has become the top priority of China’s economic development.As the core of today’s low-carbon economy,green finance is an important booster to achieve the goal of carbon neutrality;At the same time,the establishment of the carbon neutral target also makes further requirements for the development of green finance in China.At present,China’s green finance is showing a trend of prosperity and development on the whole.However,due to different regional factors,the development of green finance varies in different regions.Therefore,in the new era,it is particularly important to explore the development of green finance in specific regions.In recent years,Anhui Province has made some achievements in the development of green finance,but there are still many problems.Therefore,based on the carbon neutral goal,this paper explores the development of green finance in Anhui Province,aiming to enrich the research on the development of green finance in specific regions of China to a certain extent,and at the same time,it is intended to promote the improvement of the green financial system in Anhui Province,provide ideas for relevant research in other regions,so as to promote the realization of the carbon neutral goal in China.On the basis of combing relevant domestic and foreign literature,this paper defines the concepts of carbon neutrality and green finance,and expounds the mechanism of green finance affecting carbon neutrality from three aspects of economic growth,science and technology and industrial structure,while explaining relevant theories.Secondly,from five aspects of green finance,namely green credit,green securities,green insurance,green investment and carbon finance,this paper discusses the current situation and problems of green finance development in anhui province.After that,the index system was constructed and the entropy method was used to calculate the development level of green finance in Anhui Province from 2009 to 2020.Then,taking it as the core explanatory variable,and taking the per capita carbon emissions of Anhui Province as the explanatory variable,using cointegration test,var model and spatial measurement model to explore the relationship between the two,and finally draw the following conclusions:(1)The development level of green finance is the Granger reason for the change of per capita carbon emissions,and there is a long-term stable and weak negative correlation between them.(2)From the impulse response,the development level of green finance has improved the per capita carbon emissions in the first two periods,and then the improvement disappears,and then becomes a weak inhibition.(3)From the variance decomposition results,the contribution of green finance to per capita carbon emissions change is very low due to its own shortcomings.(4)From the state space model,the inhibition of green finance on per capita carbon emissions is weak,but it is also gradually strengthening.Finally,based on the empirical conclusion,from the five aspects of green finance again,the paper puts forward reasonable suggestions for the development of green finance in Anhui Province.