Research On The Impact Of Financial Technology Development On Carbon Emission

The deterioration of the ecological environment caused by global climate change,the threat to the living environment of residents located on islands,the increase of natural disasters,and the reduction of food production have attracted close attention from countries around the world.The main cause of global climate change is the emission of greenhouse gases,represented by carbon dioxide.Faced with increasingly severe environmental problems,China has taken various measures to reduce carbon emissions.In recent years,the combination of emerging technologies represented by blockchain,big data,artificial intelligence,and cloud computing with finance has led to significant changes in the traditional financial industry,forming the category of financial technology.Financial technology has effectively promoted the improvement of efficiency in the financial industry and the reduction of financing costs,effectively reshaping the financial industry.In 2022,the People’s Bank of China released the "Financial Technology Development Plan(2022-2025)",which clearly stated the requirements for green and low-carbon development and entrusted new missions to the development of financial technology.On the new journey of comprehensively building a socialist modernized country,it is worth looking forward to whether financial technology can contribute to the achievement of the dual carbon goal.This article first sorts out and summarizes relevant literature on the development history of financial technology,the application of cutting-edge technologies,related impact effects,and the influencing factors and mechanisms of carbon emissions,and elaborates in detail the direct and indirect impacts of financial technology development on carbon emissions.On this basis,it also analyzes the development of China’s financial technology and carbon emissions.This paper constructs the measurement indicators of Fintech development and calculates the relevant data.Using the panel data of 30 provinces in China from 2011 to 2020,it empirically studies the impact of Fintech development on carbon emissions and its impact path by establishing the fixed effect model and intermediary effect model of the panel data.The research results show that:(1)The development of financial technology can significantly inhibit carbon dioxide emissions,and the robustness test results are good.(2)When analyzing panel data by economic development level and region,this inhibitory effect still exists,showing different inhibitory effects across different levels of economic development and regions.(3)The development of financial technology can curb carbon emissions through technological innovation,but the upgrading of industrial structure shows a masking effect.Finally,based on the above research conclusions,this paper puts forward corresponding policy recommendations to provide some reference for promoting the development of financial technology and playing its role in carbon emissions.