Research On The Impact Of Green Finance Policies On The Credit Structure Of Commercial Bank

Green finance is an important means and guarantee for achieving the dual carbon goal by 2020.In the green finance system,green credit is an effective green finance tool,which guides financial resources to low-carbon,energy-saving,environmental protection and other fields by conducting environmental risk assessment and classification management of enterprises and projects,establishing different credit policies and standards,thus promoting economic structure adjustment and industrial upgrading.At the same time,green credit can also use the role of financial leverage to encourage enterprises to strengthen environmental management,improve resource utilization efficiency and reduce pollution emissions.This paper aims to explore the impact of green credit on commercial bank credit structure.If commercial banks lend more to green industries,it will have important practical significance for achieving the dual carbon goal and ultimately provide strong support for promoting China’s green finance development and coping with climate change challenges.Based on the unbalanced panel data of 56 Chinese commercial banks from 2007 to 2021,this paper applies a multi-time-point double-difference method to study the impact of green finance policy on commercial bank credit structure and its industry components within a unified theoretical framework.The empirical results show that:(1)For the whole sample bank study,under the influence of green finance policy,bank credit structure significantly shifts towards green enterprises.(2)Regarding the industry components of credit structure,green finance policy can significantly reduce the proportion of credit pollution in manufacturing and mining industries,but increase it in energy industry to some extent.(3)The group empirical results show that there are heterogeneous effects of green finance policy on different regions,different sizes and different ownership commercial banks’ credit structure.The main contributions of this paper are:(1)This paper focuses on China’s green finance policy and commercial banks’ actual development status,systematically studies how green finance policy affects commercial banks’ credit structure within a unified theoretical framework,and empirically studies it based on data.(2)In addition to analyzing how green finance policy affects commercial banks’ credit structure,this paper further analyzes how it affects each component part of their credit structure from both theoretical and empirical perspectives.(3)Finally,based on analyzing how green finance policy affects commercial banks’ credit structure and its components,this paper also analyzes how it affects different regions,different sizes and different ownership commercial banks’ credit structure and its components.Combining current situation,theoretical analysis and regression results,this paper discusses how commercial banks play an active role in social environment.This paper provides suggestions from three levels : government,financial institutions and industrial sectors : First,government should strengthen institutional construction of green finance system,take responsibility for two roles : institutional subject role governance subject role.Second,banking financial institutions should actively undertake social responsibility,carry out differentiated development according to social conditions.Third,enterprises should actively cooperate with policies guidance,accelerate comprehensive transformation.