Research On The Carbon Reduction Effect And Mechanism Of Green Finance Developmen

With the global climate warming and environmental problems becoming increasingly serious,there has been a worldwide consensus to reduce the emissions of greenhouse gases such as carbon dioxide.The high emission of greenhouse gases and the high consumption of energy have a bad impact on people’s living environment.At the same time,it is also restricting the high-quality development of our economy.In December 2020,at the Central Economic Work Conference,it was clearly proposed that we should strengthen financial support,accelerate the adjustment of industrial structure and energy structure and the development of new energy,and establish and improve the dual control system of carbon emissions and energy consumption.In such an environment with the goal of achieving carbon peak,carbon neutrality and other green development,green finance will be an important direction for China’s financial development and construction in the future.It is of profound practical significance to clarify the relationship between green financial development and carbon dioxide emissions.In addition,an in-depth analysis of the relationship between carbon emissions and green finance development in China’s provinces will help the government to carry out targeted macro-control and provide some reference for formulating a set of financial policies conducive to reducing carbon dioxide emissions.This paper mainly studies the carbon emission reduction effect and mechanism of green finance development from both theoretical and empirical aspects.In theory,this paper systematically combs the research on the relationship between the development of green finance and carbon emissions at home and abroad.Through combing and integrating relevant research documents,the concept and measurement of green finance and carbon emissions are clarified;Secondly,it discusses the theoretical basis of relevant fields and the development status of relevant variables,which lays a solid foundation for better promoting the development of green finance;Thirdly,the relationship between the development of green finance and carbon emissions in China is comprehensively analyzed and discussed.It is believed that the development of green finance has a significant inhibitory effect on reducing carbon dioxide emissions;Finally,the carbon emission reduction mechanism of green finance development is analyzed from the perspective of industrial structure adjustment and technology upgrading.In the empirical aspect,this paper uses the panel data of 30 provinces in China from 2005 to 2020 to build a model to study and analyze the carbon emission reduction effect and mechanism of green finance development in China.In addition,based on the analysis of the overall conclusion of China,we will further analyze the heterogeneity of the carbon emission reduction effect of China’s high and low level of marketization and the development of green finance in the eastern,central and western regions.Finally,the following conclusions are drawn:(1)There is a significant negative correlation between the development of green finance and carbon emissions,that is,the development of green finance can effectively reduce carbon emissions.(2)The development of green finance can effectively promote technology upgrading and industrial structure optimization,and then play a role in carbon emission reduction.(3)At present,the development of green finance in China is not mature enough,the overall level needs to be improved,and there are differences between regions with different levels of marketization and economic development.We need to make up for these deficiencies by deepening the development of green finance and other ways,so as to continue to play the emission reduction effect of green finance development.Finally,based on the theoretical analysis and empirical results,the following enlightenment is drawn: the government should continue to promote the development of green finance,establish a perfect green financial system,and constantly improve its incentive mechanism,information disclosure standards,etc.In addition,we should strengthen the support for industrial structure upgrading and technological progress,force traditional enterprises to transform and upgrade,and improve the rationalization of industrial structure;Encourage enterprises to increase investment in research and development and improve their ability of independent innovation to lead the low-carbon development of the innovative economy.At the same time,we should formulate differentiation strategies based on regional characteristics to drive the coordinated development of green finance and ecological environment.Finally,strengthen international exchange and cooperation,adjust the structure of import and export trade,give full play to the role of technology spillovers,and vigorously promote China’s energy conservation and emission reduction.