Research On The Impact Of Green Credit On Carbon Emission

With the rapid development of economy,technology,science and opening up to the outside world,China is also getting better and better at energy development and utilization,but this has also brought a series of potential risks to China.As we all know,the mode of long-term and high-speed economic growth will inevitably bring high pollution and high energy consumption.China is now facing such a problem precisely because of China’s extensive development mode,and with global warming,the global consensus has become to reduce greenhouse gas emissions,the relationship between green finance and sustainable economic development,and with the deepening of the concept of green development,the need for in-depth discussion.Green credit is the largest and most representative green financial instrument issued among green financial products at present.Green credit can promote the production and development of green enterprises through financial means so as to promote the transformation and upgrading of enterprises with high energy consumption and high pollution through indirect means and force such enterprises to develop green economy.It is an important way to support the construction of ecological civilization.Therefore,Green credit will play an important role in promoting the green growth of China’s economy.Using the statistics of green credit and carbon emissions in 30 provinces and cities of China from 2008 to 2019,this paper studies the mechanism of green credit on carbon emissions.The empirical results show that:(1)green credit and carbon emissions are negatively correlated,that is,green credit can significantly inhibit carbon emissions.(2)For different carbon emission levels and green credit levels,the impact on carbon emissions is consistent with the overall impact.(3)Green credit indirectly restrains carbon emissions through structural effects and scale effects,but not through technical effects.Therefore,Green credit indirectly affects carbon emissions through structural effects and scale effects,and ultimately reduces carbon emissions.(4)R&D investment and human capital exhibit characteristics that are negatively related to carbon emissions,that is,they are conducive to curbing carbon emissions,and foreign trade levels are positively related to carbon emissions,that is,they lead to an increase in carbon emissions.In the end,based on an empirical study,the full text is summarized and policy recommendations are put forward:(1)Improve the level of green credit development,give full play to the positive role of the two in carbon emission reduction.(2)Promote economic development and industrial structure optimization and upgrading,and promote the development of green economy.(3)Increase research and development investment and cultivate talents to reduce our country’s carbon emissions.