Study On The Influence Of Green Finance On Carbon Emission Under The Background Of Double Carbon

In 2021,the Central Finance and Economics Committee,General Secretary Xi Jinping said that it is indispensable to integrate carbon dioxide into the overall planning of eco-civilization and endeavor to reach the carbon dioxide crest by 2030 and carbon dioxide neutralization by 2060.This has something to do with the long term growth of our nation and the establishment of a common future for humanity.Hence,we ought to implement the new development conception,take the economic and social transition as the guidance,insist on the green and low carbon concept,and insist on the high quality development path.Along with the progress of finance industry,green finance has become an significant instrument to comprehend the aim of green and low carbon transition in China.On account of the logos of green development,green finance accelerates reformation and innovation in the financial sector by promoting green investment,providing green financial services,and creating green financial products.It can coordinate economy,environment,society,and so on,so as to enhance energy efficiency and achieve the target of reducing carbon emissions.Through the research on the mechanism of green finance and carbon emission,we can get a better comprehensibility of the development of green finance in thirty regions and the impact of the approaches taken to reduce carbon footprint.It will be helpful to develop green finance’s guidance and service function for constructing perfect green finance institution and promoting the transition and development of economy.According to the data of 30 Chinese provinces from 2009 to 2020,a synthetic index of green finance is built by entropy method.Set up the green monetary sector from the five dimensions and reckon the advancement level of green finance in each province and city.Next,carbon dioxide intensity in different areas are reckoned on the strength of the IPCC Inventory Method.Then,the system GMM model is built.The results show that: First,there is negative correlation between green finance and carbon emission,which shows that green finance can reduce carbon emissions,enhance economic development quality and environmental protection.Second,from the perspective of impact mechanism,green finance expands energy demand and consumption through economic growth path,thus increasing carbon emissions;Optimize production technology through technological progress path to cut down emissions.Through the optimization of the energy mix,the development of clearer energy,the step-down of fossil fuels consumption,and the decrement of carbon dioxide.In the end,based on the former theoretical footing and the empirical demonstration,the paper put forth the conclusion of the study and the related strategies and recommendations,and states briefly the limitations of the study.Currently,there is a mass of research on the influence of finance development on emissions,and the theory foundation is quite complete.Nevertheless,the investigation on the repercussion of green finance on carbon dioxide and the path machine-made is not profound enough.This thesis probes the net effect of green finance on carbon dioxide from the perspective of economic growth.The analysis of the specific impact path of green finance on carbon dioxide emissions from three aspects of technological progress and energy structure optimization is innovative and can further enrich and supplement the existing literature.