Research On The Impact Of Green Credit On Energy Carbon Emission Efficiency

For a long time,economic development has brought about huge consumption of energy,leading to massive emissions of carbon dioxide and other greenhouse gases,causing serious climate change problems and threatening the survival and development of human beings.Therefore,alleviating the environmental pressure brought by economic development and achieving green,low-carbon sustainable economic development are important issues facing us nowadays.In the current situation of limited energy resources reserves,maximizing the use of existing energy and improving the efficiency of energy carbon emissions is a better way to solve the problem.As an important macro-control tool of the country,finance plays an increasingly important role in environmental governance.Green finance has both resource allocation function and environmental protection,which can promote financial resources to green industries,among which green credit,as the core product of green finance,plays an indispensable role in boosting.Therefore,it is important to study the influence effect of green credit on energy carbon emission efficiency.This study takes 30 provinces(autonomous regions and municipalities)as the research object,and takes 2010-2020 as the research period.Based on the combing of relevant domestic and foreign literature and the analysis of theoretical mechanisms,we use the threestage DEA model to calculate the energy carbon emission efficiency of each region,and then construct a Tobit regression model to analyze the influence effect of green credit on energy carbon emission efficiency and verify the intermediary effect of industrial structure optimization mechanism In addition,in order to further investigate the effect of green credit on energy carbon emission efficiency and to verify the mediating effect of industrial structure optimization mechanism,a Tobit regression model was constructed.In addition,to further investigate the effect of green credit on energy carbon efficiency,heterogeneity analysis was conducted for different regions and different levels of green credit.The results of the study indicate that:First,in the presence of external environment and random factors disturbing the energy carbon emission efficiency in China,the mean value is 0.72,and the lower pure technical efficiency is the main reason for the lower efficiency.Without the disturbance of external environment and random factors,the mean value of efficiency is 0.77,which is slightly improved from the first stage.Second,the efficiency of energy and carbon emissions is significantly affected by the external environment.Improving enterprise technology,increasing the level of investment in energy conservation and environmental protection,improving energy utilization,and increasing the population density of the region can reduce the redundancy of input factors and improve the efficiency of energy and carbon emissions.However,with or without the influence of external environment and random factors,Shanghai,Guangdong,Hainan,and Qinghai are always at the production frontier side of the energy carbon emission efficiency average,while Shanxi,Jilin,Inner Mongolia,and Liaoning are always at the bottom of the efficiency average ranking.Third,the improvement of green credit development level,the development of foreign trade and the increase of government intervention can promote the improvement of energy carbon emission efficiency,and green credit can also achieve the improvement of energy carbon emission efficiency by improving the level of industrial structure optimization.Fourth,the impact of green credit on energy carbon emission efficiency shows that the promotion effect on western economic region is greater than that on central and eastern economic regions,and the promotion effect on low green credit level group is slightly greater than that on high credit level group.