Research On The Impact Of Green Finance On Carbon Emissions

The goal of "carbon neutral,carbon peak" puts forward higher requirements for China’s carbon emission reduction work.The report of the 20 th National Congress of the Communist Party of China pointed out that promoting green development and promoting harmonious coexistence between human beings and nature.Respecting,adapting to,and protecting nature is essential for building China into a modern socialist country in all respects.Carbon emission reduction requires support from various aspects such as policies,funds,and technology.Green finance plays an important role in reducing carbon emissions.In the report of the 20 th National Congress of the Communist Party of China,the development of China’s green economy was comprehensively deployed.At the same time,the continuous introduction of green financial policies has gradually established a multi-level and comprehensive green financial regulatory system,laying the foundation for achieving the dual carbon goal..This paper studies the impact of green finance on carbon emissions in 30provinces(cities,autonomous regions)from 2010 to 2020.Firstly,a green finance evaluation system with nine indicators was constructed from five dimensions,including green credit,green insurance,green investment,green securities,and carbon finance,and the green finance development index of 30 provinces(cities,autonomous regions)was calculated.On the whole,the comprehensive index of green finance development in all provinces(municipalities and autonomous regions)has been improving from 2010 to 2020.Secondly,according to the IPCC inventory method,the calculation of carbon emissions shows that the overall growth rate of China’s carbon emissions has slowed down,indicating that the work of reducing carbon emissions has achieved certain results,but there are differences between regions.The order of carbon emissions from high to low is the eastern,central and western regions,and the annual growth rate of carbon emissions from low to high is the eastern,central and western regions.Finally,we build a panel data model to empirically study the impact of green finance on carbon emissions in China.The results show that the development of green finance in China will significantly inhibit the rise of per capita carbon emissions,and the inhibition of green finance on per capita carbon emissions will decrease in the order of west,central and east.The intermediary effect test results show that the intermediary effect between green technology innovation and energy consumption structure mechanism of green finance in reducing carbon emissions per capita is relatively obvious.Green finance can utilize green technology innovation and optimize energy consumption structure to further improve the impact of carbon emissions on the environment.