Research On The Spatial Effect Of Green Finance Development On Carbon Emissions

The goal of "carbon peak and carbon neutrality",as well as the Paris Agreement on Climate Change,have raised higher requirements for China’s participation in global climate governance and the development of a low-carbon economy.The priority of low-carbon economy is to improve the level of green innovation,industrial transformation and clean energy development,and develop green finance.Since the 1970 s,an increasing number of countries have attached importance to environmental protection,developed green technologies,formulated future action plans,and used financial instruments to promote sustainable development.Under the government’s support,Chinese green finance ushered in the development opportunity.Green finance promotes environmental protection and governance,guides resources from industries with high energy consumption and high pollution to low-carbon and technologically advanced sectors,and achieves the goal of "carbon peak and carbon neutrality" through green finance.Firstly,the financial industry promotes environmental and social sustainability,and secondly,it realizes the sustainable development of finance itself.At present,China’s green finance policy is making steady progress.In the fields of green credit,green bonds and green funds,China is committed to achieving the goal of "carbon peak and carbon neutrality".Green finance has become an effective way to promote green innovation and achieve high-quality economic development.This paper calculates the carbon emission and green finance development level of 30 provinces and municipalities from 2011 to 2021,uses the carbon emission structure decomposition analysis from the perspective of narrow consumption to explore the main influencing factors and spatial characteristics of carbon emission level,and focuses on green finance development to achieve low carbon emission reduction effect.To investigate whether green finance is beneficial to restrain the increase of carbon emissions from time and space dimensions.Simultaneously,the influence mechanism of green finance development on carbon emission intensity was analyzed from the perspectives of industrial structure sustainability,industrial structure upgrading,industrial structure rationalization and energy structure.The results showed that both carbon emission and green finance were on the rise,and energy intensity effect and per capita GDP effect were the main factors affecting carbon emission level.China’s overall carbon emissions show a strong negative spatial spillover effect,that is,when the carbon intensity of neighboring provinces decreases by 1%,the carbon intensity of the province increases by 0.96%.The development of green finance can inhibit the carbon emission intensity of the province and its neighboring provinces.The results of mechanism analysis show that the development of green finance promotes the sustainability of industrial structure,the upgrading of industrial structure and energy structure,and restrains carbon emission.Supporting the development of green finance and adjusting the industrial structure and energy structure are effective ways to achieve the goal of "carbon peak and carbon neutrality".