Green Finance Development On Regional Carbon Emissions Empirical Study Of Influence

Global warming,especially the greenhouse effect caused by massive carbon dioxide emissions,has become the focus of international concern.In the past half century,with the rapid economic development of various countries,the total global carbon emissions have been on the rise.China,the world’s second largest economy,is also the largest carbon emitter.With the proposal of "carbon peak" and "carbon neutral" goals,China has also accelerated the pace of transformation from extensive economic development model to low-carbon green development,and put forward new requirements for carbon emission reduction.Therefore,financial institutions have introduced green financial instruments such as green credit and green bonds in response to the needs of the development of The Times.Therefore,it is of great practical significance to study the impact of green finance on carbon emission reduction in economically developed East China.Firstly,this paper reviews and summarizes the domestic and foreign literature related to green finance and carbon emissions.Secondly,it qualitatively analyzes the mechanism of the impact of green finance on carbon emission reduction from the theoretical level and puts forward relevant hypotheses.Finally,on the basis of measuring green finance development index and carbon emissions,based on the provincial panel data of East China,this paper establishes spatial Durbin model to empirically analyze the direct and spatial spillover effects of green finance on carbon emissions.Through the analysis and research,the following conclusions are drawn: 1.The green financial development in East China is generally fluctuating in an upward trend with the change of time series,but there are obvious regional differences,among which Shanghai and Zhejiang have a high level of green financial development,while Jiangxi and Fujian lag behind.2.Green finance development and carbon emissions have significant spatial correlation.With the change of time series,high-high and low-low clustering phenomena appear.3.The direct effect and spatial spillover effect of green finance development are significant,that is,the high level of green finance development in this province will not only reduce the carbon emissions of this province,but also reduce the carbon emissions of neighboring provinces and cities.