The Impact Of Financial Structure Optimization On Carbon Dioxide Emission

China is facing the pressure of continuous growth in CO₂emissions,and the financial structure plays an important role in achieving the goal of reducing CO₂emissions.This article aims to explore how optimizing the financial structure can help reduce CO₂emissions and proposes corresponding policy recommendations.Based on a review of literature and basic theory,statistical analysis is used to show the current status of CO₂emissions in China and the region,and econometric methods are used to analyze the impact of financial structure optimization on CO₂emissions.Firstly,the direct impact of financial structure on CO₂emissions is discussed,using the ratio of direct financing to indirect financing as a financial structure indicator,and a panel fixed-effects model is used to test whether"financial structure optimization can reduce CO₂emissions".Secondly,the impact mechanism of financial structure optimization on CO₂emissions is studied,and a mediation model is used to test whether"financial structure optimization can suppress CO₂emissions through technological innovation".Finally,the threshold effect of financial structure on CO₂emissions is studied,and a panel threshold model is used to test"how financial structure optimization affects CO₂emissions under different levels of technological innovation".The financial structure indicator is replaced,and the system GMM model is used for robustness testing,and the LDMI decomposition method is used to mitigate the endogenous problem caused by technological innovation.This article draws the following conclusions:firstly,financial structure optimization can effectively suppress CO₂emissions,but there is regional heterogeneity;secondly,financial structure optimization can produce a mediation effect through technological innovation,which affects CO₂emissions,but there is also regional heterogeneity;third,under the constraint of technological innovation,there is a threshold effect between financial structure and CO₂emissions.Financial structure optimization shows a trend of promoting and then suppressing CO₂emissions,indicating that financial structure optimization can only play a role in reducing emissions when technological innovation reaches a certain level.Based on the research content,policy recommendations are proposed:increase the proportion of direct financing,optimize the financial structure,strengthen funding support for technological innovation,and promote the adaptability matching between financial structure and technological innovation.Finally,there is a rebound effect of financial structure optimization on carbon dioxide emissions,then the reduction of emissions can only be achieved when the reduction effect is greater than the rebound effect caused by financial structure optimization.