数字金融应用于碳交易市场的减排效应

Emission reductioneffect of digital finance in carbon trading market

基于北大数字普惠金融指数和2011—2022年中国30个省的面板数据,运用固定效应模型与中介效应模型,实证检验了数字金融覆盖广度、使用深度、数字化程度对企业碳排放的影响及内在机制。研究表明数字金融及其3个维度均能显著降低地区碳排放,且通过增加碳配额交易和自愿减排交易,进而扩大碳交易规模的传导渠道来促进地区减排降碳。异质性分析发现:由于不同地区经济发展水平、数字基础设施和政策扶持力度有所区别,数字金融在东部地区、经济发达地区和非资源省份对碳排放的抑制作用更加明显。对此,应进一步深化数字金融在碳交易市场中的应用,加强数字金融赋能绿色创新的政策引导,并根据地区特征制定针对性的制度措施助力区域协同减排。

Based on the Peking University Digital Financial Inclusion Index and panel data for 30 provinces in China from 2011-2022,the fixed effect model and intermediary effect model were used to empirically test the impact of digital finance coverage breadth,use depth and digitization degree on corporate carbon emissions and its internal mechanism.Research shows that digital finance and its three dimensions can significantly reduce regional carbon emissions,and promote regional carbon reduction by increasing carbon quota trading and voluntary emission reduction trading,and the transmission channels of carbon trading scale will be expanded to promote regional carbon reduction.Heterogeneity analysis found that:due to the differences in economic development level,digital infrastructure and policy support in different regions,digital financial in the eastern region,economically developed area and non-resource province has a more obvious inhibition effect on carbon emissions.In this regard,the application of digital finance in the carbon trading market should be further deepened,the policy guidance of digital finance enabling green innovation should be strengthened,and targeted institutional measures should be formulated according to regional characteristics to help regional collaborative emission reduction.