“双碳”目标下金融科技的碳减排效应与绿色政策的调节作用研究

Carbon Emission Reduction Effect of FinTech and the Moderation Effect of Green Policy under the Background of Carbon Peaking and Carbon Neutrality Goals

基于“双碳”目标约束和金融科技赋能高质量发展的时代背景下,研究金融科技的碳减排效应具有重要的现实意义。本文采用我国2011-2019年地级市面板数据,考察了金融科技的减排作用与绿色政策的调节作用。研究发现金融科技可以降低城市的碳排放强度,且呈显著的地域异质性,该结论在内生性及稳健性检验后依然成立;机制检验显示,金融科技通过促进企业创新、推动绿色金融发展助力城市减排;进一步分析发现,绿色政策的试点与环境目标的约束均对金融科技的减排作用存在正向调节作用。以上结论为如何利用金融科技与政策工具服务“双碳”目标、推进节能减排提供了有益启示。

Based on the background of carbon peaking and carbon neutrality goals constraint and high-quality development of FinTech, it is of great practical significance to study the carbon emission reduction effect of FinTech. This paper examines the emission reduction effect of FinTech and the regulatory role of green policies by using the panel data of prefecture level cities in China from 2011 to 2019. It is found that FinTech innovation can reduce the carbon emission, and the effect shows significant regional heterogeneity. The conclusion is still valid under the endogenous and robustness tests. The mechanism test results show that FinTech innovation contributes to urban carbon emission reduction by promoting enterprise innovation and the development of green finance. Further analysis found that the pilot of green policies and the constraints of environmental goals have a positive guidance on the emission reduction effect of FinTech. The above conclusions provide useful enlightenment on the ways of using FinTech and policy tools to serve the carbon peaking and carbon neutrality goals and promote energy conservation and emission reduction.