绿色金融的碳减排效应及影响渠道研究

The Carbon Emission Reduction Effect of Green Finance Development and Its Impact Pathways

基于环境库兹涅茨曲线(EKC),采用2011—2019年中国282个城市面板数据,实证分析中国绿色金融发展对碳排放的影响及其作用渠道,研究发现,中国绿色金融发展显著抑制了碳排放。异质性检验显示,上述抑制作用具有区域差异,对中部地区碳排放抑制效应最明显,对东部地区碳排放抑制效应不显著。从作用渠道来看,绿色金融通过优化能源消费结构和实质性绿色技术创新有效抑制了碳排放,但策略性绿色技术创新没有发挥碳减排效应。因此,建议健全绿色低碳融资体系,支持能源消费结构优化,引导实质性绿色技术创新,以此推动碳减排目标实现。

Based on the environmental Kuznets curve(EKC) and panel data of 282 cities in China in the period 2011-2019,this study empirically analyzed the impact of green finance development on carbon emissions in China and the impact pathways.It was found that China’s green finance development significantly curbs carbon emissions.The heterogeneity test revealed regional differences in the inhibitory effects on carbon emissions: The effect is the most significant in the central region, but it is insignificant in the eastern region.For the impact pathways, green finance has effectively curbed carbon emissions by optimizing energy consumption structure and through substantive green technology innovation.However, strategic green technology innovation does not show a carbon emission reduction effect.Therefore, it is important to improve the green and low-carbon financing system, support the optimization of the energy consumption structure, and guide substantive green technology innovation in order to promote the achievement of carbon emission reduction targets.