“双碳”背景下数字金融对碳排放影响分析

Analysis of the impact of digital finance on carbon emissions under the“dual carbon”background

文章采用中国31个省份2008—2020年面板数据,构建计量模型,系统分析了数字金融发展水平与碳排放强度之间的关系,并探讨了影响机制和作用路径。主要研究发现:数字金融发展与碳排放呈现“倒U型”非线性关系,即发展初期会加剧碳排放,但超过一定临界点后,其减排效应逐步显现。数字金融与能源结构、产业结构等因素存在显著交互影响,这些因素的协同将加速减排进程。从传导路径看,数字金融可通过提高金融服务效率、优化资源配置和促进绿色投资等渠道实现间接减排,但其基础设施建设和相关活动亦会产生一定的直接碳排放。

This paper uses panel data from 31 provinces in China from 2008 to 2020 to construct an econometric model and systematically analyze the relationship between the development level of digital finance and carbon emission intensity,and explores the influencing mechanisms and pathways.The main research findings are as follows:The development of digital finance and carbon emissions show a non-linear“inverted U-shaped”relationship,meaning that in the initial stage,it will exacerbate carbon emissions,but after exceeding a certain threshold,its emission reduction effect will gradually become apparent.Digital finance has a significant interactive effect with factors such as energy structure and industrial structure,and the synergy of these factors will accelerate the emission reduction process.In terms of transmission pathways,digital finance can indirectly achieve emission reduction by improving financial service efficiency,optimizing resource allocation,and promoting green investment,but its infrastructure construction and related activities will also generate some direct carbon emissions.