Research on the Carbon Emission Reduction Effect of Green Finance:Empirical Analysis Based on Interprovincial Panel Data in China
With the rapid development of economy and the promotion of industrialization,environmental problems are becoming more and more serious.The rapid growth of carbon dioxide emissions contributes to global warming and extreme weather,so it's urgent to take action to reduce carbon emissions and China is committed to green development.As an important tool in the green and low-carbon transition,green finance has emerged in the public's view step by step.Based on the panel data of 30 provinces from 2012 to 2021,the entropy method is used to measure the level of green finance and the measurement method proposed by IPCC is used to measure the level of carbon emission.The research also constructs a fixed-effect model to carry out an empirical analysis on the effect of green finance on carbon emission reduction.The research shows that the development of green finance can significantly reduce the per capita carbon emission,that is,green finance has a significant positive effect on carbon emission reduction,and the conclusion still holds true after three robustness tests,but there is good heterogeneity in the effect of green finance on carbon emission reduction in eastern,central and western regions of China at different economic levels.Finally,some suggestions on developing green finance and promoting carbon emission reduction are put forward.
green financecarbon emission reduction effectcarbon emission
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