Impact of sci-tech finance policy on carbon neutrality technology innovation
Carbon neutrality technology innovation is crucial for addressing climate change and achieving carbon neutrality.In the face of huge investment demand,there remains uncertainty regarding whether the sci-tech finance policy of 'promoting the integration of technology and finance through pilot projects' could facilitate innovation in carbon neutrality technology,and solutions to this issue are insufficient in existing research.This study utilized panel data from 277 prefecture-level and above cities in China from 2006 to 2021 to comprehensively measure the innovation in carbon neutrality technology from three aspects:low-carbon technology,zero-carbon technology,and negative emission technology.The study also took the implementation of sci-tech finance policy as a quasi-natural ex-periment and used the double or debiased machine learning method to explore the impact and mechanisms of the sci-tech finance poli-cy on carbon neutrality technology innovation.The results showed that:① The implementation of sci-tech finance policy significantly promoted carbon neutrality technology innovation.Specifically,it promoted innovation in low-carbon and zero-carbon technology more obviously,mainly reflected in the relevant carbon emission departments related to energy utilization and industrial production process-es.However,for innovation in negative emission technology,the promotion effect still had significant room.② Mechanism tests found that the implementation of sci-tech finance policy promoted carbon neutrality technology innovation through two channels:increasing government technology investment and enhancing technology talent aggregation.③ Heterogeneity analysis indicated that for developed cities,non-resource-based cities,and cities with high levels of intellectual property protection,the implementation of sci-tech finance policy significantly promoted carbon neutrality technology innovation.Based on these findings,the following policy recommendations are proposed:① The implementation of sci-tech finance policy should be adaptively adjusted according to the type and stage of innova-tion to meet the development needs of carbon neutrality technology innovation.② Affected by the external conditions of different types of cities,fully leveraging the effectiveness of sci-tech finance policy needs to focus on green transformation and upgrading of industries as well as the improvement of intellectual property protection systems.This study provides theoretical support and empirical evidence for evaluating the impact of sci-tech finance policy on carbon neutrality technology innovation.
万方数据
维普
