Empirical analysis of the influence mechanism of green finance on carbon emission reduction

Abstract

As the global climate problem continues to intensify, environmental governance issues have been attached importance by all countries. Building a complete green finance context system is an important means to reduce carbon emissions. In the context of the green, low-carbon and circular economy system, the state focuses on the development of green finance and green technology innovation, and takes the promotion of high-quality development of green finance as the primary goal. The realization of carbon emission reduction requires the support of the capital chain provided by green finance, so this study is of great significance. Therefore, the data of 30 provinces and cities in China (except Xizang) from 2010 to 2020 are used to build a panel data model systematically. Through the analysis of the intermediary effect model, the robustness test of the analysis results is carried out, and the correlation between green finance and carbon neutrality is proved by empirical analysis. The results show that the level of green finance development reduces carbon emissions with technological innovation as the intermediary factor.