绿色金融改革政策的碳减排效应

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Abstract By using the difference in difference method, this study attempts to address the question of whether green finance reform policy has carbon emission reduction effects and the mechanism of it. By devoting attention to the green finance reform pilot area, panel data of 280 prefecture-level Chinese cities from 2013 to 2019 is used. This study finds that the green finance reform policy has a significant carbon emission reduction effect, and this effect is increasing yearly. Through the mechanism analysis, the results show that the realization of carbon emission reduction mainly depends on reduction of energy consumption intensity and improvement of green technology innovation. In addition, the green finance reform has a positive spillover effect-the effect of carbon emission reduction could radiate to the surrounding areas. Regrettably, green finance cannot be effectively linked to the synergistic effect of multi-pollutant reduction. This study suggests to expand the pilot areas, increase incentives and guidance for green finance entities, and enhance the synergistic effects of green finance policies.

Key words： green finance reform policy carbon dioxide emission difference in difference method

Received: 19 March 2022

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X196

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	GAO Yuan
	Shen Zhen-zhen

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GAO Yuan,Shen Zhen-zhen. The role of green finance reform policy in carbon reduction[J]. CHINA ENVIRONMENTAL SCIENCECE, 2022, 42(10): 4849-4859.

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http://www.zghjkx.com.cn/EN/ OR http://www.zghjkx.com.cn/EN/Y2022/V42/I10/4849

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