Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces

Dealing with the relationship between environment and economic development is the core issue of China’s sustainable development. At present, China’s economic transformation is urgent, and green finance is being widely concerned. This paper measured the development level of China’s green finance from...

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Autores principales:	Xi Chen, Zhigang Chen
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	green finance carbon emission spatial spillover effect mediating effect China Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/fade1c8d9cf44a82b3d701b82fd80a36
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spelling	oai:doaj.org-article:fade1c8d9cf44a82b3d701b82fd80a362021-11-11T19:45:37ZCan Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces10.3390/su1321121372071-1050https://doaj.org/article/fade1c8d9cf44a82b3d701b82fd80a362021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/12137https://doaj.org/toc/2071-1050Dealing with the relationship between environment and economic development is the core issue of China’s sustainable development. At present, China’s economic transformation is urgent, and green finance is being widely concerned. This paper measured the development level of China’s green finance from the perspective of green credit, green securities, green investment, and green insurance. Then, it used a spatial dynamic panel model to empirically test the mechanism of the impact of green finance on carbon emissions with panel data of 30 Chinese provinces from 2005 to 2018. The following can be seen from the results: (1) The development of green finance contributes to carbon emission reduction. (2) The spatial spillover effect of green finance is significant. Specifically, the development of green finance can not only reduce the carbon emissions of the local region but also inhibit that of adjacent areas. (3) The development of green finance indirectly leads to a decrease in carbon emissions by reducing financing constraints and boosting green technology innovation. In order to stimulate the carbon emission reduction effect of green finance to a greater extent, we should further support the development of green finance, reduce the financing constraints of energy-saving and environmental-protection enterprises, and encourage the research and development of green innovative technologies.Xi ChenZhigang ChenMDPI AGarticlegreen financecarbon emissionspatial spillover effectmediating effectChinaEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12137, p 12137 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	green finance carbon emission spatial spillover effect mediating effect China Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	green finance carbon emission spatial spillover effect mediating effect China Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Xi Chen Zhigang Chen Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces
description	Dealing with the relationship between environment and economic development is the core issue of China’s sustainable development. At present, China’s economic transformation is urgent, and green finance is being widely concerned. This paper measured the development level of China’s green finance from the perspective of green credit, green securities, green investment, and green insurance. Then, it used a spatial dynamic panel model to empirically test the mechanism of the impact of green finance on carbon emissions with panel data of 30 Chinese provinces from 2005 to 2018. The following can be seen from the results: (1) The development of green finance contributes to carbon emission reduction. (2) The spatial spillover effect of green finance is significant. Specifically, the development of green finance can not only reduce the carbon emissions of the local region but also inhibit that of adjacent areas. (3) The development of green finance indirectly leads to a decrease in carbon emissions by reducing financing constraints and boosting green technology innovation. In order to stimulate the carbon emission reduction effect of green finance to a greater extent, we should further support the development of green finance, reduce the financing constraints of energy-saving and environmental-protection enterprises, and encourage the research and development of green innovative technologies.
format	article
author	Xi Chen Zhigang Chen
author_facet	Xi Chen Zhigang Chen
author_sort	Xi Chen
title	Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces
title_short	Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces
title_full	Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces
title_fullStr	Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces
title_full_unstemmed	Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces
title_sort	can green finance development reduce carbon emissions? empirical evidence from 30 chinese provinces
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/fade1c8d9cf44a82b3d701b82fd80a36
work_keys_str_mv	AT xichen cangreenfinancedevelopmentreducecarbonemissionsempiricalevidencefrom30chineseprovinces AT zhigangchen cangreenfinancedevelopmentreducecarbonemissionsempiricalevidencefrom30chineseprovinces
_version_	1718431445608824832

Can Green Finance Development Reduce Carbon Emissions? Empirical Evidence from 30 Chinese Provinces

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