Liu Zhonglu, He Shuguang, Li Wenting, Sun Haibo
School of Finance, Shandong Technology and Business University, Yantai, China.
School of Economics, Shandong Technology and Business University, 191 Binhai Middle Road, Laishan District, Yantai City, Shandong Province, China.
Environ Sci Pollut Res Int. 2023 Feb;30(10):26735-26751. doi: 10.1007/s11356-022-24011-7. Epub 2022 Nov 12.
Regarding the goal of "carbon peaking and carbon neutrality," an urgent practical problem is how green finance decreases carbon emissions. This paper uses the dynamic spatial Durbin model and China's provincial panel data to empirically test the impact of green credit on carbon emissions. The results show that green credit effectively curbs carbon emissions, and has significant spatial spillover effects on the carbon emissions. In the short run, the spillover effects of green credit on carbon emissions are greater than the direct effects, but in the long run, the direct effects of green credit on carbon emissions are greater than the spillover effects. The mechanism test finds that upgrading industrial structure is an important transmission channel for green credit to affect carbon emissions, and energy consumption only plays a part of the intermediary role in the direct impact of green credit on carbon emissions. However, green credit has not achieved the goal of carbon emission reduction by promoting low-carbon technology innovation.
关于“碳达峰、碳中和”目标，一个紧迫的现实问题是绿色金融如何降低碳排放。本文运用动态空间杜宾模型和中国省级面板数据，实证检验绿色信贷对碳排放的影响。结果表明，绿色信贷有效抑制了碳排放，且对碳排放具有显著的空间溢出效应。短期内，绿色信贷对碳排放的溢出效应大于直接效应，但从长期来看，绿色信贷对碳排放的直接效应大于溢出效应。机制检验发现，产业结构升级是绿色信贷影响碳排放的重要传导渠道，能源消费在绿色信贷对碳排放的直接影响中仅起到部分中介作用。然而，绿色信贷尚未通过促进低碳技术创新实现碳排放减少的目标。
