School of Economics and Management, Xinjiang University, Urumqi, 830046, China.
Institute for Energy Carbon Neutrality Strategy and Decision-Making of Xinjiang, Xinjiang University, Urumqi, 830046, China.
Environ Sci Pollut Res Int. 2024 Jan;31(3):3582-3597. doi: 10.1007/s11356-023-31463-y. Epub 2023 Dec 12.
As a resource production factor in environmental governance activities, can green credit help reduce smog pollution? Based on China's provincial panel data from 2006 to 2019, this paper empirically tests the impact of green credit on smog pollution by using an OLS regression model and a spatial Durbin model. The results show that green credit helps to reduce smog pollution overall; Industrial structure upgrading and green technology innovation are two critical paths for green credit to reduce smog pollution. The analysis of period heterogeneity finds that the descending effect of green credit on smog pollution becomes more significant after the transformation of China's economic development stage. The regional heterogeneity analysis finds that the descending effect of green credit on smog pollution is more significant in non-low-carbon pilot provinces and regions with lower economic development levels. In addition, green credit not only helps to reduce local smog pollution but also has a spatial spillover effect of "benefiting thy neighbors" on smog pollution in geographically neighboring areas. This study provides important inspiration for the government to further promote the innovation of green financial instruments and promote the improvement of environmental governance performance, provides decision-making references for different regions to implement differentiated green credit strategies to improve ambient air quality, and provides an experience reference for the development of green finance and environmental governance in emerging market countries.
作为环境治理活动中的资源生产要素，绿色信贷能否助力降低雾霾污染？本文基于 2006—2019 年中国省级面板数据，运用 OLS 回归模型和空间 Durbin 模型实证检验了绿色信贷对雾霾污染的影响。结果表明：绿色信贷整体上有助于降低雾霾污染；产业结构升级和绿色技术创新是绿色信贷降低雾霾污染的两条关键路径。异质性分析发现，随着中国经济发展阶段的转变，绿色信贷对雾霾污染的降低作用更加显著。区域异质性分析发现，绿色信贷对雾霾污染的降低作用在非低碳试点省份和经济发展水平较低的地区更为显著。此外，绿色信贷不仅有助于降低本地雾霾污染，而且对地理邻近地区的雾霾污染具有“邻里受益”的空间溢出效应。本文为政府进一步推动绿色金融工具创新、提升环境治理绩效提供了重要启示，为不同地区实施差异化绿色信贷策略以改善空气质量提供了决策参考，为新兴市场国家发展绿色金融和环境治理提供了经验借鉴。
