The impact of digital inclusive finance on the collaborative reduction of pollutant and carbon emissions: spatial spillover and mechanism analysis.

In light of the escalating global climate risks threatening human survival, there is a global consensus on the necessity for collaborative reduction of pollutant and carbon emissions (CRPC). Within this context, digital inclusive finance (DIF) is recognized for its unique inclusiveness and digital characteristics as a critical factor in promoting environmentally friendly and sustainable development. DIF provides advantageous channels for environmental governance, thereby making the achievement of CRPC objectives feasible. However, the impact of DIF on CRPC has not been fully explored. This study employs a spatial econometric model to investigate the impact of DIF on CRPC in 278 prefecture-level cities in China from 2011 to 2020. The findings indicate that DIF has a positive impact on CRPC, with significant spatial spillover effects. The analysis highlights the pivotal mediating roles played by technology effect and electrified effect of the energy mix, while environmental regulation effect plays a moderating role. Notably, disparities in the impact of DIF on CRPC are evident, particularly in non-resource-based cities, cities with low carbon intensity, and eastern regions where spatial spillover effects are more pronounced. These experiences enrich the relevant thesis in terms of DIF on CRPC, providing a theoretical basis for formulating CRPC schemes.