How does green finance impact carbon emissions in China: Evidence from the fintech perspective

被引：0
作者：
Cheng X. [1 ]
Qian Y. [3 ]
Wang B. [1 ]
机构：
[1] Finance, Anhui Polytechnic University, No.8 Beijing Middle Road, Anhui, Wuhu
[2] School of Economics and Management, East China Normal University, No.3663, Zhongshan North Road, Putuo District, Shanghai
来源：
Environmental Science and Pollution Research | 2024年 / 31卷 / 31期
关键词：
Carbon emissions; Energy structure; financing constraints; Fintech; Green finance; Green technology innovation;
D O I：
10.1007/s11356-024-34034-x
中图分类号：
学科分类号：
摘要：
In light of China’s objectives for carbon peak and carbon neutrality, there is an opportunity for fintech to leverage its technological advantages and enhance its integration with green finance (GF). This can bring about enhanced coverage and precision of financial services for green industries, facilitating the transformation towards a sustainable, greener, and low-carbon real economy. We investigate how fintech development influences the carbon emission reduction effects of GF utilizing a two-way fixed effects model with a panel dataset covering 30 provinces in China from 2011 to 2020. Our findings indicate that the negative impact of GF on carbon emissions (CE) is heightened in areas with high levels of fintech development. Furthermore, we notice regional disparities in how fintech development impacts the effectiveness of GF in reducing CE. Specifically, fintech has a statistically significant impact in the central and western regions, whereas its significance is absent in the eastern region. Lastly, our mechanism analysis reveals that fintech plays a vital role in enhancing GF’s capacity to mitigate CE, which is achieved through channels of promoting green technology innovation (GTI), alleviating corporate financing constraints (FC), and optimizing energy structure (ES). These findings provide compelling evidence for the positive effect of fintech on the environment and offer justification for promoting the development of fintech and GF. © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2024.
引用
收藏
页码：44169 / 44190
页数：21
相关论文
共 116 条
[1]  
Abbas J., Wang L., Ben Belgacem S., Pawar P.S., Najam H., Abbas J., Investment in renewable energy and electricity output: Role of green finance, environmental tax, and geopolitical risk: Empirical evidence from China, Energy, 269, (2023)
[2]  
Acemoglu D., Aghion P., Violante G.L., Deunionization, technical change and inequality. Carnegie-Rochester Conf, Seri Pub Pol, 55, 1, pp. 229-264, (2001)
[3]  
Acheampong A.O., Economic growth, CO<sub>2</sub> emissions and energy consumption: what causes what and where?, Energy Econ, 74, pp. 677-692, (2018)
[4]  
Allet M., Hudon M., Green microfinance: Characteristics of microfinance institutions involved in environmental management, J Bus Ethics, 126, pp. 395-414, (2015)
[5]  
Amstad M., Sun G., Xiong W., The handbook of China’s financial system, (2020)
[6]  
Antweiler W., Copeland B.R., Taylor M.S., Is free trade good for the environment, Am Econ Rev, 91, 4, pp. 877-908, (2001)
[7]  
Arner D.W., Barberis J., Buckley R.P., Fintech, regtech, and the reconceptualization of financial regulation, Northwest J Int Law Bus, 37, 3, pp. 373-415, (2017)
[8]  
Ashta A., Herrmann H., Artificial intelligence and fintech: An overview of opportunities and risks for banking, investments, and microfinance, Strat Change, 30, pp. 211-222, (2021)
[9]  
Bartram S.M., Hou K., Kim S., Real effects of climate policy: Financial constraints and spillovers, J Financ Econ, 143, pp. 668-696, (2022)
[10]  
Bhattacharya M., Rafiq S., Bhattacharya S., The role of technology on the dynamics of coal consumption-economic growth: new evidence from China, Appl Energy, 154, pp. 686-695, (2015)
12345678910