Abstract
The article aims at the relationship between China’s green insurance, social and economic development, and environmental protection. It analyzes China’s green insurance development measures and operating mechanism. According to the China Statistical Yearbook, based on data from 2011-2019, research variables are selected for empirical analysis and qualitative analysis. It is concluded that the green insurance industry is conducive to sustainable and sustainable development, reduces industrial transformation risks, improves environmental protection capabilities, and improves residents’ living standards. China’s experience in developing the green insurance industry provides a useful reference for the sustainable development and development of green finance in developing countries and regions.
Highlights
Green insurance provides insurance products that support environmental improvement, respond to climate change, and promote resource conservation and efficient use
From 2018 to the end of 2020, the green investment stock of China's insurance funds has increased from 3954 billion rubles to 5,615 billion rubles, a growth rate of 19.17%.[2]
China is poised to be a global leader in green finance policy implementation and regulators need to accelerate the formulation of green insurance products and enhance the capacity of financial institutions to offer green insurance
Summary
Green insurance provides insurance products that support environmental improvement, respond to climate change, and promote resource conservation and efficient use. By improving the green insurance supply system, the insurance industry will give full play to its functions of economic compensation, financing and risk management, increase the "green supply" of the whole society, and promote supply-side structural reforms.
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