Abstract
<p style="text-align:justify"><span style="font-size:10.5pt"><span style="font-family:Calibri"><span style="font-size:12.0000pt"><span style="font-family:宋体"><font face="Times New Roman">In order to address the increasingly prominent issues of sustainable development in resources, environment, and ecology, the support of green finance and the transformation of a low-carbon economy are two complementary and pivotal strategies and paths on the journey towards achieving the grand goal of "carbon neutrality"</font></span></span><span style="font-size:12.0000pt"><span style="font-family:宋体"><font face="Times New Roman">.</font></span></span><span style="font-size:12.0000pt"><span style="font-family:宋体">&nbsp;<font face="Times New Roman">To facilitate the smooth implementation of China's carbon emission reduction efforts, a thorough analysis of the coordinated development between green finance and the low-carbon economy is crucial. This paper utilizes </font><font face="Times New Roman">panel data from central cities in t</font></span></span><span style="font-size:12.0000pt"><span style="font-family:宋体"><font face="Times New Roman">he Yangtze </font></span></span><span style="font-size:12.0000pt"><span style="font-family:宋体"><font face="Times New Roman">River Delta region</font>&nbsp;<font face="Times New Roman">to conduct an analysis, exploring the impact of green finance levels on carbon emissions through the application of bidirectional fixed-effects and mediation effect models.The research results indicate that the level of green finance can suppress carbon emissions to a certain extent</font></span></span>&nbsp;<span style="font-size:12.0000pt"><span style="font-family:宋体"><font face="Times New Roman">and promote low-carbon development in the region. These findings are confirmed through robustness tests. In analyzing the mediation mechanism, it is discovered that government investment in environmental protection plays a mediating role in the process of green finance influencing carbon emissions. Additionally, a regional heterogeneity analysis reveals that regions with higher levels of green finance development exert a more significant impact on carbon emissions.</font></span></span></span></span></p>
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