Research on the Energy-saving and Emission Reduction Effect of Green Finance Development--Based on the perspective of energy efficiency and energy consumption structure

Abstract

Based on the panel data of 30 provinces from 2010 to 2020, this paper explores the energy-saving and emission reduction effects and action paths of green finance development from the perspective of energy efficiency and energy consumption structure . The results show that green finance has a significant effect on energy-saving and emission reduction. Green finance not only effectively promotes the improvement of energy efficiency, but also promotes the optimization and upgrading of energy consumption structure; Further analysis shows that there are regional differences in the energy efficiency and energy consumption structure of green finance in terms of energy-saving and emission reduction. The potential of green finance in energysaving and emission reduction in the central and western regions is significantly greater than that in the eastern regions; In addition, green finance also has a heterogeneous impact on energy efficiency and energy consumption structure at different quantile levels. At the level of energy efficiency, the dividend period of green finance's energy-saving and emission reduction effect is relatively short, and the potential of green finance's energy-saving and emission reduction effect in adjusting the energy consumption structure is huge. The mechanism analysis found that green technology innovation and industrial structure optimization played a partial intermediary role in the impact of green finance on energy-saving and emission reduction,and green finance has a greater effect on energy conservation and emission reduction at the level of energy consumption structure through industrial structure optimization.