Research on the Effect of Green Finance in Supporting Energy Conservation and Emission Reduction Under the “Carbon Neutral” Target-Evidence from China

Developing green finance and promoting it to support energy conservation and emission reduction is an important means to achieve the “carbon peak” and then achieve the “carbon neutral” goal in China. The panel data from 2009-2020 from various provinces in China were selected to discuss the effect and path mechanism of green finance on energy conservation and emission reduction. The results show that green finance can significantly reduce energy consumption and restrain carbon emissions, which helps to achieve energy conservation and emission reduction. Secondly, industrial structure upgrading and technological innovation transmit the influence of green finance to energy consumption through intermediary effect, producing energy saving effect. Finally, industrial structure upgrading also has an intermediary effect in the impact of green finance on carbon emissions. Based on the goal of “carbon neutral”, it is suggested to improve the green financial system to improve the development level of green finance, vigorously promote the upgrading, transformation of industrial structure, and encourage the technological innovation of enterprises.