绿色金融发展对企业碳排放的影响  

The Impact of Green Finance Development on Corporate Carbon Emissions

作　　者：申琳[1] 李浩楠 Shen Lin;Li Haonan(School of Economics,Hangzhou Dianzi University,Hangzhou 310018,China)

机构地区：[1]杭州电子科技大学经济学院,浙江杭州310018

出　　处：《金融理论探索》2025年第1期42-56,共15页Exploration of Financial Theory

基　　金：教育部人文社会科学基金“普惠金融、人力资本投资与共同富裕:机制与效应研究”(22YJA790042)。

摘　　要：作为传统金融的延伸,绿色金融的碳减排作用受到实践者与政策制定者的广泛关注,但学者们对于绿色金融能否抑制碳排放的研究结论并未达成一致。本文通过构建更加完善的绿色金融测度综合评价体系,基于2000—2021年上市企业微观数据,实证考察了绿色金融发展对企业碳排放的影响。研究发现,绿色金融的发展显著降低了企业碳排放;在考虑了环保税的调节作用后,绿色金融的碳减排效果更加明显;尤其是在中、高税率地区,环保税的调节效应更为显著。此外,绿色金融对西部地区企业、重污染企业、高新技术企业以及非“漂绿”企业的碳排放抑制效果更为突出。因此,应该进一步完善绿色金融评价体系,不断优化环保税政策,并推出差异性的绿色金融政策,同时强化监管以更好地驱动绿色发展和实现“双碳”目标。As an extension of traditional finance,green finance’s role in reducing carbon emissions has drawn significant interest from both industry professionals and policymakers.However,there remains a lack of consensus among scholars regarding its effectiveness in curbing carbon emissions.This study conducts an empirical analysis of how the advancement of green finance influences corporate carbon emissions,utilizing a more comprehensive green finance measurement and evaluation framework and micro-level data from publicly listed companies spanning from 2000 to 2021.The findings reveal that green finance development has a significant effect on reducing corporate carbon emissions.After considering the moderating role of environmental protection taxes,the carbon emission reduction effect of green finance is even more apparent,especially in regions with medium and high tax rates.Additionally,green finance has a more prominent effect on inhibiting carbon emissions in western region enterprises,heavily polluting enterprises,and high-tech enterprises.Therefore,it is necessary to further improve the green finance evaluation system,continuously optimize environmental protection tax policies,implement tailored green finance policies and strengthen supervision to more effectively promote sustainable development and achieve the“dual carbon”goals.

关 键 词：绿色金融 碳排放 环保税 绿色技术创新 

分 类 号：F832[经济管理—金融学] X196[环境科学与工程—环境科学] F124.3