Emission reductioneffect of digital finance in carbon trading market

YANG Liyuan; CHEN Tingting; SUN Huaping; ZHANG Ling

Abstract：Based on the Peking University Digital Financial Inclusion Index and panel data for 30 provinces in China from 2011-2022,the fixed effect model and intermediary effect model were used to empirically test the impact of digital finance coverage breadth,use depth and digitization degree on corporate carbon emissions and its internal mechanism.Research shows that digital finance and its three dimensions can significantly reduce regional carbon emissions,and promote regional carbon reduction by increasing carbon quota trading and voluntary emission reduction trading,and the transmission channels of carbon trading scale will be expanded to promote regional carbon reduction.Heterogeneity analysis found that:due to the differences in economic development level,digital infrastructure and policy support in different regions,digital financial in the eastern region,economically developed area and non-resource province has a more obvious inhibition effect on carbon emissions.In this regard,the application of digital finance in the carbon trading market should be further deepened,the policy guidance of digital finance enabling green innovation should be strengthened,and targeted institutional measures should be formulated according to regional characteristics to help regional collaborative emission reduction.