Is Green Credit a Good Tool to Achieve “Double Carbon” Goal? Based on Coupling Coordination Model and PVAR Model

Abstract

China attaches importance to the combination of credit policy and environmental protection, tries to use credit policy tools to protect ecology and pollution prevention, and prevent environmental credit risk. With the proposal of the goal of “carbon peak and carbon neutralisation” (“double carbon”), green credit is also regarded as an important policy tool to achieve this goal. Firstly, this paper selects the time series data of green credit at the national level from 2013 to 2019 according to the official statistics and evaluates the coupling and coordinated development of credit system and environmental system based on the coupling coordination model. The results show that the two systems show well-coordinated development, but the interaction has annual fluctuations. Secondly, by calculating the provincial carbon emissions and green credit panel data from 2005 to 2019, the dynamic internal mechanism is analysed based on Panel Vector Autoregression (PVAR) model. It is found that green credit has a significant inhibitory effect on carbon emissions. The research results of this paper provide an overall evaluation of the quantity and quality of green credit for China’s banking industry. It also provides reasonable and effective support for green credit as a policy tool to promote realising the “double carbon” goal. In addition, China should maintain the consistency, stability and durability of green credit policy and continue to contribute to the low-carbon transformation of the economy and society.

The Coupling Coordination Evolutionary Analysis of Tourism-Ecological Environment-Public Service for the Yellow River Basin of China

“…The advantage of the panel vector autoregression (PVAR) model is that it allows all variables to be endogenous and reflects the dynamic influence relationship of multiple variables. It not only takes into account the differences of each individual, but also effectively solves the endogeneity of variables by introducing variable lags in the model [ 48 , 49 ]. As this paper studies the interaction between tourism-ecological environment-public service, there may be a two-way mechanism, leading to endogeneity problems.…”

Does the National Credit Demonstration Policy Affect Urban Green Economy Efficiency? Evidence from the Yangtze River Delta Region of China

“…Therefore, drawing on Kun Ge et al’s research ideas [ 31 ], the Yangtze River Delta region is chosen as the research object, and cities with different locations and political status and belonging to different provinces are examined in order to better reflect the actual policy. Finally, considering the competing relationships of resource factors in the spatial scale of cities, and based on the Coupling Coordination Model and PVAR Model used by Yi Hu et al [ 32 ], the article adopts a more scientific multi-period spatial DID model to assess the policy effects and impact heterogeneity of national credit demonstration policies on urban green economic efficiency.…”

How Does Green Credit Policy Affect Sustainable Development Capacity of Enterprises in China?

“…A. showed that green credit policies have a greater impact on industrial carbon emission intensity for countries with a low state-owned capital ratio, a high total-factor productivity, and a high capital dependence. Hu and Zheng (2021) found that green credit has a significant inhibitory effect on carbon emissions.…”