The Impact of Green Finance on Carbon Emissions: Evidence from the Yangtze River Delta
グリーンファイナンスが炭素排出に与える影響：長江デルタからのエビデンス (AI 翻訳)
Qingzhou Ma, Bai Lyu, Weidong Wang
🤖 gxceed AI 要約
日本語
グリーンファイナンス指標が1標準偏差増加すると炭素排出強度が平均比23.6%低下。媒介経路としてグリーン技術革新（約30%）と産業構造高度化（約7%）が寄与。工業汚染度の高い都市ほど削減効果が強く、低所得都市で効果が顕著。長江デルタ41都市の2010-2024年パネルデータを使用。
English
Using panel data of 41 Chinese cities from 2010-2024, this study finds that a one-standard-deviation increase in green finance index reduces carbon emission intensity by about 23.6% of the sample mean. Green technology innovation and industrial structure upgrading mediate 30% and 7% of the effect, respectively. The reduction is stronger in highly polluted and low-income cities.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国長江デルタ地域に焦点を当てた実証分析であり、日本の地域別グリーンファイナンス政策の設計にも示唆を与える。特に、汚染度や所得レベルに応じた政策調整の重要性を示唆している点が、日本の地域間格差対策に参考となる。
In the global GX context
This paper provides novel city-level evidence from China on how green finance reduces carbon emissions, with insights into mediating mechanisms and boundary conditions. It contributes to the global literature on transition finance and carbon reduction, particularly for rapidly industrializing regions.
👥 読者別の含意
🔬研究者:Provides empirical evidence linking green finance to carbon reduction with mediation analysis.
🏢実務担当者:Can inform corporate green finance strategies and regional policy alignment.
🏛政策担当者:Offers evidence for designing regionally tailored green finance policies targeting carbon reduction.
📄 Abstract（原文）
Green finance can theoretically direct capital toward low-carbon sectors, but systematic city-level empirical evidence is still limited for the Yangtze River Delta region. Using panel data of 41 prefecture-level cities from 2010 to 2024, this paper employs year-fixed-effects, mediation, and moderation models to examine the impact of green finance on carbon emission intensity. The findings are as follows. First, green finance significantly reduces carbon emission intensity. A one-standard-deviation increase in the green finance index lowers carbon intensity by about 23.6% of the sample mean, and this result is robust. Second, green technology innovation contributes about 30% and industrial structure upgrading contributes about 7%, serving as two key mediating pathways. Third, industrial pollution level positively moderates the abatement effect: the more polluted a city, the stronger the marginal emission reduction effect of green finance. Fourth, the emission reduction effect is more pronounced in low-income cities, while the moderating role of urbanization level is not significant. This paper reveals the transmission mechanisms and boundary conditions of the emission reduction effect of green finance, providing empirical evidence for designing regionally adapted green finance policies in the Yangtze River Delta.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.3390/su18126109first seen 2026-06-17 05:59:56
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