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

Author

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  • Yi Hu

    (School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China
    Key Laboratory of Big Data Mining and Knowledge Management, Chinese Academy of Sciences, Beijing 100190, China)

  • Jiayu Zheng

    (School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China)

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.

Suggested Citation

  • Yi Hu & Jiayu Zheng, 2021. "Is Green Credit a Good Tool to Achieve “Double Carbon” Goal? Based on Coupling Coordination Model and PVAR Model," Sustainability, MDPI, vol. 13(24), pages 1-21, December.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:24:p:14074-:d:707112
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    Citations

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    Cited by:

    1. Yan Yang & Yingli Zhang, 2022. "The Impact of the Green Credit Policy on the Short-Term and Long-Term Debt Financing of Heavily Polluting Enterprises: Based on PSM-DID Method," IJERPH, MDPI, vol. 19(18), pages 1-18, September.
    2. Haisheng Chen & Dingqing Ni & Shuiping Zhu & Ying Ying & Manhong Shen, 2022. "Does the National Credit Demonstration Policy Affect Urban Green Economy Efficiency? Evidence from the Yangtze River Delta Region of China," IJERPH, MDPI, vol. 19(16), pages 1-20, August.
    3. SiJian Niu & Byung Il Park & Jin Sup Jung, 2022. "The Effects of Digital Leadership and ESG Management on Organizational Innovation and Sustainability," Sustainability, MDPI, vol. 14(23), pages 1-20, November.
    4. Quan Wu & Wei Cheng & Zuoxiong Zheng & Guangjun Zhang & Haicheng Xiao & Chuan Wen, 2023. "Research on the Carbon Credit Exchange Strategy for Scrap Vehicles Based on Evolutionary Game Theory," IJERPH, MDPI, vol. 20(3), pages 1-18, February.
    5. Zhenhui Huang & Wei Wei & Ying Han & Shuangying Ding & Ke Tang, 2022. "The Coupling Coordination Evolutionary Analysis of Tourism-Ecological Environment-Public Service for the Yellow River Basin of China," IJERPH, MDPI, vol. 19(15), pages 1-23, July.
    6. Keyi Duan & Mingyao Cao & Nurhafiza Abdul Kader Malim, 2022. "The Relationship between Trade Liberalization, Financial Development and Carbon Dioxide Emission—An Empirical Analysis," Sustainability, MDPI, vol. 14(16), pages 1-14, August.

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