Research on the Pathway of Green Financial System to Implement the Realization of China’s Carbon Neutrality Target

Gaoweijia Wang, Shanshan Li and Li Yang
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Gaoweijia Wang: School of Economic and Management, Anhui University of Science and Technology, Huainan 232000, China
Shanshan Li: Institute of Energy, Hefei Comprehensive National Science Center, Hefei 230031, China
Li Yang: School of Economic and Management, Anhui University of Science and Technology, Huainan 232000, China

IJERPH, 2022, vol. 19, issue 4, 1-18

Abstract: To answer to global climate change, promote climate governance and map out a grand blueprint for sustainable development, carbon neutrality has become the target and vision of all countries. Green finance is a means to coordinate economic development and environmental governance. This paper mainly studies the trend of carbon emission reduction in China in the next 40 years under the influence of green finance development and how to develop and improve China’s green finance system to help China achieve the goal of “carbon neutrality by 2060”. The research process and conclusions are as follows: (1) Through correlation test and data analysis, it is concluded that the development of green finance is an important driving force to achieve carbon neutrality. (2) The grey prediction GM (1,1) model is used to forecast the data of carbon dioxide emissions, green credit balance, green bond issuance scale and green project investment in China from 2020 to 2060. The results show that they will all increase year by year in the next 40 years. (3) BP neural network model is used to further predict carbon dioxide emissions from 2020 to 2060. It is expected that China’s CO 2 emissions will show an “inverted V” trend in the next 40 years, and China is expected to achieve a carbon peak in 2032 and be carbon neutral in 2063. Based on the results of the research above, this paper provides a supported path of implementing the realization of the carbon-neutral target of China from the perspective of developing and improving green financial system, aiming to provide references for China to realize the vision of carbon neutrality, providing policy suggestions for relevant departments, and provide ideas for other countries to accelerate the realization of carbon neutrality.

Keywords: carbon neutral and carbon peak; green financial system; relationship between green finance and carbon neutral; prediction of CO 2 emission; grey prediction GM (1,1) model; BP neural network model (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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