绿色信贷能促进企业碳减排技术创新吗?——基于央行实施碳减排支持工具的演化博弈

Can Green Credit Promote Enterprise's innovation in carbon reduction technology? ———An Evolutionary Game Based on the Carbon-Reduction Supporting Tool

摘要:

在“双碳”目标推动下,绿色信贷对企业碳减排技术创新起着显著作用。为引导金融机构增强对绿色发展的支持,人民银行推出了碳减排支持工具。本文构建了一个基于此工具的银企绿色信贷博弈演化模型,探讨该工具是否能引导更多资金流向绿色低碳项目,以缓解“三高”企业在绿色低碳创新的融资约束,促进企业绿色低碳转型。研究结果显示,在降低银行监督成本、增加政府利率补贴的情况下,银行发放绿色信贷的积极性提升；企业技术升级后,收益增加和成本下降,有助于提高企业进行低碳技术创新的积极性；碳减排支持工具的推出有效鼓励银行与企业积极参与绿色低碳转型。本文对改进绿色信贷政策及其配套措施提供了参考价值。

Abstract:

Driven by the "dual-carbon" goal, green credit plays a significant role in technological innovation for carbon emission reduction by enterprises. In order to guide financial institutions to enhance their support for green development, the People"s Bank of China (PBOC) has launched a carbon emission reduction support tool. This paper constructs a green credit game evolution model for banks and enterprises based on this tool, and explores whether this tool can guide more funds to green and low-carbon projects, so as to alleviate the financing constraints of "three-high" enterprises in green and low-carbon innovations, and to promote the green and low-carbon transformation of enterprises. The results of the study show that banks" incentives to issue green credits increase under the circumstances of reducing bank supervision costs and increasing government interest rate subsidies; the increase in revenues and the decrease in costs of technological upgrading of enterprises help to improve the incentives of enterprises to carry out low-carbon technological innovations; and the introduction of the carbon emission reduction support tool effectively encourages the active participation of banks and enterprises in the green and low-carbon transition. This paper provides reference value for improving green credit policy and its supporting measures.