Carbon Emission Reduction Effects of China's Green Local Government Special Bonds Under ‘Dual Carbon Goals’

This paper uses the Staggered Difference in Differences (DID) method to study the effects of green local government special bonds on carbon emission intensity based on Chinese provincial panel data from 2014-2021. Green local government special bonds can significantly reduce carbon emission intensity. Additionally, there is heterogeneity in the carbon emission reduction effects. The greater the financial pressure, the higher the degree of importance attached to environmental protection by local governments, the more developed the local economy, and the higher the level of green financial development, the carbon emission reduction effects of green local government special bonds are more significant