Does Green Financial Policy Reduce Carbon Intensity? with A Discussion on the Constraints of Economic Goals

This paper selects the period from 2003 to 2021 as the research interval and chooses 280 prefecture-level cities in China as the research subjects. A difference-in-differences model is constructed to explore the impact of green financial policies on carbon intensity, as well as the moderating effect of economic goal constraints. Furthermore, the study discusses the differences in policy effects across regions characterized by hard constraints, soft constraints, and no constraints on economic goals. The findings aim to provide theoretical support for promoting low-carbon economic development and achieving the "dual carbon" goals.