金融学院知识库

绿色金融是践行新发展理念的客观要求，是助力绿色发展的重要抓手，也是金融赋能经济高质量发展的重要途径。绿色发展需要巨大的资金支持，需要进行大规模的资金配置，这给绿色金融带来了巨大的发展空间，加之在我国以商业银行为主体的金融体系架构和社会融资模式中对间接融资的高度依赖背景下，绿色信贷已成为绿色融资的关键手段，并因此成为了构建我国绿色金融体系不可或缺的基石。但是，我国绿色信贷仍处于初步发展阶段，存在体系不完善和监管漏洞等诸多问题，导致商业银行因绿色企业违规操作等行为引发的环境风险、信用风险和市场风险等问题突出。因此，研究绿色信贷对商业银行风险承担的影响具有重要意义，可以为商业银行全面风险管理体制的构建提供借鉴。

本文主要采用实证分析法、文献分析法、规范分析法，探究绿色信贷对商业银行风险承担的影响。在文献分析部分，本文通过对绿色信贷的作用、商业银行风险承担的影响因素、绿色信贷对商业银行风险承担的影响、外部因素对绿色信贷与商业银行行为的调节作用四个方面的已有文献进行梳理，总结性分析了相关研究现状并进行了简要评述。在规范分析部分，本文探究了我国绿色信贷和商业银行风险承担发展现状，系统梳理了可持续金融理论、企业社会责任理论、委托-代理理论以及全面风险管理理论，为后续探讨绿色信贷如何影响商业银行主动与被动风险承担提供了理论基石。在实证研究阶段，本文选取我国83家商业银行2008-2022年的面板数据为研究样本，使用多期DID建立实证模型，研究绿色信贷对商业银行风险承担的影响，同时使用调节效应模型分析地区绿色发展水平和金融科技发展水平对二者关系的调节效应。本文结论如下：第一，绿色信贷会降低商业银行被动风险承担，增加商业银行主动风险承担。第二，地区绿色发展水平和金融科技发展水平对绿色信贷与商业银行主、被动风险承担关系均发挥正向调节作用。第三，绿色信贷对不同性质商业银行风险承担的影响存在异质性，对东部地区被动风险承担的降低作用大于对中西部地区商业银行被动风险承担的降低作用，对中西部地区主动风险承担的影响不显著，对大型国有银行被动风险承担的降低作用大于对股份制银行、城商行和农商行的降低作用，对大型国有银行主动风险承担影响不显著。结合以上分析，本文从以可持续发展理念优化信贷资金配置、开展差异化绿色信贷发展模式、加大金融科技和绿色金融交叉人才培养等方面对商业银行发展提出相关建议，从建立和完善法律制度、激励机制、环境信息披露机制，推动地区绿色发展等方面对政府部门提出相关建议。

Green finance an objective requirement for implementing the new development concept, is an important hand in fueling green development, and an important way for finance to enable high-quality economic development. Green development requires huge financial support and large-scale capital allocation, which brings huge development space for green finance, coupled with the high dependence on indirect financing and China's financial system structure with commercial banks as the main body, green credit has been highlighted as a key means of green financing, and thus constitutes an indispensable cornerstone of China's green financial system. However, China's green credit is still in the initial development stage, and there are many problems such as imperfect system and regulatory loopholes, which lead to the environmental risk, credit risk and market risk caused by commercial banks due to the illegal operation of green enterprises. Therefore, it is important to explore the effects of green credit on commercial banks risk-taking, which can provide a reference for the construction of comprehensive risk management system of commercial banks.

This paper mainly adopts empirical analysis method, literature analysis method and normative analysis method to study the effects of green credit on commercial banks risk-taking. In the literature analysis part, this paper summarily analyses the current status of related research and makes a brief review by combing the existing literature in four aspects: the role of green credit, the factors influencing commercial banks risk-taking, the effects of green credit on commercial banks risk-taking, and the moderating role of external factors on green credit and commercial banks' behaviour. In the normative analysis part, this paper explores the current situation of the development of green credit and commercial banks risk-taking in China, and systematically combs through the theory of sustainable finance, the theory of corporate social responsibility, the principal-agent theory, and the theory of comprehensive risk management, which provides the theoretical cornerstone for the subsequent exploration of how green credit affects the active and passive risk-taking of commercial banks. In the empirical research stage, this paper takes the panel data of 83 commercial banks in China from 2008 to 2022 as the research sample, and establishes an empirical model using multi-period DID to study the impact of green credit on commercial banks risk-taking, and at the same time, uses the moderating effect model to analyse the moderating effect of the developmental level of regional green economy and financial technology on the relationship between the two. The conclusions of this paper are as follows: Firstly, green credit decreases the passive risk-taking of commercial banks, and increases the active risk-taking of commercial banks. Secondly, the developmental level of regional green economy and financial technology play a positive regulatory role in the relationship between green credit and commercial banks active and passive risk-taking. Thirdly, there is heterogeneity in the effects of green credit on the risk-taking of commercial banks of different natures, the reduction of passive risk-taking in the eastern region is greater than the reduction of passive risk-taking of commercial banks in the central and western regions, and the impact of active risk-taking in the central and western regions is not significant, and the reduction of passive risk-taking of large state-owned banks is greater than the reduction of joint-stock banks, city commercial banks and agricultural commercial banks, and the impact of active risk-taking of large state-owned banks is not significant.  Combined with the above analysis, the paper presents related suggestions for the development of commercial banks in terms of optimizing the allocation of credit funds based on the concept of sustainable development, carrying out differentiated green credit development models, and increasing the cultivation of cross-training talents in financial science and technology and green finance, and puts forward related suggestions for government departments in terms of establishing and improving the legal system, incentive mechanism, environmental information disclosure mechanism, and promoting the green development of the region.