A Study on the Impact of Environmental Liability Insurance on Industrial Carbon Emissions

In order to explore whether environmental liability insurance has an important impact on industrial emission reduction, this paper selects provincial (city) level panel data from 2010 to 2020 and constructs a two-way fixed effect model to analyze the impact of environmental liability insurance on carbon emissions from both direct and indirect levels. The empirical analysis results show that: at the direct level, the development of environmental liability insurance has the effect of reducing industrial carbon emissions, and its effect is heterogeneous. At the indirect level, the role of environmental liability insurance is weaker in areas with developed financial industry and underdeveloped financial industry. Further heterogeneity analysis shows that in the industrial developed areas, the effect of environmental liability insurance on carbon emissions is more obvious. Based on this, countermeasures and suggestions are put forward from the aspects of expanding the coverage of environmental liability insurance, innovating the development of environmental liability insurance and improving the level of industrialization.