Green credit is an indispensable funding source through which China can achieve its carbon neutrality goal. This paper quantifies the influences of different green credit scales on energy structures, carbon reduction, the industrial economy, and the macroeconomy. It creates a green credit mechanism related to green technology innovation in a Chinese carbon neutrality computable general equilibrium (CGE) model and integrates energy, environmental, economic, and financial (3EF) systems. The green credit scale can influence green technology innovation and hence CO2 emissions. The results show that (1) green credit can accelerate China's achievement of its carbon neutrality goal, and the larger the green credit scale, the less time it takes to achieve goals; (2) the influence of green credit scales confers marginal decreasing effects with realistic policy considerations; (3) using a cost-benefit perspective, 60% is the most appropriate green credit scale to use to achieve dual carbon goals in China; (4) the different green credit scales have a heterogeneous impact on the industry output, and high-carbon-emission producers from nonenergy industries need to pay attention to their green credit risk. This research provides a scientific reference for the policy design of China's future green financial market development.
Keywords: computable general equilibrium analysis; dual carbon goals; economic effect; environmental effect; green credit; green technology innovation.