A Study on the Impact Mechanism of Delayed Retirement on the Green Transformation of Pension Insurance Funds under the Constraint of " Dual Carbon" Targets
DOI:
https://doi.org/10.54097/c76mpc24Keywords:
Pension insurance fund, Green transition, Difference-in-differences, ESG evaluation system, System dynamicsAbstract
Under the dual constraints of my country's aging population and "dual carbon" targets, exploring how the delayed retirement policy affects the green transformation of pension funds is of great significance for achieving coordinated economic, social, and environmental development. Existing research often discusses delayed retirement and green investment separately, lacking a mechanism test of their intrinsic connection. To fill this gap, this study constructs a comprehensive analytical framework. First, a multi-period difference-in-differences model is used to identify its net effect. Second, a dynamic ESG evaluation system is constructed. Finally, through system dynamics models and Monte Carlo simulations, the emission reduction effects and risk-return profile of green investment are quantified. This study reveals the intrinsic mechanism by which the delayed retirement policy drives green transformation through optimized fund asset allocation. The policy implication is that emphasis should be placed on the synergy between delayed retirement and green finance policies, strengthening ESG guidance and incentives to jointly improve the long-term financial and environmental sustainability of pension funds.
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