The inverted U-effect of digital financial inclusion on household food carbon footprint in China: The moderating roles of environmental concern and future expectations

Digital financial inclusion (DFI) is an enabler for achieving carbon peak and carbon neutrality. We use China Family Panel Studies (CFPS) data spanning 2014 to 2020 to investigate the impact of DFI on household food carbon footprint (HFCF) in China. We find that (1) DFI has an inverted U-shaped effect on HFCF, changing from promotion to suppression; (2) The impact of DFI on HFCF demonstrates multidimensional heterogeneity. The impact of DFI on HFCF demonstrates multidimensional heterogeneity. The inverted U-shaped relationship is more pronounced in non-agricultural households, households with high-educated head, high-income households, households with unhealthy lifestyle heads, low-status households, households without the Internet, and households in the eastern, central, low-industrialization, high-urbanization and low-environmental regulation region; (3) Environmental concern and future expectations significantly moderate the inverted U-shaped relationship between DFI and HFCF, where environmental concern strengthens and future expectations weaken the effect; (4) Considering the dimensions of DFI, usage depth and digitization level of DFI have nonlinear effects on HFCF, while coverage breadth consistently exerts a positive influence. Policy implications are derived from the research results.