Exploring the effectiveness of climate aid is crucial to distribute funds scientifically and maximize its impact. A body of related literature has estimated the impact of international climate aid on carbon emissions. However, these studies did not adequately consider the multi-dimensional heterogeneity of climate aid's carbon reduction effect. Based on national panel data of 77 recipients from 1980 to 2016, this study is the first to analyze the heterogeneous characteristics of climate aid's carbon reduction effect from three dimensions of emission level, aid level, and income level. Results show that, totally speaking, climate aid has a significant negative effect on carbon emissions in recipient countries. From the perspective of heterogeneity, climate aid has significant reduction effects for the recipient countries with middle-emission level. Meanwhile, climate aid also has significant negative effects on carbon emissions in recipient countries with high-aid level, i.e., only when the amount of aid reaches relatively high levels can climate aid play its role in reducing emissions. Furthermore, climate aid only conducts a significant reduction effect for middle-income recipients. This study recommends proposing a new collective quantified financial target, pursuing low-carbon economic development, optimizing the aid distribution, and enhancing capacity building to maximize the effectiveness of climate aid.

探索气候援助的有效性对于科学分配资金并最大程度发挥其影响至关重要。大量相关文献估计了国际气候援助对碳排放的影响。但是，这些研究没有充分考虑气候援助的碳减排效果的多维异质性。该研究基于1980年至2016年的77个受援国的国家面板数据，这是首次从排放水平，援助水平和收入水平三个维度分析气候援助碳减排效果的异质性特征。结果表明，总体而言，气候援助对受援国的碳排放具有重大的负面影响。从异质性的角度来看，气候援助对中等排放水平的受援国具有显着的减排效果。同时，气候援助还对高援助水平受援国的碳排放产生重大负面影响，即，只有当援助量达到相对较高水平时，气候援助才能发挥其减少排放的作用。此外，气候援助仅对中等收入接受者产生了显着的减排效果。这项研究建议提出一个新的集体量化金融目标，追求低碳经济发展，优化援助分配，并加强能力建设，以最大程度地提高气候援助的有效性。只有当援助量达到相对较高的水平时，气候援助才能在减少排放方面发挥作用。此外，气候援助仅对中等收入接受者产生了显着的减排效果。这项研究建议提出一个新的集体量化金融目标，追求低碳经济发展，优化援助分配，并加强能力建设，以最大程度地提高气候援助的有效性。只有当援助量达到相对较高的水平时，气候援助才能在减少排放方面发挥作用。此外，气候援助仅对中等收入接受者产生了显着的减排效果。这项研究建议提出一个新的集体量化金融目标，追求低碳经济发展，优化援助分配，并加强能力建设，以最大程度地提高气候援助的有效性。