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In the current period, green finance has become an inevitable trend in the development of the financial industry. The study collects the audience demand of green financial products through Octopus collector, uses micro-word cloud analysis system for data de-weighting and Chinese word segmentation, and calculates the keyword weights in the words using TF-IDF algorithm, and realizes the identification of green financial product innovation and economic benefits by combining with multi-dimensional innovation map. Subsequently, the indicators on green financial product innovation and environmental economy from 2007 to 2022 are combed, and a VAR-based econometric model is established to analyze the impact relationship between green financial product innovation and environmental economic benefits. The results show that when the lag period is 10 periods, the contribution of environmental economic benefit itself to the change of environmental economic benefit tends to be 23.79%, while the contribution of green investment products, green bond products and green insurance products to environmental economic benefit tends to be 9.72%, 20.23% and 21.83%, respectively. Green product innovation has a certain influence on the fluctuation of environmental economic benefits, and green bond products and green insurance products have a greater impact on environmental economic benefits.