Fan Min, Liu Weixuan, Yao Di
School of Economics and Management, Xinjiang University, Urumqi, 830000, China.
School of International Trade and Economics, University of International Business and Economics, Beijing, 100029, China.
J Environ Manage. 2025 Aug;389:126110. doi: 10.1016/j.jenvman.2025.126110. Epub 2025 Jun 13.
This paper explores the impact of green finance reform and innovation pilot zones on corporate pollution and carbon reduction based on panel data of A-share listed enterprises from 2010 to 2022. The study finds that green finance reform and innovation pilot zones promote the synergistic effects of corporate pollution and carbon reduction, with mechanisms such as alleviating financing constraints, promoting environmental investment, and enhancing green technological innovation playing important roles. The effects are more pronounced for heavily polluting enterprises, high-tech enterprises, and enterprises cities in low-carbon pilot with environmental courts and eastern area. Under effective economic and environmental objective constraints, green finance reform and innovation pilot zones will provide greater "acceleration" for corporate pollution and carbon reduction. The study indicates that green financing serves as a viable strategy to enhance the combined impact of corporate efforts in reducing both pollution and carbon emissions. It also represents a practical approach to simultaneously achieving economic development and ecological environmental goals.
本文基于2010年至2022年A股上市公司的面板数据，探讨了绿色金融改革创新试验区对企业污染治理和碳减排的影响。研究发现，绿色金融改革创新试验区促进了企业污染治理和碳减排的协同效应，缓解融资约束、促进环境投资、增强绿色技术创新等机制发挥了重要作用。对于重污染企业、高科技企业以及设有环境法庭的低碳试点城市企业和东部地区企业，这些效应更为明显。在有效的经济和环境目标约束下，绿色金融改革创新试验区将为企业污染治理和碳减排提供更大的“加速度”。该研究表明，绿色融资是增强企业污染治理和碳减排综合影响的可行策略。它也是同时实现经济发展和生态环境目标的切实途径。
