In the context of the "peak carbon dioxide emissions" and "carbon neutrality" strategic goals, how green finance can prompt private enterprises to achieve green upgrading has become an important issue to be solved. This paper empirically examines the effect mechanism of green credit policy on private enterprises' green innovation by using the difference-in-differences model based on the manually collected green patent data and matching financial data of Chinese listed private enterprises from 2009 to 2019. It is found that the implementation of green credit policy has a significant negative impact on the quality of green innovation of heavy-polluting private firms relative to non-heavy-polluting private firms, and this conclusion is still valid after replacing the explanatory variables, expanding the sample range, changing the model setting, and excluding the interference of other policies during the sample period. The results of the mechanism suggest that green credit policy negatively affects the quality of green innovation of heavy-polluting private firms by limiting their access to financing for loans and the capital market. Further study finds that commercial banks can reduce their non-performing loan ratio and increase their revenue growth rate by extending green credit funds to improve their business performance. It provides insights for better implementation of green credit policy and promotion of green economy development.
Download full-text PDF |
Source |
|---|---|
| http://dx.doi.org/10.1007/s11356-022-23906-9 | DOI Listing |
Publication Analysis
Top Keywords
Similar Publications
An integrated approach to modeling the influence of critical factors in low-carbon technology adoption by chemical enterprises in China.
J Environ Manage
December 2024
School of Economics and Management, Dalian University of Technology, No.2 Ling Gong Road, Dalian 116024, China.
Adopting low-carbon technology has become a critical method for enterprises to reduce carbon emissions and combat global warming. However, the willingness of high-energy-consuming and high-emission enterprises, such as those in the chemical industry, to adopt this technology is not high. Therefore, how to effectively stimulate these enterprises to develop and apply low-carbon technology has become an urgent challenge.
View Article and Find Full Text PDFGreen credit policy and energy consumption intensity in China: Firm-level evidence and insights.
J Environ Manage
December 2024
College of Business and Public Management, Department of Economics, Wenzhou-Kean University, Wenzhou, China; Centre for Studies on Europe, Azerbaijan State University of Economics, Baku, Azerbaijan; Division of International Studies, College of International Studies, Korea University. 145 Anam-ro, Seongbuk-gu, Seoul, 02841, Republic of Korea. Electronic address:
The transition to sustainable development has become a global priority, with energy transformation serving as a key component. In this context, green financial instruments play a crucial role in shaping corporate energy-saving behaviors and promoting sustainable development. This paper examines the impact and mechanism of China's first green credit policy (GCP) on energy consumption intensity (ECI) of manufacturing firms in China, using a difference-in-difference (DID) approach with micro-level data (2004-2009).
View Article and Find Full Text PDFBioengineering stimuli-responsive organic-inorganic nanoarchitetures based on carboxymethylcellulose-poly-l-lysine nanoplexes: Unlocking the potential for bioimaging and multimodal chemodynamic-magnetothermal therapy of brain cancer cells.
Int J Biol Macromol
December 2024
Center of Nanoscience, Nanotechnology, and Innovation - CeNano(2)I, Department of Metallurgical and Materials Engineering, Federal University of Minas Gerais, UFMG, Brazil. Electronic address:
Regrettably, glioblastoma multiforme (GBM) remains the deadliest form of brain cancer, where the early diagnosis plays a pivotal role in the patient's therapy and prognosis. Hence, we report for the first time the design, synthesis, and characterization of new hybrid organic-inorganic stimuli-responsive nanoplexes (NPX) for bioimaging and killing brain cancer cells (GBM, U-87). These nanoplexes were built through coupling two nanoconjugates, produced using a facile, sustainable, green aqueous colloidal process ("bottom-up").
View Article and Find Full Text PDFHow do green municipal bonds affect carbon emissions in China? Evidence from the staggered difference-in-differences approach.
J Environ Manage
December 2024
Tianjin University of Commerce, Tianjin, China. Electronic address:
Under the "Dual Carbon Goals", China's municipal government bonds play a vital role in advancing local environmental governance. This paper constructs a quasi-natural experiment based on the issuance of green municipal bonds, and empirically examines its carbon emission reduction effects by using the staggered difference in differences approach. The issuance of green municipal bonds can substantially diminish the level of carbon intensity and pass a series of robustness tests.
View Article and Find Full Text PDFThe green gift: Environmental credit rating policy and loan contract terms.
J Environ Manage
December 2024
School of Business Administration, South China University of Technology, Guangzhou, Guangdong, 510641, China. Electronic address:
We explore the effect of China's unique environmental credit rating pilot policy on loan contract terms between firms and banks. First, we find that the environmental credit rating policy increases the amount of bank loans received by firms and lowers their borrowing costs. These results remain robust across a range of sensitivity tests.
View Article and Find Full Text PDFWant AI Summaries of new PubMed Abstracts delivered to your In-box?
Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!