AI Article Synopsis
- Reducing carbon emissions from polluting industries is essential for achieving global emission reduction targets, and green credit policies can effectively encourage these enterprises to adopt greener practices.
- The study uses data from a 2017-2022 survey of Chinese industrial enterprises to assess how green credit policies impact the emissions of highly polluting sectors and their productivity.
- Findings indicate that while green credit policies significantly lower carbon emissions, variations in their effects on total factor productivity (TFP) can challenge the greening process, highlighting the need for tailored approaches in implementing these policies.
Article Abstract
Reducing carbon emissions from highly polluting enterprises is crucial to meeting the world's overall carbon emission reduction targets. Green credit policy can be effective in guiding enterprises to reduce their carbon emissions and is essential to achieving the dual-carbon targets. This study uses micro-data from a 2017-2022 follow-up survey of industrial enterprises in China and a quasi-natural experiment to evaluate whether green credit policy aligned with the dual-carbon targets enable highly polluting enterprises to become "green" by reducing emissions. The results show that green credit policy can lead highly polluting enterprises to significantly reduce carbon emissions, and total factor productivity (TFP) growth plays an intermediary role in this transition. The different impact of green credit policy on TFP may impede the greening process for highly polluting enterprises, with this hindering effect exhibiting scale heterogeneity. This study offers empirical evidence for evaluating green credit policy aligned with China's dual-carbon target and provide insights into leveraging green credit policy to advance this process.
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| http://dx.doi.org/10.1016/j.jenvman.2024.121981 | DOI Listing |
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