Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises?
In China's carbon emission structure, the energy sector accounts for approximately 80 % of carbon emissions. Green technology innovation within the energy sector is therefore critical for China to attain its “carbon peaking and carbon neutrality” goals and sustain high-quality economic developm...
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| Format: | Article |
| Language: | English |
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Elsevier
2025-06-01
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| Series: | Sustainable Futures |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2666188825002448 |
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| author | Na Zhang Haoyuan Cheng Hang Lu Hui Jiang |
| author_facet | Na Zhang Haoyuan Cheng Hang Lu Hui Jiang |
| author_sort | Na Zhang |
| collection | DOAJ |
| description | In China's carbon emission structure, the energy sector accounts for approximately 80 % of carbon emissions. Green technology innovation within the energy sector is therefore critical for China to attain its “carbon peaking and carbon neutrality” goals and sustain high-quality economic development. To fully leverage the supportive role of green credit in the green innovation of energy enterprises, this study uses the promulgation of the Green Credit Guidelines in China as a quasi-natural experiment. It selects listed enterprises in the traditional energy sector as the treatment group and new energy listed enterprises as the control group. Using a difference-in-differences model, this paper investigates the impact of green credit policy on the green innovation of energy enterprises. The results indicate that, compared to new energy enterprises not subject to policy restrictions, green credit policy significantly enhance the green innovation level of traditional energy firms. This policy influences the green innovation of energy enterprises by tightening financing constraints and encouraging environmental information disclosure. The promoting effect of green credit policy on the green innovation of traditional energy enterprises is heterogeneous, being more pronounced for state-owned enterprises, those located in eastern regions, those with highly green-aware executives, and those holding green innovation patents. |
| format | Article |
| id | doaj-art-aad647671647498d8ef78b59cbf2ea59 |
| institution | DOAJ |
| issn | 2666-1888 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Sustainable Futures |
| spelling | doaj-art-aad647671647498d8ef78b59cbf2ea592025-08-20T02:39:59ZengElsevierSustainable Futures2666-18882025-06-01910067610.1016/j.sftr.2025.100676Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises?Na Zhang0Haoyuan Cheng1Hang Lu2Hui Jiang3Beijing Laboratory of National Economic Security Early-warning Engineering, Beijing Jiaotong University, Beijing, China; School of Economics and Management, Beijing Jiaotong University, Beijing, ChinaThe Hong Kong University of Science and Technology. Hong Kong,China; Corresponding author at: School of Economics and Management, Beijing Jiaotong University, Beijing, China.School of Economics and Management, Beijing Jiaotong University, Beijing, ChinaSchool of Economics and Management, Beijing Jiaotong University, Beijing, ChinaIn China's carbon emission structure, the energy sector accounts for approximately 80 % of carbon emissions. Green technology innovation within the energy sector is therefore critical for China to attain its “carbon peaking and carbon neutrality” goals and sustain high-quality economic development. To fully leverage the supportive role of green credit in the green innovation of energy enterprises, this study uses the promulgation of the Green Credit Guidelines in China as a quasi-natural experiment. It selects listed enterprises in the traditional energy sector as the treatment group and new energy listed enterprises as the control group. Using a difference-in-differences model, this paper investigates the impact of green credit policy on the green innovation of energy enterprises. The results indicate that, compared to new energy enterprises not subject to policy restrictions, green credit policy significantly enhance the green innovation level of traditional energy firms. This policy influences the green innovation of energy enterprises by tightening financing constraints and encouraging environmental information disclosure. The promoting effect of green credit policy on the green innovation of traditional energy enterprises is heterogeneous, being more pronounced for state-owned enterprises, those located in eastern regions, those with highly green-aware executives, and those holding green innovation patents.http://www.sciencedirect.com/science/article/pii/S2666188825002448G21G32O31Q01Q38Q48 |
| spellingShingle | Na Zhang Haoyuan Cheng Hang Lu Hui Jiang Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises? Sustainable Futures G21 G32 O31 Q01 Q38 Q48 |
| title | Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises? |
| title_full | Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises? |
| title_fullStr | Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises? |
| title_full_unstemmed | Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises? |
| title_short | Road to a greener future: How does green credit policy affect the green innovation of Chinese energy enterprises? |
| title_sort | road to a greener future how does green credit policy affect the green innovation of chinese energy enterprises |
| topic | G21 G32 O31 Q01 Q38 Q48 |
| url | http://www.sciencedirect.com/science/article/pii/S2666188825002448 |
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