Can green credit policy promote low-carbon technology innovation?. (20th July 2022)

• Record Type: Journal Article
• Authors: Chen, Zhigang; Zhang, Yuqi; Wang, Haisen; Ouyang, Xiao; Xie, Yuxi
• Is Part Of: Journal of cleaner production. Volume 359(2022)
• Publication Date: 2022-07-20
• Subjects: Green credit policy -- Low-carbon technology innovation -- R&D investment -- Management efficiency; Factory and trade waste -- Management -- Periodicals; Manufactures -- Environmental aspects -- Periodicals; Déchets industriels -- Gestion -- Périodiques; Usines -- Aspect de l'environnement -- Périodiques; 628.5
• DOI: 10.1016/j.jclepro.2022.132061
• Languages: English
• ISSNs: 0959-6526

Abstract

Abstract: While the advancing process of achieving the carbon-neutral goal, how green credit policies guide enterprises to green production and low-carbon technology innovation has received much attention Based on the microdata of Chinese enterprises from 2004 to 2019, this paper constructs a difference-in-differences (DID) model according to the Green Credit Guidelines to investigate the impact of green credit policies on enterprises' low-carbon technological innovation and its influence mechanism. The findings include that (1) green credit policy can significantly promote low-carbon technology innovation; (2) green credit policy has a more significant promotion effect on the low-carbon technology innovation of state-owned enterprises and ESG-certified companies; (3) mechanism analysis shows that green credit policies promote enterprises' low-carbon technology innovation by increasing their R&D investment and management efficiency. This study helps policymakers to better understand the impact of green credit policies on low-carbon technology innovation and provides evidence to support the promotion of energy conservation and emission reduction in developing countries.