Striving for sustainable development: Green financial policy, institutional investors, and corporate ESG performance

Corporate Social Responsibility and Environmental Management, Journal Year: 2023, Volume and Issue: 31(2), P. 1177 - 1202

Published: Sept. 26, 2023

Abstract Environmental, social, and governance (ESG) practices play an increasingly important role in achieving sustainable development goals. Drawing on institutional theory, this paper empirically explores whether how green financial policy affects corporate ESG performance. Taking China's pilot for finance reform innovation (GFP) as a quasi‐natural experiment, we employ the difference‐in‐differences model to investigate causal relationship between We find that GFP significantly improves The results are robust series of checks such parallel trend examination, placebo test, mitigation omitted variable bias, alternative variables, exclusion contemporaneous policies. heterogeneity analysis shows positive impact performance is more pronounced firms with tighter constraints, higher agency costs, external pressures. On basis, further document investee ownership. above findings indicate formal institution government‐led can positively affect performance, market participants‐institutional investors help strengthen effect. Overall, our study sheds light significant promoting sustainability.

Language: Английский

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Sustainable development pathways: Exploring the impact of green finance on urban metabolic efficiency

Sustainable Development, Journal Year: 2024, Volume and Issue: unknown

Published: June 18, 2024

Abstract Improving urban metabolic efficiency is crucial for sustainable development. This paper examines how green finance affects and its underlying mechanisms using city‐level data from China between 2010 2022. Additionally, the non‐linear impact of on analyzed a PLFC model. The research findings indicate that notably improves via constraint effect, incentive innovation compensation effect. conclusion remains valid after conducting robustness tests. analysis indicates effect outweighs Heterogeneity analyses demonstrate varies depending regions, city sizes, attributes. Furthermore, further investigation demonstrates exhibits efficiency, with education level robotics application serving as significant moderating factors. offers fresh insights into correlation along valuable references crafting more targeted policies.

Language: Английский

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Do green finance and green innovation affect corporate credit rating performance? Evidence from machine learning approach

Journal of Environmental Management, Journal Year: 2024, Volume and Issue: 360, P. 121212 - 121212

Published: May 26, 2024

Language: Английский

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Digital transformation and enterprise low-carbon innovation: A new perspective from innovation motivation

Journal of Environmental Management, Journal Year: 2024, Volume and Issue: 365, P. 121663 - 121663

Published: July 4, 2024

Language: Английский

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Critical Regulatory Characteristics for Sustainable Building Construction in South Africa

Sustainability, Journal Year: 2025, Volume and Issue: 17(5), P. 1830 - 1830

Published: Feb. 21, 2025

Despite continuous advocacy for sustainable building construction (SBC), it is hardly implemented in Africa. There have been varied views on whether regulatory characteristics concerning SBC should be voluntary or mandatory. Experts recommend customising to fit the specific country setting. This paper confirms critical of implementing South Africa (SA) effectively. Using a structured questionnaire, data were collected from professionals built environment SA. The analysis included descriptive statistics, determining group opinion differences, model tests, and statistics confirmatory factor (CFA). It was revealed that mandatory enforcement rules, assessment, certifications, incentive programs are necessary implement successfully. study’s practical implications stem its ability provide stakeholders policymakers with understanding key aspects help them properly direct reform plans. Laws, regulations, assessments must strictly enforced imply all grave corporation mandate accomplish development goals. By confirming characteristics, this study would drive assist government agencies, companies, policymakers, guiding improvement initiatives.

Language: Английский

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How green finance boosts carbon efficiency in agriculture: a quasi-experiment from China

China Agricultural Economic Review, Journal Year: 2024, Volume and Issue: 16(2), P. 267 - 289

Published: April 4, 2024

Purpose The research objective of this paper is to investigate the direct and indirect impacts green finance on agricultural carbon total factor productivity (ACTFP) within framework peaking neutrality (dual carbon) goals, while also identifying driving factors through an exponential decomposition ACTFP, aiming provide policy recommendations enhance financial support for low-carbon development. Design/methodology/approach In paper, Global Malmquist Luenberger (GML) Index method was employed analyze decompose spillover effects China’s pilot (GFPP) ACTFP were assessed using difference-in-differences (DID) spatial differences-in-differences (SDID) method, respectively. Findings After implementation GFPP, in area has experienced significant improvement, with enhancement technical efficiency serving as main force. addition, GFPP exhibits a positive effect, indicating it benefits both adjacent areas. Originality/value Within dual highlights agriculture emitter. by considering emission sole non-desired output, impact investigated DID thereby providing substantial validation hypotheses inferred from mathematical model. Subsequently, are analyzed conjunction econometric

Language: Английский

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Can green finance policy promote ecosystem product value realization? Evidence from a quasi-natural experiment in China

Humanities and Social Sciences Communications, Journal Year: 2024, Volume and Issue: 11(1)

Published: March 8, 2024

Abstract This study takes the Green Finance Pilot Zones (GFPZ) policy in China as a quasi-natural experiment and employs synthetic control method to test effect of GFPZ on ecosystem product value realization, using province-level gross (GEP) panel data from 2011 2020. The results reveal that significantly promotes realization products, this positive impact remains robust after spatial placebo studies, leave-one-out estimation, difference-in-differences (DID) method, controlling effects other impacts. Meanwhile, ecological transformation industries industry development serves critical mechanism pathways for realize products. In addition, we identify significant spillover resulting implementation. Heterogeneity analysis reveals is more central, western regions, areas with high financial levels. Moreover, heterogeneous goals, has greater impacts ecologically vulnerable followed by industrial upgrading while resource region not significant. These findings provide empirical evidence attributions green finance sustainable underscore pressing need enhancing effective adaptation local circumstances, making full use tools promote advance development.

Language: Английский

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Pilot policies for low-carbon cities in China: a study of the impact on green finance development and energy carbon efficiency

Climate Policy, Journal Year: 2024, Volume and Issue: 25(1), P. 137 - 152

Published: June 3, 2024

Improving the efficiency of energy carbon emissions (ECEE) is crucial for China's pursuit high-quality development. This paper assesses low-carbon city pilot policy (LCCPP) as a strategic measure to enhance ECEE and its alignment with global efforts mitigate climate change. By analyzing panel data from 205 Chinese cities 2003 2016, this study evaluates LCCPP's effectiveness spatial spillover effects on ECEE. Results indicate 6.5% increase in compared non-pilot counterparts, these findings substantiated through extensive robustness checks. The analysis underlying mechanisms reveals that LCCPP boosts by promoting green finance co-agglomeration producer services manufacturing. Furthermore, policy's impact varies: it more substantial non-resource-based those advanced synergistic industry agglomerations. Employing difference-in-differences approach, uncovers an inverted U-shaped pattern ECEE, suggesting nuanced regional influence policy. research contributes understanding policy-driven environmental improvements their economic co-benefits within urban settings.

Language: Английский

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Time-varying impacts of green credit on carbon productivity in China: New evidence from a non-parametric panel data model

Journal of Environmental Management, Journal Year: 2024, Volume and Issue: 360, P. 121132 - 121132

Published: May 15, 2024

Language: Английский

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Mandatory disclosure and corporate ESG performance: Evidence from China's “explanation for nondisclosure” requirement

Corporate Social Responsibility and Environmental Management, Journal Year: 2024, Volume and Issue: 32(1), P. 176 - 191

Published: Aug. 29, 2024

Abstract This paper examines the impact of mandatory disclosure requirement on corporate environmental, social, and governance (ESG) performance, specifically within framework China's “Dual‐Carbon” targets. Utilizing data ESG performance nonfinancial companies listed in mainland China from 2013 to 2021 implementation “explanation for nondisclosure” by Hong Kong Exchanges Clearing Limited (HKEX) 2016 as a quasi‐experiment, this study employs difference‐in‐difference approach empirical analysis. The findings reveal that has resulted an average increase 0.57 points scores corporations. Mechanism analysis indicates promotes curbing managerial myopia enhancing quality internal controls. Further using triple difference model (DDD) reveals is more pronounced heavily polluting industries. These are significant understanding role policies promoting green transformation sustainable development. results not only empirically support advancement toward goals but also offer insights global policymakers similar regulatory environments. Additionally, underscores pivotal frameworks aligning strategies with sustainability objectives.

Language: Английский

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