The Implementation of the New Environmental Protection Law and Its Impact on Corporate Development
DOI:
https://doi.org/10.54097/3x20s891Keywords:
New Environmental Protection Law, ESG, labor employment, transformation and upgrading, financing constraints, information disclosure.Abstract
"Environmental Protection Law of the People's Republic of China"was first carried out in 1989, marking the preliminary establishment of China's legal system. Since January 1, 2015, China has officially implemented the revised "Environmental Protection Law of the People's Republic of China" (hereinafter referred to as the "New Environmental Protection Law"), which has been further improved on the basis of the 1989 version with a focus on the coordinated development of economic growth and ecological protection and clearly defines the legal responsibilities of different entities such as enterprises, governments, and citizens, providing a better institutional guarantee for the advancement of environmental governance. This paper combines nearly five years of literatures on the impact of the implementation of the New Environmental Protection Law on corporate development, classifying and analyzing them, and summarizes its impact on corporate ESG levels, labor employment scale, transformation and upgrading, financing constraints, and information disclosure. The paper also predicts future development trends, and puts forward feasible policy recommendations.
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