The impact of green credit policy on corporate carbon emissions
DOI:
https://doi.org/10.54097/49n8qf67Keywords:
Green credit policy; carbon emissions; DID.Abstract
Green credit policy, as an important financial tool, has significant implications for promoting a low-carbon economy and achieving emission reduction targets. This study explored the impact of China's green credit policy on corporate carbon emissions, using the implementation of the Green Credit Guidelines(GCG) as a natural experiment, and designed a difference-in-difference model. Evidence suggests that GCG can reduce the carbon emissions of green credit restricted enterprises by increasing financing constraints. Further research has found that the carbon reduction effect of policies is more significant for smaller enterprises with stricter total factor productivity and regional environmental regulations. These findings contribute to understanding the implementation effectiveness of GCG and provide theoretical and practical support for achieving the carbon peaking and carbon neutrality goals.
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