绿色信贷政策、低碳技术创新与企业环境绩效

Green Credit Policy,Low Carbon Technology Innovation and Enterprise Environmental Performance

选取2012—2021年中国沪深A股非金融上市公司数据,采用双重差分法检验绿色信贷政策对企业环境绩效的影响。结果表明:绿色信贷政策对于企业环境绩效具有显著促进作用,且绿色信贷政策对重污染企业环境绩效的提升效果显著高于非重污染企业。相较于非国有企业,国有企业环境绩效的提升效果更加明显;资本密集型企业环境绩效对绿色信贷政策变动的反应高于劳动密集型企业。进一步利用中介效应检验发现,“绿色信贷政策支持→低碳技术创新水平提升→企业环境绩效提高”的传导机制成立。对此,提出双管齐下提高企业环境绩效、因企制宜实施针对性绿色信贷政策、双线并进推动关键性低碳技术创新,以此促进企业可持续发展。

Select the data of non-financial listed companies in the Shanghai and Shenzhen A-shares from 2012 to 2021,the dual difference method is used to test the impact of green credit policies on corporate environmental performance.The results indicate that green credit policies have a significant promoting effect on corporate environmental performance,and the improvement effect of green credit policies on the environmental performance of heavily polluting enterprises is significantly higher than that of non heavily polluting enterprises.Compared to non-state-owned enterprises,the improvement effect of environmental performance of state-owned enterprises is more significant;The environmental performance of capital intensive enterprises is more responsive to changes in green credit policies than that of labor-intensive enterprises.Further utilizing the mediation effect test,it was found that the transmission mechanism of"green credit policy support→improvement of low-carbon technology innovation level→improvement of enterprise environmental performance"is established.In this regard,it is proposed to improve corporate environmental performance through a dual approach,implement targeted green credit policies tailored to the needs of enterprises,and promote key low-carbon technological innovation on a dual track,promoting sustainable development of enterprises.