The impact of green finance reform and innovation pilot zones on corporate pollution and carbon reduction: From the perspective of dual objective constraints.

Abstract

This paper explores the impact of green finance reform and innovation pilot zones on corporate pollution and carbon reduction based on panel data of A-share listed enterprises from 2010 to 2022. The study finds that green finance reform and innovation pilot zones promote the synergistic effects of corporate pollution and carbon reduction, with mechanisms such as alleviating financing constraints, promoting environmental investment, and enhancing green technological innovation playing important roles. The effects are more pronounced for heavily polluting enterprises, high-tech enterprises, and enterprises cities in low-carbon pilot with environmental courts and eastern area. Under effective economic and environmental objective constraints, green finance reform and innovation pilot zones will provide greater "acceleration" for corporate pollution and carbon reduction. The study indicates that green financing serves as a viable strategy to enhance the combined impact of corporate efforts in reducing both pollution and carbon emissions. It also represents a practical approach to simultaneously achieving economic development and ecological environmental goals.