ESG greenwashing and organizational resilience: Exploring sustainable development paths from the perspective of unsystematic risk.

IF 8.4 2区 环境科学与生态学 Q1 ENVIRONMENTAL SCIENCES
Journal of Environmental Management Pub Date : 2025-08-01 Epub Date: 2025-06-30 DOI:10.1016/j.jenvman.2025.126395
Zhaoxia Wu, Siyu Long, Yumeng Wang
{"title":"ESG greenwashing and organizational resilience: Exploring sustainable development paths from the perspective of unsystematic risk.","authors":"Zhaoxia Wu, Siyu Long, Yumeng Wang","doi":"10.1016/j.jenvman.2025.126395","DOIUrl":null,"url":null,"abstract":"<p><p>Amid accelerating globalization, deepening green transitions, and digital upheavals, corporate organizational resilience has emerged as an essential element for economic resilience, with genuine ESG practices at its core. However, intentional distortions in ESG implementation, particularly pervasive greenwashing, pose major risks by eroding adaptive capacities, distorting market signals, and misallocating resources, ultimately impeding high-quality economic development. This study examines 2012-2022 data from China's A-share listed companies through the dual lenses of unsystematic risk transmission and governance failures, revealing how ESG greenwashing undermines organizational resilience by reducing competitiveness, tightening financing constraints, and stifling innovation. Evidence suggests that green management innovations and analyst attention reduce these effects by optimizing internal risk controls and increasing transparency. Research on organizational heterogeneity reveals that non-SOEs, tech-driven, and growth-stage firms with robust internal controls demonstrate stronger regulatory resistance through structural agility. Paradoxically, rigorous environmental regulations may counterproductively incentivize ESG greenwashing that erode dynamic capabilities. This study provides actionable insights for safeguarding environmental integrity and advancing sustainable development through a risk management framework to counteract compliance circumvention strategies.</p>","PeriodicalId":356,"journal":{"name":"Journal of Environmental Management","volume":"390 ","pages":"126395"},"PeriodicalIF":8.4000,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Environmental Management","FirstCategoryId":"93","ListUrlMain":"https://doi.org/10.1016/j.jenvman.2025.126395","RegionNum":2,"RegionCategory":"环境科学与生态学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2025/6/30 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
引用次数: 0

Abstract

Amid accelerating globalization, deepening green transitions, and digital upheavals, corporate organizational resilience has emerged as an essential element for economic resilience, with genuine ESG practices at its core. However, intentional distortions in ESG implementation, particularly pervasive greenwashing, pose major risks by eroding adaptive capacities, distorting market signals, and misallocating resources, ultimately impeding high-quality economic development. This study examines 2012-2022 data from China's A-share listed companies through the dual lenses of unsystematic risk transmission and governance failures, revealing how ESG greenwashing undermines organizational resilience by reducing competitiveness, tightening financing constraints, and stifling innovation. Evidence suggests that green management innovations and analyst attention reduce these effects by optimizing internal risk controls and increasing transparency. Research on organizational heterogeneity reveals that non-SOEs, tech-driven, and growth-stage firms with robust internal controls demonstrate stronger regulatory resistance through structural agility. Paradoxically, rigorous environmental regulations may counterproductively incentivize ESG greenwashing that erode dynamic capabilities. This study provides actionable insights for safeguarding environmental integrity and advancing sustainable development through a risk management framework to counteract compliance circumvention strategies.

ESG洗绿与组织弹性:非系统性风险视角下的可持续发展路径探索
在全球化加速、绿色转型深化和数字化剧变的背景下,企业组织弹性已成为经济弹性的一个基本要素,而真正的ESG实践是其核心。然而,在实施ESG过程中故意扭曲,尤其是普遍的“洗绿”行为,会通过侵蚀适应能力、扭曲市场信号和资源错配,最终阻碍高质量的经济发展,从而构成重大风险。本研究通过非系统性风险传导和治理失灵的双重视角,分析了中国a股上市公司2012-2022年的数据,揭示了ESG“洗绿”是如何通过降低竞争力、收紧融资约束和抑制创新来破坏组织弹性的。有证据表明,绿色管理创新和分析师的关注通过优化内部风险控制和提高透明度来减少这些影响。对组织异质性的研究表明,非国有企业、技术驱动型企业和具有健全内部控制的成长期企业通过结构敏捷性表现出更强的监管阻力。矛盾的是,严格的环境法规可能会适得其反地激励ESG“漂绿”,从而侵蚀动态能力。本研究为通过风险管理框架抵制规避合规策略来保护环境完整性和促进可持续发展提供了可行的见解。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
Journal of Environmental Management
Journal of Environmental Management 环境科学-环境科学
CiteScore
13.70
自引率
5.70%
发文量
2477
审稿时长
84 days
期刊介绍: The Journal of Environmental Management is a journal for the publication of peer reviewed, original research for all aspects of management and the managed use of the environment, both natural and man-made.Critical review articles are also welcome; submission of these is strongly encouraged.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:604180095
Book学术官方微信