Research on the Impact Mechanism of Green Technology Innovation on ESG performance

In the context of " Carbon peaking and carbon neutrality goals", the ESG concept of integrated environment, society and governance is an important standard for evaluating enterprises in promoting green and sustainable development of economy and fulfilling social responsibility. How to improve enterprise ESG performance is very important, and green technology innovation is one of the key ways to achieve enterprise ESG goals. Based on the panel data of A-share listed companies from 2009 to 2022, this paper uses the fixed-effect model for empirical testing. The research shows that green technology innovation has a significant role in promoting the ESG performance of enterprises; Environmental regulation plays a negative regulating role. The green technology innovation is divided into green product innovation and green process innovation, and it is found that green process innovation contributes to the improvement of green product innovation, so as to promote the ESG performance of enterprises. The impact of green technology innovation on ESG performance of enterprises is heterogeneous. For state-owned enterprises, enterprises in central and western regions and heavily polluting enterprises, improving green technology innovation can have a more positive impact on ESG performance of enterprises. In addition, after a series of endogeneity and robustness tests, the above conclusions are still valid. Businesses and governments should work together to promote green technology innovation to enhance ESG performance and promote green and sustainable economic and social development.