Research on the Impact of Green Credit Policies on Green Innovation of Heavy Polluting Enterprises: A Case Study of Sichuan Province

Abstract

Green credit is an important green financial tool to stimulate enterprise green innovation. Enterprise green innovation is an important driving force for the coordinated development of the environment and economy, and achieving high-quality economic development. This article first analyzes the current development status of green credit in Sichuan Province from two perspectives: the scale and structure of green credit, and analyzes the current status of green innovation in heavily polluting enterprises from both economic and policy perspectives. Secondly, using listed companies in Sichuan Province from 2008 to 2015 as sample data, the total amount of green innovation of enterprises was measured by the number of green patent applications. The double difference model was used to explore the impact and mechanism of green credit policies on green innovation of heavily polluting manufacturing enterprises in Sichuan Province; Once again, conduct a scientific test on the derived results through empirical analysis. Finally, policy recommendations are proposed on how to utilize green credit development to promote green innovation in heavily polluting enterprises.