Abstract
Reducing pollution and carbon emissions is important but requires a large amount of capital. Green finance is becoming an important market-based instrument. Few literatures have focused on the direct impact of green finance on corporate environmental performance. This study investigates the effects of green finance on air pollution and carbon reduction in China’s industrial firms from 2008 to 2015. Results show that green finance promotes CO2 and air pollution reduction. Moreover, green finance has a synergistic effect on SO2 and carbon reduction, but not on reduction of dust and carbon emissions. Our findings suggest that green finance reduces emissions by improving corporate energy utilization efficiency. Furthermore, we find that the effects of green finance on emission reduction are more significant among non-state and non-listed firms. These findings have important implications for the development of green finance and synergistic reduction of air pollutants and carbon.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.