Corporate technology for social good is an important philosophy and action for enterprises to incorporate social issues and social needs into their core business activities, provide goodwill products/services based on technology innovation, and promote the integrated development of social and commercial values, which has become a heated topic in academia. Moreover, a better understanding of the relationship between corporate technology for social good and its predictors has significant implications for enterprise managers. The aim of this study is to explore the causal link between geographic distance and corporate technology for social good, and to investigate the moderating roles of institutional environment and regional innovation capability. Using available data for A-share listed companies in the Shanghai and Shenzhen stock markets of China between 2015 and 2020, this study adopts Ordinary Least Squares regression to empirically test the effect of geographic distance on corporate technology for social good, including the moderating roles of institutional environment and regional innovation capability in the geographic distance-corporate technology for social good link. The results show that geographic distance has a significant negative impact on corporate technology for social good. In other words, the shorter the geographic distance between enterprises and central cities, the better is the performance of corporate technology for social good. Besides, institutional environment and regional innovation capability can moderate the negative impact of geographic distance on corporate technology for social good. These obtained findings promote the extension of mature theoretical achievements such as stakeholder theory and institutional theory to the research field of corporate technology for social good, and expand the boundaries of existing theoretical applications. The results of the study also open the “black box” of the relationship between geographic distance and corporate technology for social good, which offer insights into geographic location and institutional factors influencing corporate technology for social good engagement. Moreover, the study is a useful supplement to the existing exploration of the drivers of corporate technology for social good from theoretical perspectives, and provides practical references for enterprises to actively participate in corporate technology for social good and the government to strengthen ethical governance of science and technology in the process of achieving sustainable development.