The Impact of Economic Policy Uncertainty on Enterprise Green Innovation: A Study on the Moderating Effect of Carbon Information Disclosure

Abstract

In the context of achieving carbon peaking and carbon neutrality, China has introduced a series of policies to encourage enterprises to adopt green innovation behavior. However, enterprises are faced with an uncertain policy environment surrounding green innovation decision-making; the mechanisms that influence these decisions are poorly understood; and the regulatory role of carbon information disclosure quality against the background of the dual carbon goals is unclear. We found that the increase in economic policy uncertainty is not conducive to enterprises’ decision-making on green innovation. However, an increase in the quality of carbon information disclosure can promote green innovation in enterprises. Additionally, the quality of carbon information disclosure plays a moderating role in economic policy uncertainty and corporate green innovation. Enterprises can mitigate the negative impact of economic policy uncertainty on corporate green innovation by ensuring high-quality carbon information disclosure to adapt to national policies and improve the level of innovation.