Abstract
Green finance integrates the concept of environmental governance into the financial industry, which is conducive to sustainable development. Applying the mediating effect model, this paper investigates the effect of green finance on urban haze pollution and explores the mediating role of technological innovation of enterprises between them. Based on a sample of 639 enterprises in China over 2016–2019, a significantly negative effect of green finance on urban haze pollution is found. An increase of one standard deviation in green finance decreases PM2.5 concentration by 8.8 μg/m3, ceteris paribus. Further, green finance may improve environmental quality by promoting technological innovation. Considering the heterogeneity of enterprise ownership, this mediating effect exists in non-state-owned enterprises, while it cannot be observed in state-owned enterprises. This study proposes a new solution for pollution: using green financial tools to promote environmentally friendly technological progress.
Funder
National Natural Science Foundation of China
National Social Science Foundation of China
Chongqing Social Science Planning Project
Fundamental Research Funds for the Central Universities
Subject
Energy (miscellaneous),Energy Engineering and Power Technology,Renewable Energy, Sustainability and the Environment,Electrical and Electronic Engineering,Control and Optimization,Engineering (miscellaneous)
Cited by
74 articles.
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