Search

Under the strategic background of implementing the new development concept, there is an important question to be answered about whether the' responsibility to people' water pollution control policy can promote corporate green innovation while improving the environment. Based on the panel data of Shanghai and Shenzhen A-share listed companies from 2009 to 2019, this paper empirically tested the impact of the implementation of the river chief system on corporate green innovation using the multi-period DID method. This research concluded that the river chief system could significantly improve corporate green innovation. After a series of necessary tests, such as the parallel trend test and placebo test, the conclusion remained robust. The mechanism analysis showed that the policy effect of the river chief system was mainly realized through two channels, namely, internal incentive and external pressure, and that the effect of external pressure was stronger than that of internal incentive. Further research showed that the governance power of local river chiefs had a lax effect at the boundaries of prefecture-level cities, and the promotion incentives of officials also affected the policy effect to a certain extent. More importantly, under the policy background of the river chief system, local officials were more active in water pollution control and could also monitor enterprises far away from the rivers. In addition, the results of the heterogeneity analysis showed that: ① Compared with small enterprises, large enterprises received more attention from policymakers, and the river chief system had a stronger regulatory impact on large enterprises, whose green innovation level had a more significant improvement. ② Compared with private enterprises, state-owned enterprises responded more positively to the river chief system policy, and the green innovation output stimulated by the policy was higher. ③ Compared with other industries, enterprises in the water pollution industry were less affected by the river chief system policy. This paper found that these enterprises mainly dealt with environmental governance pressure by reducing production rather than focusing on green innovation. This study provides a policy basis for implementing the environmental regulation policy of' responsibility to people' and for realizing the dual goals of environmental protection and economic development. It also provides theoretical support and practical inspiration for the refined implementation of environmental regulation policies from multiple perspectives, such as internal incentives, external media supervision, and enterprise heterogeneity. [ABSTRACT FROM AUTHOR]

China' s goal of achieving peak carbon emissions by 2030 is the fundamental foundation for its scheduled achievement of carbon neutrality by 2060. Taking 280 prefectural-level cities in China from 2006 to 2019 as the research object and the achievement of the carbon peak goal by 2030 as the rigid constraint, this study proposed the logic of 'symbiosis-co-governance-sharing' and focused on the characteristics of symbiosis on carbon emissions and air pollution. On the basis of the quantitative decomposition of the annual goal of reaching peak carbon emissions and the identification of the profit and loss deviation on both carbon emissions and air pollution, this study examined the co-governance synergistic effects of carbon and air pollution and the sharing paths. The results showed that: (1) The goal of reaching peak carbon emissions played a significant synergistic role in reducing pollution and carbon emissions, which could promote the development of cities from deviation to balance and optimization and promote the urban function of making ' bad to good, good to better, and better to best, (2) The synergistic effects of the carbon peak goal on reducing pollution and carbon emissions showed a significant heterogeneous selection effect. In China' s western cities, resource-based cities, environmental protection key cities, and first-mover cities, these effects played a more important role and had a stronger influence. (3) The sharing paths of the synergistic effects lay in the dual perspectives of 'internal' and 'external' source management-process control-end-of-pipe blocking and the dynamic matching of external environmental policy uncertainty. In the continuous promotion of the ' dual carbon' goals, close attention should be paid to carbon reduction and the optimization of the design of multiple sharing paths to enhance the synergistic effects of carbon and pollution reduction. In specific, we should: (1) strengthen source management, control total fossil energy consumption at the source, adjust industrial structure, and focus on energy saving and consumption reduction; (2) strictly control process management, investigate the pollution transfer phenomenon caused by differences in environmental regulation levels and the consequences of profit and loss deviation, and promote the construction of green transportation system through multi-wheel drive; (3) highlight end-of-pipe blocking, implement the whole process of governance, monitoring, and emission reduction, enhance green innovation and fully utilize carbon reduction and sink increase; (4) use dynamic adjustment to achieve internal and external matching and timely implement environmental policies according to local conditions so as to achieve adjustment and precise regulations on time. [ABSTRACT FROM AUTHOR]