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Ecological accountability is an important means for the Chinese government to promote the development of green policies. In this study, a central environmental protection inspection was used as an exogenous shock event, China's A-sharelisted companies were selected as the research sample, and the impact of the central environmental protection inspection on the financialization behavior of heavily polluting enterprises was empirically tested. The research shows that the central environmental protection inspection significantly inhibited the financialization of heavily polluting enterprises. A mechanism analysis showed that the central environmental protection inspection mainly inhibited the financialization of enterprises by promoting green innovation, which shows that the implementation of a central environmental protection inspection can promote green innovation and transformation by forcing heavily polluting enterprises to return to their main business, produce a "crowding-out effect" on financial assets, and place a focus on sustainable and high-quality development. A heterogeneity test showed that the inhibitory effect of the central environmental protection inspection on enterprise financialization was more significant in the sample group of state-owned enterprises and areas with a higher level of development of green finance. This study provides a reference for evaluating the implementation effect and effectiveness of central environmental protection inspections and has significance for regulatory authorities in improving the revision of ecological accountability policies, promoting the green transformation of heavy pollution industries, and regulating the financial asset investment behavior of listed companies. [ABSTRACT FROM AUTHOR]

• Using the data of micro industrial enterprises and the quasi-natural experiment of the PNTR authorisation from the U.S. after China's accession to the WTO to investigate the impact of TPU decline on enterprise environmental performance. • Enterprises' SO2 emissions of enterprises in an industry with a large reduction in TPU after China obtained the PNTR authorisation from the U.S. will be reduced more than those of enterprises in an industry with less TPU reduction. • The decline in TPU helps reduce SO2 generation and strengthens enterprises' pollutants removal ability, thereby improving enterprises' front and terminal environmental performance. • The decline in TPU is conducive to improving enterprises' environmental performance under strong environmental regulation by local governments. Using the data of micro industrial enterprises and the quasi-natural experiment of the permanent normal trade relationship (PNTR) authorisation from the United States after China's accession to the World Trade Organization, this study investigates the impact of trade policy uncertainty (TPU) on enterprise environmental performance employing the difference-in-differences model. We found that the sulfur dioxide (SO2) emissions of enterprises in an industry with a large reduction in TPU after China obtained the PNTR authorisation will be reduced more than those of enterprises in an industry with less TPU reduction. The decline in TPU helps reduce SO2 generation and strengthen enterprises' pollutants removal, thereby improving enterprises' front and terminal environment performance. Under strong environmental regulation by local governments, the decline in TPU is conducive to improving enterprises' environmental performance. The impact of TPU decline mainly exists in the enterprises of high pollution industries, non-state-owned and the eastern area. [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]

• China Industrial Economic and Pollutant Emission data (CIEPE) with 1.28 million individual enterprise data. • The reduction of pollutants loading at different stages has synergic effects. • The response between national development strategies implementation and pollutants loading reduction has a hysteresis effect. • Three risks in China's industrial pollution control should be paid more attention. China has made great efforts in industrial pollution control, but for the different industrial sectors under various development stages, it is not so clear whether there is synergistic effects among them, and how it changes with the environmental policies. This study filled this knowledge gap by comiling the China Industrial Economic and Pollutant Emission data (WatSim-CIEPE) using 1.28 million individual enterprise data. The results demonstrated a power function decreasing trend for the emission per unit output value. The load reduction at different stages had synergic effects, and coastal cities reached the inflection point earlier. There is a completely opposite pattern between pollutant emission and GIOV in spatial evolution, mainly because the chemical and metal sectors with high pollutant emissions and low GIOV migrated to western China. The year gap between the implementation of the national development strategy and the break-point of gravity center variation of GIOV indicates a hysteresis effect for the influence of development policies. There may be three risks in China's industrial pollution control: (a) NH pollution gets serious in the western regions; (b) the food sector may become a new dominant pollution source; (c) the imbalance between industrial development and pollution control may further aggravate. [ABSTRACT FROM AUTHOR]