1. Green finance and grey air: Assessing the impact of green finance pilot zones on company-level pollution in China
- Author
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Chen Luo, Huaiqian Lyu, Tianzuo Wen, Will W Qiang, and Harry F Lee
- Subjects
pilot zones for green finance reform and innovations (PZGFRI) ,air pollution ,PM2.5 concentrations ,propensity score matching ,difference-in-differences ,Environmental technology. Sanitary engineering ,TD1-1066 ,Environmental sciences ,GE1-350 ,Science ,Physics ,QC1-999 - Abstract
In 2017, China introduced the Pilot Zones for Green Finance Reform and Innovations to achieve sustainable and high-quality economic growth. While this policy aims to promote the green transition of businesses and has drawn significant attention, its micro-operational mechanism and firm-level impact remain largely unexplored. This study addresses this research gap by employing a quasi-experimental approach to examine the policy’s effects on companies. The empirical results of our research highlight an unexpected 5.54% surge in the PM _2.5 concentration levels in the vicinity of these firms. Given these findings, we call on policymakers to reflect on the environmental consequences following the roll-out of the Green Finance Reform. Simultaneously, we stress the significance of corporate responsibility in disclosing pertinent indicators and environmental data.
- Published
- 2024
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