Can market-based environmental regulation curb corporate greenwashing? Evidence from China’s carbon emissions trading scheme
市場ベースの環境規制は企業のグリーンウォッシングを抑制できるか？中国炭素排出権取引制度からの証拠 (AI 翻訳)
Chen Ling, Yue Li, Fangyuan Xu
🤖 gxceed AI 要約
日本語
本研究は中国の炭素排出権取引制度（ETS）が企業のグリーンウォッシング行動に与える影響を分析。2012～2022年のA株上場企業パネルデータを用いた実証分析の結果、ETSの実施はグリーンウォッシングを有意に抑制することが示された。この効果は、グリーンイノベーションのレベルが高い企業や産業高度化が進んだ地域でより顕著であり、内部能力と外部環境の重要性を示唆している。
English
This study examines the impact of China's carbon emissions trading scheme (ETS) on corporate greenwashing using panel data of A-share listed firms from 2012 to 2022. The implementation of the ETS significantly curbs greenwashing, with stronger effects in firms with higher green innovation and regions with advanced industrial upgrading. The findings provide empirical evidence for the effectiveness of market-based regulation in promoting corporate environmental responsibility.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本でもカーボンプライシング導入が進む中、本論文は市場ベース規制がグリーンウォッシング対策として有効であることを示す実証エビデンスを提供する。特に企業のイノベーション能力や地域特性による効果の違いは、日本政策の設計・評価に示唆を与える。
In the global GX context
This paper contributes to global GX discourse by providing robust empirical evidence that market-based regulation can effectively deter corporate greenwashing. The findings are relevant for jurisdictions implementing carbon pricing, offering insights on firm-level and regional factors that enhance regulatory effectiveness, which is critical for policy design under ISSB and CSRD frameworks.
👥 読者別の含意
🔬研究者:Provides rigorous empirical evidence on the causal effect of carbon pricing on greenwashing, with moderating factors useful for further theoretical development.
🏢実務担当者:Demonstrates that participation in carbon markets can reduce greenwashing risks, encouraging firms to invest in genuine green innovation.
🏛政策担当者:Offers empirical support for carbon pricing as a tool against greenwashing, with insights on complementary policies needed to maximize impact.
📄 Abstract（原文）
Greenwashing refers to firms’ strategic responses that superficially comply with environmental and social responsibilities while substantially resisting them. In recent years, corporate greenwashing has attracted increasing attention, prompting calls for effective environmental regulations to curb such practices. Among various regulatory instruments, market-based mechanisms such as the carbon emissions trading scheme (ETS) have gained wide recognition. This study investigates the impact of China’s ETS implementation on corporate greenwashing behaviors, using a panel dataset of A-share listed firms from 2012 to 2022. The empirical results show that the implementation of the ETS significantly restrains greenwashing behaviors. Furthermore, the deterrent effect is more pronounced for firms with higher levels of green innovation and in regions experiencing more advanced industrial upgrading. These moderating effects highlight the importance of internal firm capabilities and external regional development in enhancing regulatory effectiveness. Robustness checks, including parallel trend tests and PSM-DID estimation, confirm the validity of our findings. This study enriches the understanding of China’s carbon trading system and provides empirical evidence for policymakers aiming to promote corporate environmental responsibility and improve the design of pilot carbon trading policies.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.3389/fenvs.2026.1704560first seen 2026-05-14 23:05:56
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