Environmental Regulation and the Credibility of Corporate Climate Commitments: Evidence from China’s Net-Zero Transition
環境規制と企業の気候コミットメントの信頼性：中国のネットゼロ移行からの証拠 (AI 翻訳)
Aobo Yue, Kei Un Wong, Zongyu Song, Longsheng Wu
🤖 gxceed AI 要約
日本語
本研究は、中国の大気汚染防止行動計画の実施を自然実験として、厳格な環境規制が企業のグリーンウォッシングを抑制するかを検証。差の差分析の結果、規制は環境主張と実際のパフォーマンスの乖離を約25%減少させ、その効果はグリーン技術革新と公衆の環境関心を通じて作用することを示した。
English
This study uses China's Air Pollution Prevention and Control Action Plan as a quasi-natural experiment to examine whether stringent environmental regulation reduces corporate greenwashing. Using a multi-period difference-in-differences model, it finds that regulation decreases the gap between environmental discourse and performance by about 25%, driven by green innovation and public concern.
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
本論文は、中国の規制が企業のグリーンウォッシング抑制に有効であることを示し、日本の気候開示制度（SSBJなど）の信頼性向上や、規制と市場メカニズムの連携に示唆を与える。
In the global GX context
This paper provides causal evidence from China that command-and-control regulation can enhance the credibility of corporate climate commitments, offering insights for global policymakers (e.g., SEC climate rule, CSRD) on how regulation interacts with greenwashing and disclosure reliability.
👥 読者別の含意
🔬研究者:Provides causal evidence on the effectiveness of environmental regulation in reducing corporate greenwashing, with mechanisms and heterogeneous effects.
🏢実務担当者:Highlights the importance of aligning environmental claims with actual performance, and how regulation can strengthen disclosure credibility.
🏛政策担当者:Demonstrates that stringent command-and-control regulation can improve the informational foundations for net-zero transitions, informing policy design.
📄 Abstract（原文）
Achieving a credible net-zero transition requires reliable corporate environmental information to support effective climate governance. When firms overstate environmental commitments without corresponding improvements in actual performance, regulatory signals become distorted, and decarbonization efforts are weakened. This study examines whether stringent command-and-control environmental regulation enhances the credibility of corporate climate commitments. Using the staggered implementation of China’s Air Pollution Prevention and Control Action Plan as a quasi-natural experiment, we construct a firm-level measure of corporate greenwashing that captures the divergence between environmental discourse and regulatory performance. Based on a multi-period difference-in-differences model, the results indicate that environmental regulation significantly reduces corporate greenwashing, with the probability of inconsistency between environmental claims and actual behavior declining by approximately 25 percent relative to the sample mean. Mechanism analysis shows that this effect operates through increased green technological innovation and heightened public environmental concern, which together strengthen substantive compliance and external monitoring. The moderating analysis shows heterogeneous responses across firms: board independence strengthens the policy’s inhibitory effect, while market share and institutional ownership attenuate it. Overall, the findings suggest that command-and-control regulation improves the credibility of disclosure and reinforces the informational foundations necessary for an effective net-zero transition.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3390/su18073575first seen 2026-05-15 17:38:31
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