ESG and green transition of enterprises: a perspective from emission reduction and development
企業のESGとグリーン移行：排出削減と発展の視点から (AI 翻訳)
Xu Fang, Maotao Liu
🤖 gxceed AI 要約
日本語
中国A株上場企業2009-2020年のデータから、ESGが炭素排出強度と全要素生産性の両面で企業のグリーン移行（GT）を促進することを実証。資金調達環境の改善、環境ガバナンス戦略の最適化、情報環境の改善が経路として特定された。環境関連法施行後はESG効果が強化され、グリーンクレジット不足やグリーンウォッシングの高い企業で効果が顕著。業界スピルオーバー効果も確認。
English
Using Chinese A-share listed firm data from 2009-2020, this study finds ESG significantly promotes corporate green transition (GT) in terms of both carbon emission intensity and total factor productivity. Channel analysis reveals improved financing environment, optimized environmental governance, and better information environment. Effects strengthen after new environmental laws. Heterogeneity shows stronger effect for firms with low green credit availability and high greenwashing. Industry spillover effects exist.
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
中国データではあるが、ESGが企業のグリーン移行に与える影響のメカニズム（資金調達、ガバナンス、情報開示）は、SSBJやTCFD対応が進む日本企業にも示唆に富む。特にグリーンウォッシングやピア効果の分析は、日本市場での開示充実に際して参考になる。
In the global GX context
This study offers robust empirical evidence on how ESG drives corporate decarbonization, relevant for global frameworks like ISSB and CSRD. The channel analysis and heterogeneity insights (e.g., greenwashing, green credit) provide actionable lessons for policymakers and practitioners designing effective climate disclosure and transition finance policies.
👥 読者別の含意
🔬研究者:Provides detailed empirical channel analysis linking ESG to green transition, useful for future research on ESG effectiveness and mechanisms.
🏢実務担当者:Shows that improving ESG performance can enhance financing and governance for green transition; firms should focus on ESG transparency and avoid greenwashing.
🏛政策担当者:Highlights the role of environmental regulation and green credit policies in amplifying ESG benefits, and suggests addressing greenwashing and promoting peer effects for industry-wide decarbonization.
📄 Abstract（原文）
Using data from 2009 to 2020 of A-share listed firms in China, this study investigates how ESG (Environmental, social, and governance) impacts corporate green transition (GT) from two perspectives: carbon emission intensity and total factor productivity. Results show that ESG significantly enhances corporate GT. Channel analysis shows that ESG improves the financing environment, optimizes environmental governance strategies, and improves the information environment, thereby promoting corporate GT. After the implementation of the new Environmental Protection Law (EPL) and the Environmental Protection Tax Law (EPTL), the GT with ESG advantages is significantly enhanced compared to those without ESG advantages. Heterogeneity analysis shows that the positive effects of ESG are more pronounced in firms with low availability of green credit and high levels of greenwashing. In addition, social responsibility of ESG has the greatest effect in enhancing GT, and ESG uncertainty can weaken the promotion effect of ESG on GT. The industry spillover effect test found that ESG has an industry emission reduction governance effect, and there is a peer effect of mutual influence on carbon emissions decisions among enterprises. Overall, our results reveal that ESG can promote GT to achieve sustainable development. First published online 26 March 2026
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3846/tede.2026.25616first seen 2026-05-15 21:30:04
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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。