The impact mechanism of climate investment and financing policies on corporate carbon emission reduction: the mediating effect of financing constraints and the moderating effect of market competition

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

🔬研究者:Gains insights into the causal mechanism linking climate finance policy to corporate carbon reduction, with mediating and moderating effects.

🏢実務担当者:Useful for corporate sustainability teams to understand how financing constraints affect their ability to reduce emissions under policy pressure.

🏛政策担当者:Directly relevant for regulators designing climate investment policies, emphasizing the need to address financing barriers and consider market competition.

This study discusses the impact of climate investment and financing policies (CIFP) on corporate carbon emissions and its mechanism. The study finds that the CIFP can effectively promote corporate carbon emission reduction and have passed a series of robustness tests. The mechanism analysis shows that the CIFP mainly reduce corporate carbon emissions by alleviating the financing constraints faced by enterprises, and market competition has a negative moderating effect on the above emission reduction effects. Heterogeneity analysis shows that the CIFP have heterogeneity in carbon emissions of enterprises. The results reveal the interaction between policy, financing and corporate behavior, and provide a reference for optimizing the design of the CIFP and promoting enterprises to achieve green transformation in different market structures.