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December 14, 2023Frontiers in Ecology and EvolutionOpen Access

Carbon reduction effect of ESG: empirical evidence from listed manufacturing companies in China

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Authors

JYJian YeHunan UniversityWXWenhua XuWuyi University

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Implication

Panel data analysis reveals ESG performance significantly reduces corporate carbon emissions in manufacturing firms, indicating green innovation and digital tools accelerate decarbonization.

Key Points

  • To examine the impact of corporate ESG performance on carbon emission reduction and determine the underlying mechanisms and moderating conditions in the manufacturing sector.
  • Conducted an empirical panel data analysis on Chinese listed manufacturing firms spanning 2010 to 2020.
  • Assessed transmission channels including green technology innovation, corporate operational efficiency, and managerial short-sightedness.
  • Evaluated heterogeneity across environmental regulation strictness, industry competition, capital intensity, and the moderating role of digital transformation.
  • Higher ESG performance significantly decreased corporate carbon emissions, primarily driven by enhanced green technology innovation, improved firm efficiency, and reduced managerial short-sightedness.
  • The carbon-reducing effect of ESG performance was substantially more pronounced among firms operating under strict environmental regulations, intense market competition, and high capital intensity.
  • Digital transformation exerted a significant positive moderating effect, further amplifying the carbon reduction impact of ESG performance.

Cite This Study

Ye et al. (2023) studied this question.

synapsesocial.com/papers/6a1289fbbb918b6e5b678ed7https://doi.org/10.3389/fevo.2023.1311777
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