From supply chain coordination to carbon transparency: how green supply chain governance drives corporate carbon disclosure

Enhancing corporate carbon disclosure within supply chain networks represents a vital imperative for global climate governance, yet whether policy-driven green supply chain management fosters genuine environmental transparency remains underexplored. Using a panel of Chinese listed enterprises (2012–2024), this study exploits the staggered rollout of national Green Supply Chain Management Demonstration lists to implement a multi-period difference-in-differences design. The findings indicate that green supply chain management effectively promotes corporate carbon disclosure. This promoting effect operates through three transmission channels: green technological innovation, external reputational scrutiny from media and green investors, and government fiscal subsidies. Furthermore, downstream customer concentration weakens this impact due to proprietary cost concerns, whereas corporate digital transformation creates positive operational synergy. Crucially, the policy drives physical carbon emission reductions and mitigates future stock price crash risk, confirming substantive decarbonization rather than symbolic compliance. These findings highlight the necessity of aligning collaborative industrial environmental regulations with digital infrastructure and market-based incentives to advance supply chain transparency and corporate risk resilience.