Green Technology Innovation and Corporate Carbon Performance: Evidence from China

Hua Wang () and Zenglian Zhang ()
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Hua Wang: School of Economic and Management, University of Science and Technology Beijing, Beijing 100083, China
Zenglian Zhang: School of Economic and Management, University of Science and Technology Beijing, Beijing 100083, China

Sustainability, 2025, vol. 17, issue 12, 1-37

Abstract: Against global carbon neutrality goals and China’s “dual carbon” strategy, this study examines how green technology innovation shapes corporate carbon performance through a dual-path mechanism—improving enterprises’ resource utilization efficiency and environmental governance capabilities. Leveraging data from Chinese A-share listed firms (2007–2022) and methods including fixed effects, instrumental variables, and Heckman two-stage models, key findings include: (1) Green technology innovation significantly improves carbon performance. (2) This effect operates through two pathways: enhancing total factor productivity (TFP) and strengthening environmental governance. (3) Green media and investor attention amplify the positive impact of green innovation on carbon performance. (4) The effect remains significant but shows diminishing marginal returns over 1–4 future periods. (5) Non-state-owned enterprises and non-high-carbon industries exhibit more pronounced improvements. This research provides micro-level evidence for “technology-driven low-carbon transformation”, offering theoretical support for policy differentiation and corporate green technology strategies, with practical implications for achieving China’s “dual carbon” objectives.

Keywords: green technology innovation; corporate carbon performance; TFP; green media attention (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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