Evaluating the Innovation-Boosting Potential of Low-Carbon Pilot Policies: A Multi-Subject Co-Governance Perspective

Changlin Ji () and Yuwei Feng
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Changlin Ji: Northeast Electric Power University
Yuwei Feng: Northeast Electric Power University

Journal of the Knowledge Economy, 2025, vol. 16, issue 2, No 9, 6033-6072

Abstract: Abstract In today’s world, the intersection of sustainable development, innovation, and environmental consciousness has become paramount for economic growth and ecological preservation. This research paper delves into the intricate dynamics between low-carbon pilot policies, corporate environmental, social, and governance (ESG) performance, and green innovation, focusing on Chinese A-share listed companies in Shanghai and Shenzhen from 2010 to 2022. The study challenges conventional views of low-carbon policies as external disruptors and integrates businesses and the public into the fabric of ecological environment governance. It examines the positive impact of low-carbon pilot policies on ESG outcomes and distinguishes their differential effects on state-owned and large-scale businesses. Furthermore, the research uncovers the pivotal role of managerial green awareness and the substitution effect of public environmental attention on the effectiveness of low-carbon policies. The paper introduces a novel theoretical framework highlighting the symbiotic relationship between ESG performance and green innovation, underlining the interplay between policy initiatives, managerial decisions, and public engagement. It expands our understanding of how public attention and managerial environmental consciousness contribute to the success of carbon emission reduction efforts. From a managerial perspective, this research underscores the importance of businesses proactively responding to government calls for increased environmental investment and leveraging strong environmental performance to enhance overall competitiveness. Policymakers are urged to tailor environmental governance policies, offering targeted incentives to heavily polluting and small-scale enterprises. Collaboration among different levels of government, businesses, and the public is essential for establishing an efficient governance system and fostering green innovation and sustainable economic development. This study advances the discourse on sustainable development, environmental stewardship, and policy implementation, providing valuable insights for policymakers, businesses, and researchers alike.

Keywords: Low-carbon society; Pilot policies; Green technological innovation; ESG performance; Environmental awareness; Policy evaluation (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s13132-024-01787-2

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