Can emission right mortgage loan promote corporate innovation?

Zhi Yu, Yali Cao and Baoyin Qiu

Applied Economics, 2025, vol. 57, issue 4, 441-447

Abstract: In order to achieve the sustainable development goals by 2030, countries have initiated many different policies and reform programmes. But currently, we cannot find an optimal solution. Even though, improving the policy system step by step remains the most effective choice. Using a pilot policy of emission right mortgage loan in China, we construct a DID method to investigate the innovation effect of green financial policy. We find that this pilot policy can significantly promote corporate innovation, and this positive effect is more pronounced in non-state-owned firms and low financial development regions. This study improves our understanding of how to maximize the value of corporate ‘carbon assets’ in the mortgage market.

Date: 2025
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DOI: 10.1080/00036846.2024.2305151

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