Driving green innovation through public procurement: Evidence from government procurement lists and corporate innovation in China

Against the backdrop of intensifying global climate change and deepening ecological civilization construction, stimulating corporate green technology innovation has become a key lever for achieving carbon peak and carbon neutrality goals. Based on data from Chinese A-share listed companies spanning a ten-year period, this paper examines the impact mechanism of government green procurement on corporate green technology innovation. The research finds that government green procurement significantly promotes corporate green technology innovation, with this effect being more pronounced in state-owned enterprises and large enterprises, demonstrating distinct heterogeneity characteristics in terms of ownership and scale. In-depth mechanism testing reveals that government green procurement stimulates innovation vitality through two key pathways: alleviating corporate financing constraints and enhancing corporate reputation. Meanwhile, a sound institutional environment can significantly strengthen policy effectiveness. These findings not only enrich theoretical research on government procurement and corporate innovation but also provide important insights for promoting social green transformation and sustainable development, thereby contributing to multiple Sustainable Development Goals, including responsible consumption, climate action, and inclusive economic growth.