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ESG implementation, public environmental concern, and corporate green technology innovation: analysis based on the background of China's "Dual Carbon" targets

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  • Binghong Lin

    (Xi’an University of Technology)

  • Bingxiang Li

    (Xi’an University of Technology)

  • Dan Zhang

    (Xi’an University of Technology)

Abstract

In the context of China achieving "Dual Carbon" targets, We take our sample of A-share listed companies from 2015 to 2022 to analyze the impact of ESG implementation on corporate green technology innovation. Baidu search index is used to measure public environmental concern and test its moderating effect on the relationship between the two mentioned above. The results show that ESG implementation can significantly promote corporate green technology innovation, and public environmental concern will enhance the promotion effect. Heterogeneity test shows that in non-state-owned companies, companies that hire international "Big Four" audit firms, companies that implement equity incentives, companies in the eastern region, companies in regions with higher marketization level, and companies in regions with higher level of Confucian culture embedding, the promotion effect of ESG implementation on corporate green technology innovation is more significant. Further mechanism test shows that ESG implementation mainly promotes corporate green technology innovation by alleviating financing constraints through "resource effect" channel, increasing R&D investment through "anchoring effect" channel, and inhibiting inefficient investment through "governance effect" channel. The results of this study provide a useful reference for clarifying the mechanism of ESG implementation and public environmental concern in promoting corporate green technology innovation, so as to promote the realization of the "Dual Carbon" targets.

Suggested Citation

  • Binghong Lin & Bingxiang Li & Dan Zhang, 2025. "ESG implementation, public environmental concern, and corporate green technology innovation: analysis based on the background of China's "Dual Carbon" targets," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(10), pages 24271-24308, October.
    • Handle: RePEc:spr:endesu:v:27:y:2025:i:10:d:10.1007_s10668-024-04670-x
    DOI: 10.1007/s10668-024-04670-x
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