The Impact Of Green Credit Policy On The Quality Of Environmental Information Disclosure In The Steel Industr

In 2022,the scale of China’s green finance market has leapt to the forefront of the world,and the green finance business has shown rapid development.On the one hand,green credit is a key measure to implement the "dual carbon" strategy and realize financial support for the real economy,which is conducive to realizing a resource-saving and environment-friendly society and an important financial means to promote sustainable economic and social development.On the other hand,green credit promotes the realization of a green economy,reduces environmental risks,and improves corporate governance,social and environmental performance.In 2011,the Ministry of Environmental Protection issued the "Green Credit Guidelines for China’s Steel Industry",and the steel industry,as a major consumer of energy and carbon emissions,is an important area to achieve green and low-carbon development,and must assume more social and environmental responsibilities,unswervingly implement the concept of green and sustainable development,strengthen environmental information disclosure,improve information transparency,and play a guiding role in policies.Based on the existing research,this paper selects the relevant data of listed companies in heavily polluting industries from 2009 to 2019,and uses the double difference method to conduct empirical analysis to explore the impact of the promulgation of the Green Credit Guidelines for China’s Steel Industry on the environmental information disclosure of the steel industry.The study shows that under the clear industry green credit policy,the quality of environmental information disclosure of steel enterprises has been significantly improved.Secondly,the green credit policy has a positive effect on the quality of environmental information disclosure of steel enterprises by strengthening the financing constraints of enterprises.Further exploration shows that there is a time lag in the policy,and the impact effect of the policy in the previous years is not significant,but with the long-term implementation of the policy,the dynamic effect is constantly significant,and the policy has continuous influence.After conducting empirical research on the industry-wide data,this paper takes Baosteel as an example to conduct a case analysis as a specific application of the empirical results,and finds the problems missed by the traditional empirical research method,so as to achieve complementary effects.This paper analyzes the company profile,financing status and environmental information disclosure quality of Baosteel Co.,Ltd.,and finds that Baogang Co.,Ltd.has a strong dependence on bank credit financing methods,and the scale of bank credit is large.Under the pressure of green credit policies,in order to reduce financing costs and alleviate financing difficulties,the quality of environmental information disclosure of Baosteel Co.,Ltd.has been significantly improved,but there are still problems such as lax implementation of green credit policies,non-standard disclosure,and high subjective selectivity.Therefore,in view of specific problems,this paper puts forward relevant suggestions from outside and within enterprises,aiming to strengthen the implementation of green credit policies,improve the quality of environmental information disclosure,and improve the efficiency of environmental information use.