Research On The Impact Of Green Finance On Enterprise Green Technology Innovation

At present,green finance has become one of the important issues in the world.Meanwhile,green technology innovation has also become an important means for green finance to promote high-quality economic development.However,in the process of transformation and upgrading,enterprises in heavily polluting industries are unable or unwilling to take the initiative to carry out green technology innovation due to the huge investment in pollution control.As a result,they cannot effectively control the generation and emission of environmental pollutants.In view of this,this paper explores whether the development of green finance will affect the level of Chinese heavy pollution industry enterprises’ green technology innovation from the perspective of the level of green technology innovation.This paper analyses the current development of green finance and green technology innovation at first.Secondly,the influence of green finance on the green technology innovation of heavy polluting enterprises is discussed theoretically and four hypotheses are put forward.The heavy polluting enterprises in China’s Shanghai and Shenzhen A-share trading markets from 2008 to 2021 are selected as the research objects for empirical test.The empirical results show that: first,the development of green finance is conducive to improving the green technology innovation level of heavy polluting enterprises;Second,green finance can improve the degree of financing constraints of heavy polluters,so as to have a certain impact on their green technology innovation.Third,green finance can improve the green technology innovation ability of state-owned heavy polluting enterprises and heavy polluting enterprises in central and western China.According to the empirical results of this paper,finally some relevant policy suggestions,so as to better promote our green finance development.At the government level,one is to improve the information disclosure mechanism;Second,build a complete supervision system;Third,promote balanced development among regions;Fourth,we will increase support for enterprises.At the enterprise level,first,strengthen enterprise environmental management;Second,the enterprise strategy adjustment;Third,we will improve supply chain management.