Greenwashing of Corporate Carbon Information and Availability of Bank Credit

Xiaoyu Liu

doi:doi:10.11648/j.si.20241206.12

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Greenwashing of Corporate Carbon Information and Availability of Bank Credit

Xiaoyu Liu^*

Published in Science Innovation (Volume 12, Issue 6)

Received: 6 September 2024 Accepted: 8 November 2024 Published: 14 November 2024

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Abstract

In recent years, as China's economy has gradually shifted to high-quality development, climate policies and sustainable finance have received widespread attention. In the current era of promoting the "dual-carbon" strategy, green finance plays an indispensable role in helping corporates achieve green transformation. However, it has been found that greenwashing behavior by corporates exists to different degrees in the environmental information disclosure of listed companies in China, and the phenomenon of selective disclosure and only talking about environmental performance is particularly prominent. Given that carbon information disclosure has become one of the credit standards for financial institutions to provide loans, this greenwashing behavior may hinder financial institutions from providing green loans and lead to an uneven distribution of credit resources. Based on the data of listed manufacturing companies in China from 2013 to 2022, this paper uses text analysis to measure the "greenwashing" behavior of corporates in terms of carbon information and discusses the impact of such speculation on the availability of bank credit. The study finds that the "greenwashing" behavior of corporates in terms of carbon information can improve the availability of bank credit. Moreover, this credit resource access effect is stronger in non-state-owned corporates, low-value corporates and corporates with high information opacity. However, this paper also confirms that media supervision and regional environmental regulations can mitigate the impact of cleaning on financing. The research results of this paper have policy significance for the sustainable development of corporates.

Published in	Science Innovation (Volume 12, Issue 6)
DOI	10.11648/j.si.20241206.12
Page(s)	98-104
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Greenwashing of Carbon Information, Availability of Bank Credit, Media Monitors, Regional Environmental Regulations

References

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APA Style

Liu, X. (2024). Greenwashing of Corporate Carbon Information and Availability of Bank Credit. Science Innovation, 12(6), 98-104. https://doi.org/10.11648/j.si.20241206.12

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ACS Style

Liu, X. Greenwashing of Corporate Carbon Information and Availability of Bank Credit. Sci. Innov. 2024, 12(6), 98-104. doi: 10.11648/j.si.20241206.12

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AMA Style

Liu X. Greenwashing of Corporate Carbon Information and Availability of Bank Credit. Sci Innov. 2024;12(6):98-104. doi: 10.11648/j.si.20241206.12

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@article{10.11648/j.si.20241206.12,
  author = {Xiaoyu Liu},
  title = {Greenwashing of Corporate Carbon Information and Availability of Bank Credit
},
  journal = {Science Innovation},
  volume = {12},
  number = {6},
  pages = {98-104},
  doi = {10.11648/j.si.20241206.12},
  url = {https://doi.org/10.11648/j.si.20241206.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.si.20241206.12},
  abstract = {In recent years, as China's economy has gradually shifted to high-quality development, climate policies and sustainable finance have received widespread attention. In the current era of promoting the "dual-carbon" strategy, green finance plays an indispensable role in helping corporates achieve green transformation. However, it has been found that greenwashing behavior by corporates exists to different degrees in the environmental information disclosure of listed companies in China, and the phenomenon of selective disclosure and only talking about environmental performance is particularly prominent. Given that carbon information disclosure has become one of the credit standards for financial institutions to provide loans, this greenwashing behavior may hinder financial institutions from providing green loans and lead to an uneven distribution of credit resources. Based on the data of listed manufacturing companies in China from 2013 to 2022, this paper uses text analysis to measure the "greenwashing" behavior of corporates in terms of carbon information and discusses the impact of such speculation on the availability of bank credit. The study finds that the "greenwashing" behavior of corporates in terms of carbon information can improve the availability of bank credit. Moreover, this credit resource access effect is stronger in non-state-owned corporates, low-value corporates and corporates with high information opacity. However, this paper also confirms that media supervision and regional environmental regulations can mitigate the impact of cleaning on financing. The research results of this paper have policy significance for the sustainable development of corporates.
},
 year = {2024}
}

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TY  - JOUR
T1  - Greenwashing of Corporate Carbon Information and Availability of Bank Credit

AU  - Xiaoyu Liu
Y1  - 2024/11/14
PY  - 2024
N1  - https://doi.org/10.11648/j.si.20241206.12
DO  - 10.11648/j.si.20241206.12
T2  - Science Innovation
JF  - Science Innovation
JO  - Science Innovation
SP  - 98
EP  - 104
PB  - Science Publishing Group
SN  - 2328-787X
UR  - https://doi.org/10.11648/j.si.20241206.12
AB  - In recent years, as China's economy has gradually shifted to high-quality development, climate policies and sustainable finance have received widespread attention. In the current era of promoting the "dual-carbon" strategy, green finance plays an indispensable role in helping corporates achieve green transformation. However, it has been found that greenwashing behavior by corporates exists to different degrees in the environmental information disclosure of listed companies in China, and the phenomenon of selective disclosure and only talking about environmental performance is particularly prominent. Given that carbon information disclosure has become one of the credit standards for financial institutions to provide loans, this greenwashing behavior may hinder financial institutions from providing green loans and lead to an uneven distribution of credit resources. Based on the data of listed manufacturing companies in China from 2013 to 2022, this paper uses text analysis to measure the "greenwashing" behavior of corporates in terms of carbon information and discusses the impact of such speculation on the availability of bank credit. The study finds that the "greenwashing" behavior of corporates in terms of carbon information can improve the availability of bank credit. Moreover, this credit resource access effect is stronger in non-state-owned corporates, low-value corporates and corporates with high information opacity. However, this paper also confirms that media supervision and regional environmental regulations can mitigate the impact of cleaning on financing. The research results of this paper have policy significance for the sustainable development of corporates.

VL  - 12
IS  - 6
ER  -

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Author Information

Xiaoyu Liu

School of Economics, Jinan University, Guangzhou, China

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APA Style

Liu, X. (2024). Greenwashing of Corporate Carbon Information and Availability of Bank Credit. Science Innovation, 12(6), 98-104. https://doi.org/10.11648/j.si.20241206.12

Copy | Download

ACS Style

Liu, X. Greenwashing of Corporate Carbon Information and Availability of Bank Credit. Sci. Innov. 2024, 12(6), 98-104. doi: 10.11648/j.si.20241206.12

Copy | Download

AMA Style

Liu X. Greenwashing of Corporate Carbon Information and Availability of Bank Credit. Sci Innov. 2024;12(6):98-104. doi: 10.11648/j.si.20241206.12

Copy | Download

@article{10.11648/j.si.20241206.12,
  author = {Xiaoyu Liu},
  title = {Greenwashing of Corporate Carbon Information and Availability of Bank Credit
},
  journal = {Science Innovation},
  volume = {12},
  number = {6},
  pages = {98-104},
  doi = {10.11648/j.si.20241206.12},
  url = {https://doi.org/10.11648/j.si.20241206.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.si.20241206.12},
  abstract = {In recent years, as China's economy has gradually shifted to high-quality development, climate policies and sustainable finance have received widespread attention. In the current era of promoting the "dual-carbon" strategy, green finance plays an indispensable role in helping corporates achieve green transformation. However, it has been found that greenwashing behavior by corporates exists to different degrees in the environmental information disclosure of listed companies in China, and the phenomenon of selective disclosure and only talking about environmental performance is particularly prominent. Given that carbon information disclosure has become one of the credit standards for financial institutions to provide loans, this greenwashing behavior may hinder financial institutions from providing green loans and lead to an uneven distribution of credit resources. Based on the data of listed manufacturing companies in China from 2013 to 2022, this paper uses text analysis to measure the "greenwashing" behavior of corporates in terms of carbon information and discusses the impact of such speculation on the availability of bank credit. The study finds that the "greenwashing" behavior of corporates in terms of carbon information can improve the availability of bank credit. Moreover, this credit resource access effect is stronger in non-state-owned corporates, low-value corporates and corporates with high information opacity. However, this paper also confirms that media supervision and regional environmental regulations can mitigate the impact of cleaning on financing. The research results of this paper have policy significance for the sustainable development of corporates.
},
 year = {2024}
}

Copy | Download

TY  - JOUR
T1  - Greenwashing of Corporate Carbon Information and Availability of Bank Credit

AU  - Xiaoyu Liu
Y1  - 2024/11/14
PY  - 2024
N1  - https://doi.org/10.11648/j.si.20241206.12
DO  - 10.11648/j.si.20241206.12
T2  - Science Innovation
JF  - Science Innovation
JO  - Science Innovation
SP  - 98
EP  - 104
PB  - Science Publishing Group
SN  - 2328-787X
UR  - https://doi.org/10.11648/j.si.20241206.12
AB  - In recent years, as China's economy has gradually shifted to high-quality development, climate policies and sustainable finance have received widespread attention. In the current era of promoting the "dual-carbon" strategy, green finance plays an indispensable role in helping corporates achieve green transformation. However, it has been found that greenwashing behavior by corporates exists to different degrees in the environmental information disclosure of listed companies in China, and the phenomenon of selective disclosure and only talking about environmental performance is particularly prominent. Given that carbon information disclosure has become one of the credit standards for financial institutions to provide loans, this greenwashing behavior may hinder financial institutions from providing green loans and lead to an uneven distribution of credit resources. Based on the data of listed manufacturing companies in China from 2013 to 2022, this paper uses text analysis to measure the "greenwashing" behavior of corporates in terms of carbon information and discusses the impact of such speculation on the availability of bank credit. The study finds that the "greenwashing" behavior of corporates in terms of carbon information can improve the availability of bank credit. Moreover, this credit resource access effect is stronger in non-state-owned corporates, low-value corporates and corporates with high information opacity. However, this paper also confirms that media supervision and regional environmental regulations can mitigate the impact of cleaning on financing. The research results of this paper have policy significance for the sustainable development of corporates.

VL  - 12
IS  - 6
ER  -

Copy | Download