Do corporate green commitments promote green investments?

DOI

10.2991/978-94-6463-304-7_20How to use a DOI?

Keywords

Corporate green commitments; Corporate greenwashing; Voluntary environmental regulation; Green investments

Abstract

With the development of the international green commitment movement, an increasing number of companies have begun to respond to the green commitment trend. However, a crucial concern arises: corporate green commitments might become "greenwashing," lacking real implementation. The mismatch between commitments and actions delays the opportunity for environmental governance and hinders the realization of global carbon targets. Based on the CDP disclosure questionnaire data, we construct the green commitments database of China's listed enterprises, use China's A-share listed enterprises from 2009 to 2021 as research samples, divide corporate green commitments into the quality and quantity of commitments, study their impact on green investments, and further study the moderating effect of the external environmental pressure and enterprises’ internal environmental awareness. The results show that the quality of green commitments is positively correlated with green investments, while the quantity of these commitments has no positive effect on such investments. Further analysis shows that enterprises’ internal environmental awareness has a positive moderating effect on the relationship between green commitments and green investments. External environmental pressure from government regulations and public concern promotes the relationship between green commitment quality and green investments; however, the degree of market competition negatively moderates the relationship between green commitments and green investments. Our findings not only respond to substantive debates over corporate green commitments but also discover a theoretical basis for enterprises to engage in sustainable management.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Hongwei Cheng
AU  - Dingrui Dong
AU  - Yi Feng
PY  - 2023
DA  - 2023/12/04
TI  - Do corporate green commitments promote green investments?
BT  - Proceedings of the 3rd International Conference on Digital Economy and Computer Application (DECA 2023)
PB  - Atlantis Press
SP  - 183
EP  - 196
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-304-7_20
DO  - 10.2991/978-94-6463-304-7_20
ID  - Cheng2023
ER  -