Research on the Impact of Green Credit on Enterprises' Green Innovation

In recent years, environmental problems have been highlighted as serious as well as urgent, and green finance has gradually become a hot topic. As green credit has evolved, the academic research and discussion on it is also very enthusiastic. Based on the analysis of government regulation, listed companies, and other aspects, the effect of green credit adoption on businesses' green innovation and empirical research is a popular research topic among scholars in this field. Studies have indicated that, among other things, green credit has a catalytic influence on corporate innovation. This paper synthesizes green credit's effect on business green innovation discussed in several papers. The results show that, firstly, the impact of green credit is divided into the direct way that affects the cost of financing and the indirect way that plays the role of intermediary, etc. Secondly, the impact is broken down into the volume, caliber, and continuity of businesses' use of green innovation; also, there are differences in the impacts of green credit on state-owned enterprises and non-state-owned enterprises, and in different locations, etc. The influence of green finance on green innovation in businesses are also different from each other. And the heterogeneity difference is most significant relative to heavily polluting enterprises and green enterprises. Overall, green credit exerts a more robust resistance and motivating impact on profoundly polluting initiatives and corporations.