Research on Certification of Zero-Carbon Plant Based on Accounting Statement Information

Although financial statements are increasingly recognised as containing rich economic and governance information, the existing research on zero-carbon factory certification has primarily focused on external policy instruments, technological pathways, and governance mechanisms, while generally overlooking the role of internal corporate financial information systems in carbon emissions measurement and certification. To address this research gap, this study examines the validity, representational capacity, and underlying mechanisms of financial-statement-based carbon emission intensity as a proxy for actual corporate carbon emissions, using Shanghai and Shenzhen A-share listed companies from 2010 to 2022 as the sample. Findings reveal a significant positive correlation between the two, with this relationship positively moderated by the sustainability of corporate innovation outputs and market competitive position. This effect operates through optimising resource allocation efficiency and strengthening financing constraints. Heterogeneity analysis indicates that explicit environmental signals and engagement levels enhance this representational effect, whereas high green technology levels inhibit it. Furthermore, using the steel industry as a case study, this paper constructs a four-dimensional, nine-indicator zero-carbon factory evaluation system. Employing Entropy-VIKOR model to certify 37 A-share listed steel enterprises in 2022. Carbon emission intensity was identified as the core metric, with C6 and C15 serving as zero-carbon benchmarks. Evaluation results demonstrated high alignment with official certifications, providing empirical evidence and policy implications for assessing carbon emissions through financial information and establishing zero-carbon factory certification standards.