Green credit policy and corporate low-carbon transition: evidence from a quasi-natural experiment

This paper empirically examines the impact of green credit policy (GCP) on the corporate low-carbon transition (LCT) by using difference-in-differences models based on the panel data of A-share listed companies in the period of 2010–2021. The study finds that the GCP not only significantly and directly promotes corporate LCT, but also facilitates it by fostering green innovation and alleviating financing constraints. GCP have exerted a more pronounced positive impact on the LCT of enterprises located in regions with low fiscal pressure, enterprises in regions with high environmental enforcement, SOEs, and private enterprises.