Data-Driven Sustainability: National Big Data Comprehensive Pilot Zone Policy and Corporate Carbon Emissions

China’s dual-carbon goals require firms to pursue low-carbon transformation, while digital infrastructure offers new opportunities for corporate emission reduction. Using data from Chinese A-share listed firms from 2010 to 2024, this study treats the establishment of National Big Data Comprehensive Pilot Zones (NBDCPZ) as a quasi-natural experiment and applies a multi-period difference-in-differences model. The results indicate a statistically significant negative relationship between policy and estimated corporate carbon emissions. This result remains robust to parallel-trend tests, propensity-score-matching difference-in-differences (PSM-DID) estimation, and lagging control variables by one period. Mechanism tests suggest that the policy is negatively associated with estimated corporate carbon emissions through pathways consistent with green innovation, digital transformation, and easing financing constraints. Heterogeneity analysis indicates stronger effects among firms in highly competitive industries, non-heavy-polluting sectors, and southern China. Moreover, the pilot policy enhances corporate Environmental, Social, and Governance (ESG) performance. Overall, this study provides evidence that big-data-related policies can facilitate corporate decarbonization and offers policy implications for carbon reduction through data sharing, openness, and governance.

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Publication Details

Journal
Sustainability
Published
2026-09-10
DOI
https://doi.org/10.3390/su18189325
Primary Topic
Energy, Environment, Economic Growth
Type
article
Field-Weighted Citation Impact
0.00
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Data-Driven Sustainability: National Big Data Comprehensive Pilot Zone Policy and Corporate Carbon Emissions

Lei Wang, Haoran Cao
Sustainability
Energy, Environment, Economic Growth
article

Data-Driven Sustainability: National Big Data Comprehensive Pilot Zone Policy and Corporate Carbon Emissions

Lei Wang, Haoran Cao
article en

Abstract

China’s dual-carbon goals require firms to pursue low-carbon transformation, while digital infrastructure offers new opportunities for corporate emission reduction. Using data from Chinese A-share listed firms from 2010 to 2024, this study treats the establishment of National Big Data Comprehensive Pilot Zones (NBDCPZ) as a quasi-natural experiment and applies a multi-period difference-in-differences model. The results indicate a statistically significant negative relationship between policy and estimated corporate carbon emissions. This result remains robust to parallel-trend tests, propensity-score-matching difference-in-differences (PSM-DID) estimation, and lagging control variables by one period. Mechanism tests suggest that the policy is negatively associated with estimated corporate carbon emissions through pathways consistent with green innovation, digital transformation, and easing financing constraints. Heterogeneity analysis indicates stronger effects among firms in highly competitive industries, non-heavy-polluting sectors, and southern China. Moreover, the pilot policy enhances corporate Environmental, Social, and Governance (ESG) performance. Overall, this study provides evidence that big-data-related policies can facilitate corporate decarbonization and offers policy implications for carbon reduction through data sharing, openness, and governance.

SustainabilityVol. 18(18)
Shandong Normal University (CN)
Industry, innovation and infrastructure
Openalex Percentile: Top 5%
Energy, Environment, Economic Growth
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