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The stabilization of growth and preservation of employment are the primary objectives of the current new economic normal. Investigating whether the low-carbon transition can be an opportunity or a shock for employment expansion in green development requires thorough examination. This study utilizes multi-temporal difference-in-difference (DID) models, analyzing comprehensive panel data from China (2007–2019) to assess the impact of the Low-carbon City Pilot (LCCP) policy on employment at meso-regional and micro-firm levels. Empirical findings robustly reveal that LCCP significantly boosts employment, with average treatment effects of approximately 0.548% and 5.892% at regional and firm scales, respectively. Positive impacts vary based on ownership, location, industry type, and energy consumption within enterprises. Notably, state-owned enterprises, those in the eastern region, engaged in secondary industries, and with high energy consumption experience pronounced positive effects. Mechanism analysis further reveals that LCCP boosts employment via promoting government environmental subsidies and expanding enterprise investment scale to create more jobs. These findings provide policy recommendations for further promoting low-carbon transition and expanding employment to achieve the win-win goal of sustainable development. • Low Carbon City Pilot Policies (LCCP) can promote employment both at the regional and firm level. • The role of LCCP is achieved via two channels. • The facilitation effect of LCCP varies across cities, firms and industries. [ABSTRACT FROM AUTHOR]

Improving corporate green technology innovation is a key link in achieving green transformation and development. Compared with formal environmental regulations that force companies to carry out green innovation passively, ESG ratings under soft environmental regulations can better stimulate the internal motivation of companies. This study uses the ESG ratings of listed companies published for the first time by SynTao Green Finance as an exogenous impact. Taking China's A-share listed companies from 2011 to 2022 as a research sample, the multi-period differences-in-differences model was used to empirically test the impact of ESG rating soft supervision on corporate green technology innovation. The results show that the impact of ESG rating events as a soft market regulation has a significant positive impact on the improvement of corporate green technology innovation. This conclusion still holds after a series of robustness tests. Meanwhile, enterprise digital transformation plays a positive regulatory role. The heterogeneity test shows that the green technology innovation of state-owned enterprises is more affected by ESG ratings. Mechanism research has found that ESG rating events promote corporate green technology innovation by easing corporate financing constraints and reducing managerial myopia. Further research found that under the influence of the external environment, intensified market competition and increased attention from the capital market are also conducive to the improvement of corporate green technology innovation. This study strengthens the corporate ESG concept under the guidance of green development and provides empirical evidence for promoting corporate green transformation. • The difference-in-differences method is employed to verify the causal effect of ESG rating. • Incorporate digital transformation of enterprises, financing constraints, and managerial myopia into the research content. • Consider the impact of external market environment on research results. [ABSTRACT FROM AUTHOR]

The increasing volume of electronic waste (e-waste) poses significant challenges for efficient collection in China. Despite many measures were taken over the past two decades, the e-waste collection rate was still not high. To this end, the Chinese government issued a new policy, the collection target responsibility (CTR) policy. Under the CTR policy, however, it is essential for participants to know how to share the responsibility of collection and how much reasonable targets are set to ensure the efficiency of the collection models. Therefore, the purpose of this paper is to explore the determination of optimal collection targets and the corresponding performance from the perspective of responsibility sharing to support the successful implementation of the CTR. Firstly, the study focuses on participants including the government, manufacturers, and recyclers, and develops three CTR models, independent collection model, government cost-sharing model, and enterprise collaboration model. Secondly, collection target equations for each model are established by employing dynamic differential game analysis, and corresponding collection performances are derived. Thirdly, through practical case simulations, the evolution of collection performance is dynamically analyzed to determine reasonable collection targets for the three models, as 23.8%, 32.3%, and 34.4%, respectively. The findings highlight the effectiveness of CTR in improving e-waste collection targets and performance, with the highest levels attained when the collection responsibilities are shared by government cost-sharing and enterprise collaboration. This study provides theoretical support for setting reasonable collection targets under CTR, and assists decision-makers in developing targeted CTR implementation measures. • The CTR model frameworks involving the main participants are developed. • Three CTR models are constructed from the perspective of shared responsibility. • The collection target for each CTR model is analyzed and determined. • The performances of CTR models are analyzed and compared. • Differences in the CTR models from cost-sharing and enterprises collaboration are observed. [ABSTRACT FROM AUTHOR]

Traditional manufacturing industry is in the early stages of transition to low-carbon innovative production, and is in urgent need of a low-carbon innovation system to achieve the goal of carbon neutrality. In order to realize the effective supervision of enterprise carbon emissions, this paper constructs a tripartite evolutionary game model among the corporate, government and public from the perspective of dynamic subsidies and taxes. The main results are as follows. First, the increase in government subsidies to a certain extent will help encourage companies to choose low-carbon innovative production strategies, but more subsidies are not always better. Excessive subsidies will increase the cost of government regulation and reduce the probability of government regulation. Second, the tripartite evolutionary game system does not converge under the static subsidies and taxes mechanism. But the system could quickly converges to the stable condition under dynamic subsidies and taxes. The stable point is the situation of corporate low-carbon innovation, government regulation, and public supervision. Third, the public intervention and supervision can effectively prevent the phenomenon of government misconduct and enterprises over-emission production. And the influence of public reward and punishment is more effective for the government than for enterprises. • A tripartite evolutionary game of low-carbon innovation system among enterprises, government and the public. • Dynamic subsidy and tax mechanisms drive the model to converge to the ideal state. • Increased government subsidies will promote low-carbon innovation, but it isn't the more the better. • The same degree of public supervision is more effective for governments than for enterprises. [ABSTRACT FROM AUTHOR]

Green innovation (GI) is increasingly recognised as an effective strategy for tackling climate change, mitigating environmental issues, and promoting sustainable development. Using panel data of the Chinese listed firms from 2007 to 2019, this study adopts the difference-in-differences approach to assess the impact of the green finance policy (GFP) initiated by the Chinese government in 2012 on the green innovation performance of firms. The findings reveal that the GFP significantly boosts the green innovation performance of heavily polluting enterprises (HPEs). Notably, this effect is more pronounced in state-owned enterprises and firms with high dependence on external finance. Compared with penalty-based regulations, incentive-based and voluntary environmental regulations demonstrate more significant moderating effects on the relationship between the GFP and green innovation performance for HPEs. We also identify improved efficiency in the usage of green investments as a potential mechanism through which the GFP enhances the green innovation performance of HPEs. Further comparative analysis shows that green enterprises can achieve simultaneous improvement in both the quality and quantity of green innovation, whereas HPEs predominantly exhibit enhancements in innovation quantity. To maximise the GFP's positive effects, it is recommended to facilitate more targeted bank lending towards HPEs to support their structural transformation. Additionally, the coordinated deployment of diverse environmental policy instruments is advised to exploit their synergistic effects. • This paper confirms the positive relationship between Green Finance Policy (GFP) and the green innovation. • We develop a novel machine learning approach to enhance the accuracy of variable measurements. • Firms with different ownership structure and external finance reliance are impacted differently by the GFP. • Both incentive-based and voluntary environmental regulations have positive moderation effects. • GFP can improve the green innovation by enhancing the green investment efficiency. [ABSTRACT FROM AUTHOR]