Does financing strategy accelerate corporate energy transition? Evidence from green bonds
研究绿色债券发行对企业碳排放和环境绩效的影响，发现其能显著提升整体环境表现和技术创新能力，但对碳排放强度的改善需要一年以上时间。
Abstract With energy transition becoming an urgent priority for companies worldwide, practitioners and policymakers are urging them to finance climate‐friendly projects. This paper investigates how the issuance of green bonds affects firms' carbon emissions and environmental performance. Our results show that green bond issuance significantly improves firms' overall environmental performance and their capacities to create new environmental technologies and processes. However, green bond issuance has a less clear effect on carbon emissions intensity and requires additional time (one or more years) before being able to improve the emissions intensity. Taken together, our study's findings clearly highlight the importance of green bonds in financing energy transition in the corporate sector and provide evidence to encourage policymakers to strengthen the legal framework relating to their issuance.