@article{CHEN2025, 
author = {Yanyu CHEN and Xiangyu ZHU and Mengwan ZHANG and Xichen LIN},
title = {Analysis of the impact of green financial policies on carbon reduction in high-carbon enterprises},
year = {2025},
journal = {Journal of Economics of Water Resources},
volume = {43},
number = {6},
pages = {38-44},
keywords = {green finance policy, low-carbon transition, high-carbon enterprise, water consumption heterogeneity, difference-in-differences model},
url = {https://www.sciopen.com/article/10.3880/j.issn.1003-9511.2025.06.005},
doi = {10.3880/j.issn.1003-9511.2025.06.005},
abstract = {Based on panel data from China's A-share listed companies from 2012 to 2023, this paper employs a difference-in-differences model to empirically examine the impact of green finance policies on the low-carbon transition of high-carbon enterprises, with a specific analysis of the heterogeneity between high water-consuming enterprises and general water-consuming enterprises. The findings indicate that green finance promotes the low-carbon transition of high-carbon enterprises. Furthermore, due to the water-energy nexus, high water-consuming enterprises exhibit greater sensitivity to the low-carbon transition effects of green finance policies. Robustness tests confirm the reliability of the policy effects, underscoring the pivotal role of green finance policies in advancing the transition towards a low-carbon economy.}
}