Based on disclosed environmental data from A-share listed companies between 2014 and 2021,matched with city-level Air Quality Index(AQI),this study investi-gates the impact of corporate environmental investments on urban air quality.The research reveals that,when considering factors such as average temperature,average wind speed,precipitation,and other climatic elements,corporate environmental invest-ments can unlock an"environmental dividend",effectively com-bating pollution,reducing haze,and lowering carbon emissions,leading to a significant improvement in the proportion of days with good air quality in cities.The enhancement of air quality re-sulting from corporate environmental investments is primarily a-chieved through the prevention of pollution at the source rather than the effects of end-of-pipe pollution control.The positive effects of corporate environmental investments on air quality are more pronounced for state-owned enterprises,companies with a higher proportion of directors with environmental backgrounds,manufacturing industries,and regions with stronger environmen-tal regulations.Further analysis indicates that corporate environ-mental investments can achieve a mutually beneficial synergy of economic and environmental dividends,achieving an organic u-nity of corporate and social values.The research conclusions provide valuable insights for comprehensive pollution reduction and carbon reduction planning,offering decision-making refer-ences for effectively combating urban pollution.
air qualitycorporate environmental in-vestmentsFront-end PreventionEnd-of-pipe Controlpollution reduction and carbon reduction
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NSTL
万方数据
