The Impact of Green Finance on the ESG Performance of Marine-Related Enterprises
As an important governance subject of marine ecological environment,the ESG performance of marine-related enterprises is an important standard to measure their sustainable development,which coincides with the concept of high-quality development of marine economy.In the process of"dual carbon",as a mar-ket-based environmental regulation tool to promote the transformation of economic structure,giving play to the role of green finance in the green transformation of marine-related enterprises has both theoretical value and practical significance.Taking the A-share listed companies involved in the sea from 2009 to 2020 as the re-search object,this paper explores the impact of green finance on the ESG performance of marine-related enter-prises.The research finds that green finance significantly improves the ESG performance of marine-related en-terprises.Mechanism analysis shows that the improvement of ESG performance of marine-related enterprises by green finance is mainly due to its financing effect and the back-forcing effect of"end-management",but it does not force marine-related enterprises to improve ESG performance through green technology innovation and the realization of"front-end prevention".Further research shows that the promotion effect of green finance on the ESG performance of marine-related enterprises requires a certain basic financial environment,and the pro-motion effect is more obvious in state-owned marine-related enterprises,marine-related enterprises with low a-gency costs and marine-related enterprises with low attention allocation for green transformation.Therefore,green finance should be used to promote the environmental responsibility of marine-related enterprises and ena-ble the high-quality development of marine economy through the improvement of accuracy and expansion of service scope of marine-related green finance.
green financeESGmarine-related enterprisesmarine economydouble machine learning
NETL
NSTL
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