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Role of green finance and carbon accounting in achieving sustainability

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  • Juan Wu

    (Kaifeng University)

Abstract

This study delves into the influence of carbon accounting and green finance on the sustainable development index within a dataset of 500 Chinese publicly listed companies over the period from 2010 to 2020. Leveraging analysis conducted through the fully modified OLS methodology, the research findings unveil that the adoption of carbon accounting positively impacts the sustainable development index among these Chinese-listed firms. However, the number of employees engaged in these companies exhibits an adverse effect on the sustainable development index, and the consumption of resources, including water and electricity, demonstrates an inverse relationship with the overall sustainability of the firms. In light of these findings, the research suggests several central policies to bolster sustainable development. These include expanding green finance markets by harnessing financial technology (fintech) and big data, advancing corporate sustainability management, investing in green energy projects, and establishing an efficient green taxation system.

Suggested Citation

  • Juan Wu, 2024. "Role of green finance and carbon accounting in achieving sustainability," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-7, December.
    • Handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-023-02492-2
    DOI: 10.1057/s41599-023-02492-2
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    References listed on IDEAS

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