Search

Research on the Impact of Green Technology Innovation on Corporate ESG Performance under the Concept of Green Development

Author(s)

Jing Zhou, Yue Zhao*

Affiliation(s)

Business School, Guilin University of Electronic Technology, Guilin, Guangxi, China *Corresponding Author

Abstract

With the concept of green development becoming increasingly deeply entrenched, Corporate ESG performance has emerged as a statistically important criterion for evaluating the level of sustainable development of industries, and green technological innovation serves as a vital practical approach. Although existing literature has extensively explored research on how green technological innovation impacts the ESG performance of enterprises technological innovation on corporate ESG performance remains relatively scarce. This paper chooses listed companies spanning the period 2013-2023 as its research samples, with the focus placed on analyzing the impact of green technological innovation on corporate ESG performance by constructing a regression model. It is shown by the research results that green technological innovation demonstrates a statistically significant impact on corporate ESG performance, and this promoting effect becomes more pronounced with the increase in investment in green technological innovation. Therefore, the study of the relationship between the two is conducive to providing theoretical support and practical guidance for the green development of enterprises, and also offers decision-making references for governments and social organizations to promote research and development of environmentally friendly technologies.

Keywords

Green Development; Green Technological Innovation; Corporate ESG Performance; Sustainable Development; Awareness of Environmental Responsibility

References

[1] Li, X. R., & Xu, T. C. (2022). Research progress on environmental-social-governance (ESG). Economic Perspectives, (08), 133-146. [2] Chen, X. S., & Liu, H. D. (2023). Institutional investor shareholding and corporate ESG performance. Finance Forum, 28(09), 58-68. [3] Li, W. Q., & Pang, W. B. (2023). The impact of digital inclusive finance on corporate ESG performance: Based on the perspective of corporate green technology innovation. Journal of Cleaner Production, 30(24), 65314-65327. [4] Kim, M., Yu, H., & Kim, T. (2025). The contingent effects of foreign ownership on ESG performance under financial performance feedback. Finance Research Letters, 25(12), 107156. [5] Liang, Q. Z., Jia, M., & Zhan, Y. X. (2022). Does female director participation promote corporate social responsibility performance? The contextual role of gender equality awareness and family firms. R&D Management, 34(1), 120-132. [6] Liu, Y. Y. (2025). The impact of Social Security Fund shareholding on corporate ESG performance: Evidence from China. Applied Economics Letters, 32(13), 1956-1960. [7] Chen, Y. Y., Jiang E J., & Mo P L .L. (2025). Does a founder’s cultural imprint affect corporate ESG performance? Research in International Business and Finance, 76, 102800. [8] Wu, X. B., & Yang, F. M. (1996). Innovation and diffusion of green technology. Science Research Management, (01), 38-41. [9] Qiao, W., & Feng, Q. G. (2011). Analysis of enterprise cost and benefit from the low-carbon perspective. Modern Management Science, (08), 14-16. [10] Zhang, C. Y., Wang, Z. H., Tang. Y. Q., & Yang, F. (2025). ESG performance, green technology innovation, and corporate value: Evidence from industrial listed companies. Alexandria Engineering Journal, 123, 369-380. [11] Sun, J. H., Hou, S., Deng Y. X., & Li H. C. (2024). New media environment, green technological innovation and corporate productivity: Evidence from listed companies in China. Energy Economics, 131, 107395. [12] Yang, G. Z., & Xi, Y. T. (2019). An empirical study on the financing constraints of enterprises’ green technology innovation activities. Journal of Industrial Technological Economics, (11), 70-76. [13] Wei, R. W. (2023). The impact of corporate environmental responsibility on corporate performance: Taking green technology innovation as a mediating variable. China-Arab States Science and Technology Forum (Chinese & English), (06), 71-75. [14] Zhu, H. Q., & Li, X. F. (2025). Can green finance improve corporate ESG performance? Empirical evidence from Chinese A-share listed companies. Asia-Pacific Journal of Accounting & Economics, 32(4), 590-607. [15] Ning, J. H. (2022). Does public environmental appeal promote enterprise innovation? Modern Economic Research, 20(04), 75-83. [16] Huang, D. Y., Xie, H. B., & Zou, M. T. (2023). Environmental regulation and corporate ESG performance under the "Dual Carbon" goal: An empirical study based on macro and micro dual mechanisms. Journal of Shanxi University of Finance and Economics, (10), 69-83. [17] Li, T. F., Li, G., Zeng, S. H., & Hao, Y. (2025). Towards a low-carbon economy: How can green technological innovation affect carbon productivity in China? Journal of Environmental Management, 392, 126685. [18] Liu, X., & Xu, Y. G. (2023). The impact of low-carbon city pilot policy on corporate ESG performance: An empirical test based on the multi-period difference-in-differences method. Finance & Economy, (04), 38-50. [19] Xu, D. D. (2025). Industrial agglomeration, carbon information disclosure and corporate ESG performance. Communication of Finance and Accounting, (17), 74-79. [20] Wang, X., & Wang, Y. (2021). Does green credit policy promote green innovation? Management World, 37(06), 173-188+11.