Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/296813 
Year of Publication: 
2023
Series/Report no.: 
ADBI Working Paper No. 1421
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
This study investigates the impact of firms' emissions on their investments in renewable energy. Stricter environmental regulations are aimed at incentivizing firms to invest in low-emission/pollution technologies such as renewable energy. Recently, the People's Republic of China (PRC) announced a large number of environmental regulations in order to address emission and air pollution issues. Using the unique data set of annual firm-level data of 147 firms from the PRC that invested in renewable energy projects domestically during the period 2015-2020, our results demonstrate that firms with greater air pollution or greenhouse gas emissions (measured as a share of revenue) invest more in renewable energy (measured as a share of equity). The results have survived several robustness checks.
Subjects: 
renewable energy
air pollution
People's Republic of China
GHG emissions
green investment
COVID-19
JEL: 
Q53
Q58
Q42
G32
G38
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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