Abstract Based on the triple bottom line theory and the panel data of Shanghai and Shenzhen A-share listed enterprises from 2013 to 2022, this paper explores the impact and mechanism of carbon finance development on corporate green governance on the basis of the construction of carbon finance development evaluation index system. The Study has found that the development of carbon finance can significantly promote corporate green governance. Mechanism testing found that the development of carbon finance can guide enterprises to adhere to the triple bottom line of “ environment-society-economy ”, thereby effectively promoting corporate green governance. In terms of the environmental bottom line, the development of carbon finance can promote the green governance of enterprises by improving their green innovation output and reducing pollution emission intensity. In terms of the social bottom line, the development of carbon finance promotes corporate green governance by improving corporate environmental responsibility. In terms of the economic bottom line, the development of carbon finance promotes corporate green governance by improving corporate green total factor productivity. An expanded analysis shows that in areas with high public awareness of environmental protection, areas with high level of marketization, areas with high digital technology development, state-owned enterprises and heavily polluting enterprises, the development of carbon finance has a more obvious role in promoting corporate green governance. The conclusion expands the research on the development of carbon finance and green governance, and are great significance for the country to further implement the low-carbon economic development strategy.
ZHANG Rao,GUO Xiaoxu. A Study on the Impact of Carbon Finance Development on Enterprise Green Governance: An Analysis Based on the Triple Bottom Line Theory. Economic Survey, 2024, 41(5): 028.
2024, Vol. 41 
