Subject. The relationship between the level of ESG efficiency and environmental technological innovations of manufacturing enterprises in the context of integrated economic, environmental and social development. Objectives. Empirical analysis of the impact of the introduction of ESG principles on the development of green technologies and the achievement of environmentally friendly and low-carbon growth in the manufacturing industry. Methods. The empirical base of the study is based on data from Chinese publicly traded manufacturing companies listed on the A-share market for 2010– 2022. Econometric methods of analysis were used, as well as stability tests using alternative indicators. Results. It has been established that there is a stable positive relationship between ESG indicators and the level of development of environmental technological innovations. Additional analysis revealed two key mechanisms of the ESG impact: reducing information asymmetry and increasing government subsidies. Conclusions. It is advisable to improve the ESG information disclosure system and stimulate the improvement of the ESG efficiency of manufacturing enterprises as an important condition for accelerating environmental technological progress.
Keywords: environmental technological innovations, information asymmetry, government subsidies
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