An Empirical Research On The Correlation Between Carbon Information Disclosure And The Financing Constraints

In recent years，climate issues have become the focus of the people andgovernment concern in all countries， leading to global warminggreenhouse gas emissions a more concerned about problem to our society.In the context of low-carbon world， countries have issued the relevantpolicies to guide the listing corporation concerned carbon information，and urge enterprises to disclose carbon information. As an important factorin the enterprise environment information disclosure, carbon performancecaused the enterprise top management attention, has also aroused extensiveattention included government agencies， news media， investors，consumers and other.Most of the domestic researches are stay in the descriptive analysis ofthe Carbon Disclosure Carbon Disclosure or research the relevance withenterprise value. Therefore， this paper based on that the CarbonDisclosure can improve the performance of socially responsible business，the company’s reputation， better relationships with banks and regulators，enabling the company to reduce financing constraints. In this paper， theCarbon Disclosure Index manual included analysis of carbon disclosurecould reduce financing constraints， and the conclusion grouping sampleswas verified. The results show that: the Carbon Disclosure of corporate informationthan the non-disclosure of corporate finance carbon constraint is low， andthe higher the level of carbon disclosure，the greater the effect of reducingthe corporate finance constraints. This fully demonstrates the CarbonDisclosure reduce the company’s financing constraints， to provide aconvenient financing. Therefore， the carbon disclosure to some extent toimprove the company’s information environment， improve corporatesocial responsibility performance， easier access to external financing orrefinancing. Conclusions of this study to improve the mechanism of carbondisclosure made suggestions， we want to follow the Carbon Disclosurerelated research and provide helpful reference.