Corporate Carbon Information Disclosure and Financing Costs: The Moderating Effect of Sustainable Development

With the Global Reporting Initiative (a provider of global best practice for impact reporting) systematically helping parties to understand and exchange issues such as climate change formulating authoritative sustainability reporting guidelines, corporate sustainable development is becoming more critical companies. Moreover, carbon information disclosure has potential promote financing after Green Climate Fund been playing their part in finance. Previous studies focused on cost equity. Considering volatility capital market, equity unstable complex. This study limited debt, took Chinese listed companies from 2009 2021 a research sample, explored relationship between disclosure, development, costs. adopted fixed-effects (within) regression or random-effects GLS (defined through Breusch Pagan Lagrange multiplier test random effects Hausman test) estimation methods control individual endogenous problems brought by time. At same time, model was modified when there heteroscedasticity autocorrelation accordingly. The results show that lower cost; weakens inhibitory effect affirms value reducing asymmetry, found (internal growth capacity) may increase debt. stronger is, needs be, thus raising not only implies creditors attach importance at time borrowing, but also provides theoretical evidence government securities regulators speed up mandatory disclosure.