【摘要】 随着全球气候变化和环境问题的日益严峻，企业的环境、社会和治理(ESG)表现成为推动能源技术创新的重要因素。研究基于2010年至2023年间中国A股重污染行业上市公司的面板数据，探讨了ESG评分对能源技术创新偏好的影响及其作用机制。研究发现，ESG评分的提高对清洁能源和化石能源的绿色技术创新均具有显著的促进作用，但对清洁能源创新的影响更为突出。这一作用主要通过降低企业的融资约束、提升环境信息披露水平和增加研发投入来实现。异质性分析表明，对于高竞争行业和低环保处罚强度地区的企业而言，ESG评分对于能源技术创新的影响更为显著。特别地，在细分清洁能源技术类型后发现，ESG评分对氢能技术创新的促进作用尤为显著。研究基于能源技术创新偏好视角探究了ESG驱动绿色技术变革的理论机制，为能源转型与可持续发展提供经验支持。更多还原

【Abstract】 With the increasing severity of global climate change and environmental issues, the Environmental, Social, and Governance(ESG) performance of firms has become a crucial factor in driving energy technology innovation. Based on panel data of Chinese A-share listed firms in high-polluting industries from 2010 to 2023, this study explores the impact of ESG scores on energy technology innovation preferences and its underlying mechanisms. The study finds that an increase in ESG scores significantly promotes green technology innovation in both clean energy and fossil fuels, with a more pronounced impact on clean energy innovation. This effect is primarily achieved by reducing corporate financing constraints, enhancing the level of environmental information disclosure, and increasing research and development investment. Heterogeneity analysis indicates that the impact of ESG scores on energy technology innovation is more significant for firms in highly competitive industries and regions with less stringent environmental penalties. Notably, after subdividing clean energy technology types, it is found that ESG scores have a particularly significant promoting effect on hydrogen energy technology innovation. From the perspective of energy technology innovation preferences, this study probes the theoretical mechanisms by which ESG drives green technology transformation, providing empirical support for energy transition and sustainable development.更多还原