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ORIGINAL RESEARCH
Digital Transformation, Green Investment,
and Green Transformation:
The Moderating Effects of Industrial Policy
1
School of Economics and Management, Jiangsu University of Science and Technology, Zhenjiang 212100, China
2
School of Foreign Languages, Jiangsu University of Science and Technology, Zhenjiang 212100, China
Submission date: 2024-06-13
Final revision date: 2024-08-04
Acceptance date: 2024-08-23
Online publication date: 2024-11-21
Publication date: 2025-11-04
Corresponding author
Shuangliang Yao
School of Foreign Languages, Jiangsu University of Science and Technology, Zhenjiang 212100, China
School of Foreign Languages, Jiangsu University of Science and Technology, Zhenjiang 212100, China
Pol. J. Environ. Stud. 2025;34(6):6927-6942
KEYWORDS
TOPICS
ABSTRACT
In the context of increasingly severe global environmental issues, the manufacturing industry,
as a vital pillar of the national economy, faces an urgent challenge. This challenge is how to achieve
the integrated development of digital transformation and green transformation in order to actively
respond to the major strategic demands of the "dual carbon goals" and green transformation. This
research focuses on the core question of "how digital transformation promotes green transformation
in the manufacturing industry." By utilizing data from A-share manufacturing listed companies from
2013 to 2022, the study deeply analyzes the dynamic relationship among digital transformation, green
investment, green transformation, and industrial policy, while employing fixed-effects models and
statistical analysis methods. The findings reveal that digital transformation has a significant driving
effect on green transformation in the manufacturing industry. However, green investment exhibits a
'suppression effect' in this process, meaning that the current insufficient scale and unreasonable structure
of green investment have led to negative effects. Furthermore, industrial policy plays an important
regulatory role in the integrated development of digital transformation and green transformation. This
research not only unveils the impact path of digital transformation driving green transformation but
also deconstructs the mechanism of "dual transformation," providing theoretical and empirical support
for the integrated development of digital transformation and green transformation in the manufacturing
industry.
CONFLICT OF INTEREST
The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
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