电商平台绿色供应链金融模式创新与企业ESG绩效提升研究

Research on the Innovation of Green Supply Chain Finance Models on E-Commerce Platforms and the Improvement of Corporate ESG Performance

摘要: 在“双碳”目标与数字经济快速发展的背景下，绿色供应链金融逐渐成为推动电商平台可持续发展的重要抓手。本文聚焦电商平台，尝试厘清绿色供应链金融模式创新的内在逻辑，并分析其对企业ESG绩效的作用路径。结果发现：第一，电商平台凭借数据资源方面的优势，形成了“数据信用三元转换”的绿色供应链金融运行框架，实践中主要表现为绿色信贷优惠、供应链碳评级、区块链溯源以及绿色ABS融资四种类型。第二，绿色供应链金融能够通过缓解企业融资约束、推动绿色技术创新、改善信息透明度三条中介路径来提升企业ESG绩效，已有实证研究也表明，供应链金融对企业财务绩效和ESG表现均有显著的促进作用。第三，京东“京碳惠”、阿里巴巴绿色采购贷、兴业银行“碳金融 + 绿色供应链”等头部案例表明，“金融激励–技术渗透–制度协同”的三维协同模式，有助于打破电商行业在“融资”与“治理”上面临的双重碳锁定。最后，文章建议加快建立统一的绿色供应链金融标准体系，强化数字技术对碳数据的穿透式管理，实行差异化政策支持与分层监管，推动电商平台从“被动合规”走向“价值共创”。

Abstract: Driven by the dual goals of “double carbon” and the rapid development of the digital economy, green supply chain finance has gradually become an important tool for promoting the sustainable development of e-commerce platforms. This paper focuses on e-commerce platforms, attempting to clarify the internal logic of green supply chain finance model innovation and analyze its impact on corporate ESG performance. The findings are as follows: First, leveraging their data resource advantages, e-commerce platforms have established an operational framework for green supply chain finance based on a “data-credit triple conversion”, which in practice mainly takes four forms: green credit preferences, supply chain carbon ratings, blockchain traceability, and green ABS financing. Second, green supply chain finance can enhance corporate ESG performance through three mediating pathways: easing financing constraints, promoting green technology innovation, and improving information transparency. Existing empirical studies also show that supply chain finance significantly promotes both corporate financial performance and ESG performance. Third, leading cases such as JD.com’s “Jing Carbon Benefit”, Alibaba’s Green Procurement Loan, and China Industrial Bank’s “carbon finance + green supply chain” model demonstrate that the triple synergy model of “financial incentives - technology penetration - institutional synergy” helps break the double carbon lock-in faced by the e-commerce industry in terms of “financing” and “governance”. Finally, the paper suggests accelerating the establishment of a unified standard system for green supply chain finance, strengthening digital technology’s ability to enable penetrative management of carbon data, implementing differentiated policy support and tiered supervision, and promoting the transformation of e-commerce platforms from “passive compliance” to “value co-creation”.