Abstract: Carbon peaking and carbon neutrality have become key drivers propelling China's enterprises toward green transformation and development. As a vital policy tool for achieving these goals, the new energy model city initiative serves as a significant means to accelerate corporate green technological innovation. Using data from 283 prefecture-level cities and China's A-share listed companies between 2007 and 2021, this study employs a difference-in-differences model to examine the impact mechanism of the new energy model city policy on corporate green technological innovation. Findings reveal that this policy significantly promotes green technological innovation among enterprises. The effect is particularly pronounced for state-owned enterprises, heavily polluting enterprises, and companies located in economically developed regions and areas with high levels of openness. The study further identifies environmental regulations, corporate ESG performance, and financing constraints as the primary mechanisms through which these policies drive innovation. Consequently, future efforts should focus on amplifying the policy's impact by actively disseminating successful practices, expanding the pilot city network, and implementing differentiated policies.

Key words: new-energy model city policy, green development, green technology innovation, environmental regulation, energy transition, transition to a green and low-carbon economy