Can new-type urbanization construction policy mitigate energy consumption intensity? Evidence from Chinese listed enterprises

China’s new-type urbanization construction (NTUC) policy is a critical approach for fostering high-quality development, peaking carbon emissions, and attaining carbon neutrality. While the existing literature has yielded extensive insights into the economic and environmental impacts of urbanization transformation, scant research has explored the influence of NTUC on energy consumption intensity (ECI) and its mechanisms from an exogenous impact standpoint. This study utilizes data from Chinese listed enterprises across different regions from 2011 to 2020 to empirically assess the influence of NTUC on ECI. We found that NTUC substantially lowers enterprise ECI through technological innovation. Digital finance and public environmental awareness enhance the NTUC’s efficacy in reducing enterprise ECI. Additionally, the impact of NTUC on enterprise ECI is particularly pronounced among state-owned enterprises and in areas with limited resource endowments. This research provides evidence underscoring the NTUC’s influence on the ECI of listed enterprises and suggests enhancements for refining the design of NTUC initiatives.