<p>Promoting the deep integration of the green economy and the digital economy is an important way to achieve sustainable economic development. Based on the sample data of China’s A-share listed companies from 2011 to 2022 and the quasi-natural experiment built by the data trading platform, this study uses the multi-stage difference-in-differences model to empirically test the impact of data elements marketization on the greenwashing behavior of corporations. The results show that the marketization of data elements significantly inhibits the greenwashing behavior of corporations. The mechanism test shows that the inhibitory effect of data elements marketization on corporate greenwashing behavior is mainly realized through the information effect and the green finance effect. The heterogeneity test shows that the marketization degree of data elements has a more significant inhibitory effect on the greenwashing behavior of heavy polluting corporations, high-tech corporations, and corporations with a high degree of digital transformation. The higher the degree of regional marketization is, the lower the intensity of environmental regulation is, and the more effectively the marketization degree of data elements can inhibit the greenwashing behavior of corporations. The research conclusion not only clarifies the institutional efficiency of data element marketization in the field of environmental governance, but also provides decision-making reference with theoretical depth and practical value for government departments to optimize the data element allocation mechanism and improve the environmental governance policy system.</p>