Based on the data of China’s A-share listed companies from 1999 to 2022, we discuss the impact of CE entrepreneurs on corporate green innovation. The results of the mechanism analysis show that the CE entrepreneurs reduce entrepreneurs’ investment in corporate green innovation through the two aspects of the proliferation of negative corporate reports and the exacerbation of financing constraints. To explore the distinction between the characteristics of the CE entrepreneurs and their corporations, we find that when the CE entrepreneurs only control one firm, the inhibiting effect on green innovation is more obvious after obtaining the CE identity. The economic consequence test finds that the CE enterprises reduce their investment in green innovation, which is “long and slow”. At the same time, they shift to charitable donations and advertising campaigns, which can quickly improve their reputation.