Taking A-share listed enterprises with heavy pollution from 2017 to 2019 as a research sample, an investigation and analysis have been made of the impact of corporate environmental information disclosure on corporate debt financing cost under different ownership and regions. It is found that, on the whole, the quality of environmental information disclosure can reduce the cost of corporate debt financing; the quality of environmental information disclosure of both state-owned and non-state-owned enterprises under different ownership can reduce the cost of corporate debt financing, while the quality of environmental information disclosure of state-owned enterprises can better reduce the cost of corporate debt financing; in different regions, only the environmental information disclosure of enterprises in the western region can effectively reduce the cost of debt financing, meanwhile there is no significant negative impact of environmental information disclosure of enterprises in the eastern and central regions on the cost of debt financing.