Environmental information disclosure is an important source of information for banks to assess the environmental risk of an enterprise or project. Taking the listed companies of environmentally sensitive industry from 2011 to 2016 as the research object, this paper uses the fixed-effect model to empirically analyze the impact of environmental information disclosure quality on the corporate debt financing costs. The results show that the quality of corporate environmental information disclosure has no significant effect on reduction of the debt financing cost. By dividing environmental information into monetary and non-monetary information, it is found that the quality of monetary environment information disclosure has a significant impact on reducing debt financing cost. A concern in the future is how to improve the role of non-monetary environmental information.