Based on the impression management theory, this paper captures the divergence between the environmental information disclosed by enterprises and their actual environmental protection actions, defines it as “environmental disclosure greenwashing”, and explores the relationship between it and corporate value. The study finds that “environmental disclosure greenwashing” has a direct adverse impact on corporate value; the results of more in-depth analysis show that “environmental disclosure greenwashing” will further exacerbate the value effect of environmental information. Market trust is the intermediary mechanism for “environmental disclosure greenwashing” to reduce the corporate value. The research on the governance effect of “environmental disclosure greenwashing” finds that the quality of internal control can be improved to enhance the transparency and compliance of decision-making and prevent information distortion. Optimizing the market environment to enhance market surveillance and promote transparency and quality of environmental disclosures; Institutional investors, with their investment analysis and risk management capabilities, can effectively restrain corporate behavior. As a channel for disseminating information, the media can expose corporate environmental violations and promote compliance with environmental regulations.