Abstract: Faced with the double constraints of resources and environment, the effective integration of internal governance and external regulation, is directly related to the enthusiasm of enterprise green technology innovation. Based on the theory of institutional regulation and technological innovation, with the 45 listed companies of the heavy polluting industry in A-share market of Shanghai and Shenzhen from 2009-2014 as samples, this paper examines the mechanism of the board governance in the impact of environmental regulation on enterprise green technology innovation. The study shows that the environmental regulation itself has no significant effect on enterprise green technology innovation. The board governance has a significant positive impact on enterprise green technology innovation, and the board governance has a significant positive effect on the environmental regulation impact of enterprise green technology innovation. The conclusion of the research shows that the implementation of the external environmental policy and the improvement of the board governance level is of great significance to promote the green technology innovation, to improve the efficiency and to reduce the pollution, in the face of the objective reality that the environmental carrying capacity of our country has reached or approached the upper limit.