["Corporate Social Responsibility and Environmental Management, EarlyView. ", "\nABSTRACT\nCorporate social responsibility (CSR) is widely recognized for its role in advancing sustainability within emerging economies like China. However, the specific mechanisms and contextual factors that shape the impact of internal CSR (ICSR) and external CSR (ECSR) on firms' environmental performance (EP) remain insufficiently understood. This study addresses this gap by leveraging stakeholder theory to explore the distinct effects of ICSR and ECSR on EP, while examining how these relationships are moderated by industry competition and media scrutiny. Using a comprehensive dataset of 815 Chinese firms spanning 2008 to 2020, we reveal that both ICSR and ECSR positively enhance EP, with ECSR exerting a comparatively stronger influence. Furthermore, our findings show that industry competition attenuates the positive effects of ICSR and ECSR, whereas media scrutiny amplifies them. These insights contribute to the environmental management and business strategy literature by clarifying how and when diverse CSR approaches drive firms' environmental outcomes, offering practical implications for organizations navigating competitive and media‐intensive landscapes.\n"]