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The carbon emission trading market (carbon market) is an important policy tool for China to achieve the goal of "carbon peak and carbon neutrality" through market mechanism. This paper uses panel data of 30 provinces in China from 2005 to 2019 to examine the emission reduction effect (ERE) of China's carbon market pilots using multi-period Difference-in-Differences (DID)method, and then analyzes the factors influencing ERE and the economic impact of carbon market. According to the Bacon decomposition and a series of robustness tests, the results reveal that China's carbon market pilots have significant ERE. Both the expansion of the carbon market scale and the improvement of market activity level can significantly boost the carbon market's ERE. Meanwhile, the establishment of carbon market has no negative impact on the economic growth. Therefore, we propose to accelerate the construction of the national carbon market, incorporating more industries in a systematic manner, expand the scale of the carbon market, steadily promote the innovation of carbon financial instruments, improve the activity of the carbon market, so as to promote the transformation of China's green and low-carbon economy and achieve the emission reduction target as scheduled. [ABSTRACT FROM AUTHOR]

Green port construction has a profound impact on China's international climate commitment to carbon neutrality by 2050. To examine the carbon emission reduction potential of 20 major ports in the Yangtze River Delta port cluster of China, this study takes the perspective of environmental efficiency and employs dynamic exogenous variable DEA in efficiency evaluation. The results show the increasing environmental efficiency of the ports in the Yangtze River Delta, rising from 0.5116 in 2013 to 0.7276 in 2019. Also, there are significant spatial differences in efficiency. After considering exogenous variable, the average efficiency has increased from 0.5537 to 0.6276, indicating that regional green development is a critical factor in port environmental efficiency evaluation. Finally, the overall efficiency of input and output have risen, the slackness of carbon emission shows a trend of decreasing, and there is great potential for reducing carbon emissions from the perspective of port environmental efficiency. The previous studies paid less attention to dynamic efficiency, exogenous variables, and carbon emission. Therefore, this paper is the first comprehensive examination on the carbon emission reduction potential of China's Yangtze River Delta port cluster from the perspective of dynamic environmental efficiency. [ABSTRACT FROM AUTHOR]

Based on the instrumental variable method and the panel data of 283 prefecture-level cities in China from 2004 to 2016, we explore the relationship between carbon emission, air pollution, and total factor productivity (TFP). The results show that: (1) Both carbon emission-induced and air pollution-induced environmental regulations positively promote TFP. For every 1% increase in the two indicators of the intensity of environmental regulation, carbon emission, and air pollution, TFP will increase by 1.7150 percentage points and 0.6366 percentage points respectively. (2) Carbon emission-induced and air pollution-induced environmental regulation have similar coefficients on TFP, indicating that the effects of the two are synergistic. Carbon emission has a greater impact on TFP, so enhancing environmental regulation on carbon emission can better promote the improvement of TFP. (3) Financial scale and government intervention have a significant intermediary effect between environmental regulation in both aspects and TFP. [ABSTRACT FROM AUTHOR]