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China has always tried to maintain multilateralism and advocated working together to deal with global climate change through multilateral mechanisms. Although China’s announcement to peak its carbon emissions by 2030 comes as no surprise, its commitment to carbon neutrality does. As the period between its carbon peaking and carbon neutrality is far shorter than that in the developed countries, China’s economic and energy structures need to be adjusted toward the low-carbon and carbon-free end with unprecedented efforts. To that end, China should define the responsibilities of local authorities and industrial entities to promote the orderly accomplishment of carbon peaking in all regions and industries. To supply the huge investments needed to achieve the goals of carbon peaking and carbon neutrality, China has an urgent need to accelerate the development of green finance and a national carbon emissions trading market, guide the rational allocation of resources, and channel resources to eco-friendly projects for green and low-carbon development. At the same time, China and the international community should strengthen dialogue and coordination, promote international cooperation on the way to carbon neutrality, formulate widely acceptable policy guidelines as soon as possible, and avoid unilateral measures that may cause conflicts. [ABSTRACT FROM AUTHOR]

As global climate change becomes increasingly severe, energy technology innovation has become a key means of coping with the climate crisis and realizing green and low-carbon development. However, existing literature rarely examines the effects of carbon emission reduction policies based on the perspective of energy technology progress for both short-term economic fluctuations and long-term equilibrium. This paper introduces the fossil energy technology sector and the renewable energy technology sector into the dynamic stochastic general equilibrium (DSGE) model, and compares the effectiveness of the carbon emission cap policy, the fossil energy technology subsidy policy, and the renewable energy technology subsidy policy under the framework of China's carbon trading market in promoting macroeconomic growth and controlling pollutant emissions. We found that in long-term, the emission reduction effect of the carbon emission cap policy falls short of the other two policies, and subsidizing fossil fuel technologies is more cost-efficient comparatively. The government expenditure shock can all stimulate macroeconomic growth with crowding out of private investment and household consumption, whereas the energy technology research productivity shock leads to a decline in total output and an increase in renewable energy technology demand. In addition, pollutant emissions are pro-cyclical under the impact of total carbon policies and counter-cyclical under the impact of energy technology subsidy policies. This article constructs a multi-technology sectoral dynamic stochastic general equilibrium model, expanding the research perspective and theoretical framework for evaluating carbon emission reduction policies. At the same time, it proves the importance of the government to implement the phased energy technology subsidy policy while implementing the carbon emission cap policy, which provides important enlightenment for the implementation and adjustment of carbon emission reduction policy. [ABSTRACT FROM AUTHOR]

At the 75th session of the United Nations General Assembly (UNGA) in 2020, China put forward the goal of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060, a move to lead global response to climate change that has attracted wide attention and hot comments at home and abroad. Therefore, it is of great practical significance and academic value to explore ways of achieving carbon peaking ahead of schedule and study the macroeconomic effect. This paper, based on Energy, Environment and Economy recursive dynamic computable general equilibrium model (TECGE), a dynamic computable general equilibrium model, carries out a quantitative analysis of the effect of strengthening carbon peaking commitment on China’s future macro economy. By setting up four scenarios, namely carbon peaking of 10.8 billion tons, 10.7 billion tons, 10.58 billion tons and 10.36 billion tons in 2030, 2027, 2025, and 2023, it examines the effects of carbon peaking ahead of schedule and carbon peaking in 2030 on macro economy. The findings show that, compared with the 2030 benchmark, the more ahead of schedule carbon peaking is achieved, the higher the carbon tax prices, and that though GDP and other macroeconomic variables, such as aggregate consumption, aggregate imports and exports decline, the share of the tertiary industry increases. That is, the more ahead of schedule carbon peaking is achieved, the more macroeconomic variables decline, and the more the share of the tertiary industry rises. This paper, using computable general equilibrium (CGE) model to conduct a quantitative analysis of the macroeconomic effect, makes policy recommendations for carbon peaking ahead of schedule and high-quality economic development. [ABSTRACT FROM AUTHOR]

To achieve carbon peak targets, realize carbon neutrality vision, and tackle global climate change, China must improve the carbon emission performance at the city level. Based on the carbon emission performance of 191 prefecture-level cities in China from 1997 to 2017, this paper analyses the evolution characteristics of urban carbon emission performance from three aspects: the overall spatial and temporal evolution, the differences according to both region and city size, and the differences among clusters categorized by carbon emission performance at the city level. This paper also reveals the impact of the social and economic transition on China's carbon emission performance. The results show that: (1) The overall level of carbon emission performance of Chinese cities is low, and there is a downward trend during the study period. The differences in carbon emission performance among cities are convergent, but there is a wide gap between high and low values. (2) The carbon emission performance of cities in eastern coastal areas is higher than that in non-coastal areas cities. Large urban agglomerations and economically developed regions, such as provincial capitals, are the agglomeration areas of high urban carbon emission performance values. (3) The carbon emission performance level of cities with similar sizes will converge. At the same time, such changes will enhance the differences among carbon emission performances at the city level within the same region. (4) Cities that belong to high urban carbon emission performance clusters are mainly distributed in the eastern region. Such cities are classified into large cities, supercities, and megacities. Compared with low urban carbon emission performance clusters, cities in high urban carbon emission performance clusters show a higher proportion in the medium-high level and high level of carbon emission performance. Moreover, cities in high urban carbon emission performance clusters are more likely to improve theirurban carbon emission performance. (5) The economic agglomeration effect, industrial structure adjustment and carbon intensity reduction have a significant impact on improving urban carbon emission performance. Population agglomeration has an incremental effect, and the anticipated benefits of environmental regulation have yet to be fully realized. The impacts of different clusters and different regions are variable. Finally, this paper advances policy enlightenment according to its research findings. [ABSTRACT FROM AUTHOR]

China has made remarkable achievements in reducing carbon emissions in recent years. However, there is still much reduction room before achieving carbon neutrality. In Beijing, the capital of China, it is a strategic choice to respond to global climate change by promoting green and low-carbon development. This paper calculates the carbon dioxide emissions of key industries in Beijing and analyzes the temporal evolution trend of carbon emissions. Carbon dioxide emissions in Beijing before 2030 are predicted based on the grey prediction GM (1,1) and BP neural network model. The effects of factors of carbon dioxide emissions are discussed using the threshold regression model under different economic conditions. The results show that energy consumption intensity, GDP per capita, and the ownership of civil cars have a positive impact on carbon dioxide emissions, while the number of permanent residents and urban green space areas have a negative impact on carbon dioxide emissions. These findings of carbon emission prediction and influencing factors contribute to carbon reduction path design. Related policy implications on carbon emission reduction are put forward from the aspects of promoting industrial upgrading, accelerating the construction of advanced economic structures, optimizing transportation structures, and strengthening green building development. [ABSTRACT FROM AUTHOR]

Climate change is a global problem facing mankind, and achieving peak CO2 emissions and carbon neutrality is an important task for China to respond to global climate change. The quantitative evaluation of the trends of urban energy consumption and carbon emissions is a premise for achieving this goal. Therefore, from the perspective of urban expansion, this paper analyzes the complex relationship between the mutual interactions and feedback between urban population, land expansion, economic growth, energy structure and carbon emissions. STELLA simulation software is used to establish a system dynamics model of urban-level carbon emissions effects, and Changsha city is used for the case study. The simulated outputs of energy consumption and carbon emissions cover the period from 1949 to 2016. From 1949 to 2016, Changsha's total energy consumption and carbon emissions per capita have continuously grown. The total carbon emissions increased from 0.66 Mt-CO2 to 60.95 Mt-CO2, while the per capita carbon emissions increased from 1.73 t-CO2/10,000 people to 18.3 Mt-CO2/10,000 people. The analysis of the structure of carbon emissions shows that the industrial sector accounted for the largest proportion of emissions, but it had gradually dropped from between 60% and 70% to about 40%. The carbon emissions of residential and commercial services accounted for less than 25%, and the proportion of transportation carbon emissions fluctuated greatly in 2013 and 2016. From the perspective of carbon emissions effects, carbon emissions per unit of GDP had a clear downward trend, from 186.11 t-CO2/CNY104 to 1.33 t-CO2/CNY104, and carbon emissions per unit of land showed two inflection points: one in 1961 and the other in 1996. The general trend showed an increase first, followed by a decrease, then a stabilization. There is a certain linear correlation between the compactness of urban shape and the overall trend of carbon emissions intensity, while the urban shape index has no linear correlation with the growth rate of carbon emissions. The carbon emissions assessment model constructed in this paper can be used by other municipalities, and the assessment results can provide guidance for future energy planning and decision making. [ABSTRACT FROM AUTHOR]

Carbon peaking and carbon neutrality have become key agendas for countries to participate in global climate change governance. Research on China's carbon peaking has a guidance significance for the actions to achieve a nationwide carbon peaking by 2030. This paper builds a STIRPAT model which, in combination with a scenario -setting method, predicts the carbon peaking time of eight comprehensive economic zones in China, and analyzes the possible path of achieving carbon peaking at national level. The result shows a disparity in carbon peaking time among the zones--there are zones that can achieve carbon peaking under baseline scenario; zones that can achieve carbon peaking under conditional scenarios; and zones that cannot achieve carbon peaking under any scenario. In the first group, the zones can achieve carbon emission through both active path (southwest and eastern coastal comprehensive economic zones) and passive path (northeast comprehensive economic zones) according to characteristics of regional socio-economic development. The second group includes two economic anchors (northern coastal and southern coastal comprehensive economic zones) and an energy-exporting center (the middle reaches of Yellow River comprehensive economic zone). Zones in the third group generally witness a late development (the middle reaches of Yangtze River and northwest comprehensive zones). Based on characteristics of regional economy, population, industry, and energy of each zone, this paper proposes an initiative that the achievement of a nationwide carbon peaking should take regional development equity into consideration, and presumes that making each zone adopts differentiated peaking strategies may have a stronger effectiveness in controlling carbon emission growth than making all zones adopt strategies constraining on single factors on industry or energy. [ABSTRACT FROM AUTHOR]

China's declaration to the international community to peak CO2 emissions before 2030 and achieve carbon neutrality before 2060 is of great significance in advancing the objectives of the Paris Agreement, and has a positive and far-reaching impact on China's high-quality development. This paper expounds on responsibilities and ambitions in tackling climate change, analyzes the high-quality development opportunities brought about by CO2 emissions peak and carbon neutrality, and discusses the net zero carbon emissions transformation in the new era of ecological civilization. This paper is of the view that development towards net zero carbon emissions provides a new impetus for building a Beautiful China, and promoting ecological civilization and green development. The essence of carbon neutrality should be correctly understood so that the world will work together to improve climate resilience. China should also deepen the understanding of the principles and methodologies of climate change economics. [ABSTRACT FROM AUTHOR]

With the statement of Chinese government on energy saving in 2020 at the United Nations General Assembly, carbon neutral was widely spread as a new concept. As a big country, China has the responsibility and obligation to make its own contribution to global climate change. This paper aims to explore and find effective ways for China to achieve carbon neutrality by 2060. We identify the main factors affecting carbon emissions by STIRPAT model; combined with the scenario analysis, we divide the year 2020 to 2060 into three stages: year 2020–2030 is carbon peak stage, year 2030–2050 is rapid emission reduction stage, and year 2050–2060 is complete carbon neutralization stage. At each stage, three development models, high, medium, and low level, were established. There are a total of 27 different scenarios in three stages. A system dynamics model was established to simulate the effects of carbon emission factors and changes in carbon sinks in different scenarios. Finally, 8 paths were found which in line with Chinese current goal of achieving carbon neutrality with treating reach carbon peak in 2030 as an additional filter condition. Comparing per capita GDP levels in different scenarios, we eventually find that keeping economic development at a low level in the first stage, a high level in the second stage, and a medium level in the finally stage, the point where net carbon emissions are less than zero for the first time will appear between year 2056 and 2057. By then, the per capita GDP will reach 144,500 yuan (based on year 2000), nearly four times 2000's. In all, these findings are helpful for policymakers to implement reasonable policies to achieve carbon emission peaking and carbon neutral in China. [ABSTRACT FROM AUTHOR]

The most significant global challenge is global climate change; carbon emission reduction and carbon neutralization are the last way to solve global climate change. Achieving carbon neutrality will significantly impact the global economy and the national economy. The "dual carbon goals" proposed by China will also substantially impact the global economy and regional economic development. Focusing on regional economic development, achieving carbon neutrality is not only an opportunity for regional economic development but also a challenge. To achieve the goal of carbon neutrality, there must be institutional innovation and management innovation, which will provide new opportunities for balanced development among regions. With the development of inclusive finance, financial services for many disadvantaged groups and small and medium-sized enterprises have been further developed, thereby promoting economic development. With the development of Internet finance, big data, cloud computing, and other technologies, the development of inclusive finance, etc., the concept has also emerged. However, due to the short time of digital financial inclusion, the imperfect regulatory system, and the low degree of public participation, it is worth investigating whether the development of digital financial inclusion has a catalytic effect on the improvement of economic growth. Using the data of 31 provinces to build a panel regression model, this paper studies the market development, the development degree of digital financial inclusion, and the impact of digital financial inclusion on the relationship between factor markets and product markets and regions from the perspective of factor markets and product markets. [ABSTRACT FROM AUTHOR]

In the global context, countries must reduce carbon dioxide emissions to "net zero" by 2050 to limit global warming to 1.5 °C above pre-industrial levels. China's Nationally Determined Contributions (NDCs) are to peak carbon dioxide emissions by 2030 and achieve the carbon neutrality target by 2060. To monitor the achievements of the NDCs, establishing an annual-based accounting mechanism is necessary to record the carbon stocks in China, especially for Blue Carbon. The paper aims to present China's first national-scale systematic Blue Carbon accounting for mangroves, salt marshes, and seagrasses, covering the accounting subjects of physical and monetary assets, as well as relevant indicators for investors. It focuses on the design of the accounting method and system, the selection of data categories applied to this system, and the application of China's Blue Carbon accounting based on this accounting system. Taking Blue Carbon accounting as a starting point, this paper analyses the restoration prospects of these ecosystems and their application potential for NDCs in China compared with the terrestrial ecosystems. The results indicate that mangroves are the most cost-effective type of ecosystem, even compared to terrestrial forests. Thus, the paper provides policymakers with a new perspective on the decision-making of carbon sequestration relevant decisions, aiming to promote the monitoring, restoration, and expansion of China's coastal blue carbon ecosystem through the establishment of a sound Blue Carbon accounting system, and to help achieve the carbon neutrality goal in China's NDCs through regular and systematic monitoring of its national Blue Carbon inventories. • China's coastal blue carbon ecosystems are carbon sources rather than carbon sinks. • Mangroves are the most cost-effective coastal blue carbon ecosystem compared to salt marshes and seagrass beds. • The Blue Carbon of mangroves is more cost-effective than the Green Carbon of terrestrial forests when meeting China's Nationally Determined Contributions target of increasing forest stocks. • Establishing guidelines for Blue Carbon data requirements will lay a scientific foundation for formulating strategies and policies to cope with global climate change. [ABSTRACT FROM AUTHOR]

The intensification of global climate change has led to a widespread consensus on carbon reduction, with the power industry being the principal contributor to carbon emissions necessitating an inevitable transition of its energy structure. Concomitantly, the escalating frequency of natural disasters caused by extreme weather presents formidable challenges to both secure power supply and the low-carbon transition of the power system. To fulfill the developmental requirements of a low-carbon power system and address the carbon emission risks imposed by natural disasters, this paper proposes a bi-level model for generation expansion planning (GEP) that incorporates constraints on the carbon emission trajectory and the influence of natural disasters. The planning-level model optimizes investment costs of various generation technologies and energy storage (ES), as well as the overall operational expenses over the planning period, with an objective to minimize them. It incorporates carbon emission trajectory constraints and policy constraints, such as carbon peaking, carbon neutrality and renewable energy (RE) penetration rates, in order to optimize the planning installed capacity of power sources. The operational-level model aims to minimize typical daily operating costs while also simulating power unit outputs in routine and disaster scenarios. A case study is conducted in a disaster-prone province in southern China to analyze the power generation expansion planning and the trajectory of carbon emissions from 2020 to 2060 under different scenarios. The simulation results show that compared to thermal power, the planning scheme mainly focused on RE with ES is better suited to achieve the goal of a low-carbon transition of the power grid. Moreover, after considering natural disasters, the cost and carbon emissions of power system planning are higher, and the risk of carbon emissions increases with the severity of disasters. • A multi-time scale bi-level low-carbon GEP model is proposed. • Natural disaster scenarios and low-carbon policy constraints are considered in the GEP model. • Carbon emission trajectory of the planned power system is estimated and introduced as a constraint into the GEP model. • Evaluation indicators that comprehensively consider low-carbon performance and economic feasibility are proposed. [ABSTRACT FROM AUTHOR]

In the pursuit of carbon neutrality, state-owned forests are prime candidates for carbon offset projects due to their unique tenure and management characteristics. Employing methodologies endorsed by the International Panel on Climate Change and logistic growth curves, this study assesses the carbon stocks and sequestration potential of established state-owned plantation forests across 31 Chinese provinces from 2023 to 2060, encompassing seven forestry industry groups. This study projects that by 2060, these forests will amass a carbon stock of 558.25 MtC, with the highest stock in Northeast China (122.09 MtC) and the lowest in Northwest China (32.27 MtC), notably showing the highest growth rate at 91.15%. Over the forecast period, they are expected to accumulate a carbon sink of 637.07 MtCO2e, translating to an average annual carbon sink of 17.22 MtCO2e and an average annual carbon sink per unit of 1.41 tons of CO2 per hectare per year. Additionally, state-owned forests have the potential to offset approximately 0.15%–0.17% of annual carbon emissions, aligning with international climate goals. However, it is essential to note that the conversion of these carbon sinks into tradable carbon credits is subject to specific methodology requirements. Therefore, the future development of carbon offset projects in China's state-owned forests should consider the advancement of carbon market mechanisms, including the Chinese Certified Emission Reduction and the introduction of a carbon inclusion mechanism and natural forest methodology, to fully realize their potential contributions to carbon neutrality. In summary, these findings offer valuable insights for shaping the future of carbon offset initiatives within China's state-owned forests. [ABSTRACT FROM AUTHOR]

• Forecasting-test framework for long-term power system planning. • Coal-fired generators can be completely withdrawn from the power system by 2060. • China's power capacity mix will transition to wind and solar generators dominated. • Biomass and gas-fired generators will take on the role of reserved generators. • The timing of achieving China's zero-coal power system may be advanced or delayed. Facing the challenges of climate deterioration, environmental pollution, and energy shortages, China has put forward the goals of "carbon dioxide peaking and carbon neutrality", and the electricity sector will be the key area and the main direction of carbon emissions reduction. To prospect China's power system and explore the potential for establishing China's zero-coal power system in the future, this paper proposes a forecasting-test framework for long-term power system planning. We predict, evaluate, and analyze China's power system from 2025 to 2060 using the proposed forecasting-test framework. During this process, the power capacity mix and the electricity generation mix of China's power system will gradually transition from coal-fired generators dominated to wind and solar generators dominated. Moreover, the roles of different generators and energy storages are illustrated through the seasonal comparison and sensitivity analysis of the installed capacity of generators. The results indicate that coal-fired generators can be completely withdrawn from the power system, confirming the feasibility and possibility of achieving China's zero-coal power system by 2060. Although the timing may be advanced or delayed in different scenarios, achieving China's zero-coal power system will require exercising nationwide planning and making joint efforts of various sectors from now on. [ABSTRACT FROM AUTHOR]

This study explores the impact of political uncertainty on sustainable urban development by examining carbon emission trading systems (ETS) in four major markets in China (Beijing, Shanghai, Guangdong, and Hubei) from 2014 to 2022. As an alternative to carbon taxes, carbon ETS markets have become increasingly popular due to their success in reducing greenhouse gas emissions. However, their effectiveness is often hindered by political instability and uncertainty. Utilising logistic regression and AR(1)-GARCH estimations, we identify a negative relationship between political uncertainty and carbon trading volume. Our study also reveals significant variations in the responses of these markets to political uncertainty. The paper contributes to the understanding of how ETS markets operate in a complex and constantly changing political environment. We suggest that policymakers need to consider the impact of political uncertainty on carbon trading when designing and implementing urban policies that promote sustainable development. Additionally, our research contributes to the development of urban policies that can be effectively implemented in both developed and developing regions. • Local government official turnovers are used as the measurement of political uncertainty. • Daily transaction data from four carbon ETS markets (Beijing, Shanghai, Hubei and Guangdong) in China • Considered the probability and proportion of zero transaction day • Logistic regression and AR(1)-GARCH estimations • A negative relationship between political uncertainty and carbon transaction volume [ABSTRACT FROM AUTHOR]

To achieve the goals of carbon peaking and carbon neutrality, China is actively promoting carbon reduction in many areas. Agriculture is one of the main sources of greenhouse gas emissions, and promoting the development of low-carbon agriculture is a critical way to achieve carbon reduction targets. Taking Chongming District in Shanghai as an example, this study summarizes the experience of low-carbon agricultural development in Chongming and analyzes the problems and challenges faced during its development. Finally, based on the system dynamics method, the causal relationship of carbon emission in Chongming's agricultural development is constructed, and feasible loop optimization suggestions are put forward. [ABSTRACT FROM AUTHOR]

How to achieve the "double carbon" goal in energy systems has been the concern of governments. Integrated energy system (IES) is affected by climate change during his operation, in order to study the impact of climate change on IES and achieve the "double carbon" goal in energy systems, this paper proposes an integrated machine learning(IML) to forecast the long-term load, then investigates IES costs and carbon emissions in relation to climate, followed by the establishment of carbon peak energy system(CPES) and carbon neutral energy system(CNES), finally the honey badger algorithm is used to optimize the configuration of CPES and CNES. The results show that: IML can accurately make load forecasts. Under climate change, changes in load reduce the cost and carbon emissions of IES, and changes in equipment efficiency increase the cost and carbon emissions of IES. When both are considered, the cost and carbon emissions of IES increase by 1.18% and 0.92% per decade respectively. The costs of CPES and CNES increase by 0.93% and 1% respectively for every 10 years earlier than the year of achievement. To meet China's "double carbon" goal, CPES and CNES need to increase their costs by 1.97% and 2% respectively. • Integrated machine learning proposed for long-term load forecasting. • Studied the impact of system equipment efficiency and load with climate change. • Proposing carbon peaking energy system to achieve the carbon peak goal. • Proposed carbon-neutral energy system to achieve carbon neutrality goal. • The increased costs of achieving carbon peak and carbon neutral were studied. [ABSTRACT FROM AUTHOR]

Achievement of national climate targets and the corresponding costs would entirely depend on regional actions within the country. However, because of substantial inequalities and heterogeneities among regions, especially in developing economies, aggressive or uniform actions may exacerbate inequity and induce huge economic losses, which in turn challenges the national climate pledges. Hence, this study extends prior research by proposing economically optimal strategies that can achieve national climate targets and ensure the greatest local and national benefits as well as regional equality. Focusing on the biggest developing country China, we find this strategy can avoid up to 1.54% of cumulative GDP losses for approaching carbon neutrality, and more than 90% of regions would obtain economic gains compared either with existing independently launched targets or with the uniform strategy that all regions achieve peak carbon emissions before 2030. We also provide optimal carbon mitigation pathways to regional peak carbon, carbon intensity and energy consumption. Aggressive or uniform actions on climate targets may exacerbate regional inequality and induce economic losses in China. The proposed collaborative strategy for carbon neutrality can avoid up to 1.54% of GDP losses while 90% of provinces would gain. [ABSTRACT FROM AUTHOR]

For curbing the global climate crisis, China has set an ambitious target of peak carbon emissions by 2030. Beijing, the capital of China, has implemented a carbon reduction policy since 2012. Using the reduced and generalized forms of the Environmental Kuznets Curve (EKC), we deduce that both the cubic EKC and the genetic algorithm-based EKC have an N-shape. The first turning point of the three-order EKC occurs around 2011, demonstrating the effectiveness of the carbon reduction policy. However, the time series model predicts that Beijing will reach the second turning point around 2026, when the gross domestic product (GDP) is about CNY 5000 billion and carbon emissions will begin to increase again. Interpretable machine learning is proposed to explore the socio-economic drivers in carbon emissions, indicating that total energy consumption and GDP contribute the most. Therefore, we should accelerate the upgrading of energy consumption and adjust the industrial structure, thus facilitating Beijing to its peak carbon emissions and achieving carbon neutrality. [ABSTRACT FROM AUTHOR]

• This paper analyzes China's challenges toward carbon neutrality (CN) by 2060. • Currently, up to 85% of China's energy consumption relies on fossil fuels. • China's zero-carbon technologies and economy are not yet sufficient for CN. • Thus, we propose a three-stage/four-step strategy for China to achieve CN. • This paper also presents seven suggestions to foster China's green transition. In response to climate change, the Chinese government has set a clear goal to reach its carbon peak by 2030 and achieve carbon neutrality by 2060, endeavoring to gradually realize net-zero carbon dioxide (CO 2) emissions. This paper explores the concept of carbon neutrality and makes a comparative analysis of the gap between China, the European Union, and the United States vis-à-vis carbon neutrality based on international data. The main challenges China faces in its progress toward carbon neutrality are the following: first, China's energy consumption and CO 2 emissions continue to increase, while its carbon peak has not yet been reached; second, carbon emission reduction in China is an arduous process, as the transition period allowed for the country to transition from its carbon peak to carbon neutrality is shorter than that of developed countries; third, China remains reliant on high-carbon fossil energy, with high energy consumption and low energy utilization efficiency; fourth, China's low level of economic development, compared with those of the EU, the US, or other developed countries, makes it relatively weak to withstand economic risks; and fifth, China's low-carbon and zero-carbon technologies are not mature. Therefore, this paper posits a three-stage/four-step strategy as well as seven specific suggestions that could benefit China's progress toward carbon neutrality. [ABSTRACT FROM AUTHOR]

China is currently recognized as the leading global energy consumer and CO2 emitter. A significant amount of carbon emissions can be attributed to urban public buildings. Establishing an equitable and efficient carbon emission allocation mechanism is a crucial step to meeting the ambitious targets in China's 2030 carbon peak plan. In this study, we estimate the total amount of CO2 emissions from urban public buildings by 2030 and propose a preliminary scheme of carbon quota assignment for each province. By means of applying the zero-sum gains data envelopment analysis (ZSG-DEA) model, the carbon emission quotas allocation of urban public buildings in China's 30 provinces is proposed, and the corresponding pressure to reduce provincial carbon emissions is analyzed. The results indicate that Qinghai has the lowest carbon emission rate (0.01%) for urban public buildings, while Guangdong has the highest (9.06%). Among the provinces, Jiangsu, Jiangxi, and Tianjin face the least pressure in reducing carbon emissions from urban public buildings. On the other hand, Hebei, Beijing, and Anhui are under great pressure to decrease carbon emissions. Notably, Hebei is predicted to have the highest emission reduction requirement of 95.66 million tons. In terms of pressures on carbon emissions reduction for urban public buildings, Jiangsu, Jiangxi, and Tianjin exhibit the least pressure. Hebei, Beijing, and Anhui are facing intense pressure to decrease carbon emissions. These findings offer policymakers valuable insights into developing a fair and efficient carbon allowance allocation strategy, while also contributing to China's efforts to mitigate carbon emissions and combat climate change. [ABSTRACT FROM AUTHOR]

As the climate is warming up and climate disasters occur more frequently, China's carbon peak and carbon neutrality targets are gaining attention, with provinces starting to set carbon peak targets and constantly exploring low carbon economic development opportunities. However, the existing evaluation index system mainly focuses on low carbon cities and green cities, and there is no evaluation index system for carbon peak and carbon neutrality. This study adopts a combination of theoretical and empirical research and draws on domestic and international research results to construct the first index system for evaluating China's provincial carbon peak and carbon neutrality. The evaluation index system includes 18 indicators from three dimensions: climate ambition, low carbon status, and emissions trends. Using this index system, we calculated the carbon peak and carbon neutrality indices of 30 Chinese provinces. Further, the 30 provinces were classified into six categories, and corresponding policy recommendations for achieving the "Dual carbon" targets were put forward. The evaluation index system constructed in this paper can provide a reference for future carbon peak and carbon neutrality assessments. By disclosing the integrated index of each province, we hope to effectively curb the increasing local carbon emissions; avert inaction in areas with good natural endowments; and motivate the advancement of the latter, to boost the implementation of the "Dual carbon" targets coherently for the whole country. [Display omitted] • An integrated evaluation system on China's Provincial "Dual carbon" was proposed. • 30 provinces in mainland China were ranked based on the integrated index. • 6 groups were classified to show provincial differences on dual carbon performance. • Policy recommendations to fulfill China's climate commitment were put forward. [ABSTRACT FROM AUTHOR]

• Constructing a new welfare function considering economy, equity and ecology. • Optimizing carbon emission pathways from multiple perspectives. • Focusing on the emission pathways in China achieving the ambitious targets. With the increasing climate warming, reducing carbon emissions has gradually become a consensus around the world. However, the process of carbon emission reduction will inevitably lead to the transformation of economic structure, industrial structure and energy structure, which will bring huge changes in economic output, employment and other aspects, thus affecting the overall social welfare and equity. Therefore, it is particularly important for each country to determine a scientific and effective carbon emission pathway which take into account both social development and climate targets. As the largest carbon emitter, China has put forward the targets of carbon peak and carbon neutrality. In this regard, the corresponding carbon emission reduction scenarios are designed according to the new situation of China's emission reduction in this paper, firstly. Furthermore, under the premise of maximizing social welfare, an optimization model which integrating economic growth-equity-environment is developed to determine China's emission pathways under different scenarios from 2020 to 2050. Besides quantitatively showing the future total amount and peak value of carbon emissions under different scenarios, the results can also identify its evolution pathway over time. Therein, the peak under most scenarios will concentrate in 2025–2030, which is about 10.7 to 11.8 billion tons. With the increasingly stringent constraints on carbon emission reduction, the cost of emission reduction will increase correspondingly, but the overall social welfare will increase slightly. Finally, our findings provide practical guidance on achieving carbon emission reduction and enlightenments on policymaking. [ABSTRACT FROM AUTHOR]

As a major carbon dioxide-emitting country, China set carbon trading market to reduce enterprise carbon emissions through the rational allocation of carbon quotas among different enterprises and regions. The market has also conducted a preliminary exploration for the country to achieve carbon dioxide emissions peak in 2030 and carbon neutrality in 2060 while actively addressing the challenges of global climate change. This study analysed the emission reduction effect of China's carbon trading pilot policy, especially the role of carbon quota and carbon trading price. The analysis used county-level panel data from 1997 to 2017, regarded the implementation of the carbon trading pilot policy as a quasi-natural experiment, and used the difference-in-differences method. The results showed that, first, the policy implementation not only reduced regional carbon emissions but also inhibited carbon dioxide emissions per capita, with long-term effects. Second, the carbon emission reduction effect brought by the carbon pilot policy showed significant heterogeneous results with the different degrees of regional carbon emissions and environmental supervision. The effect was greater in areas with higher carbon emission density and stronger legal supervision. Third, the difference in carbon quota allocations resulted in different emission reduction effects, among which the historical method had the strongest effect. The carbon quota price and number of enterprises participating carbon trading market were the key factors affecting carbon emission reduction. • This paper investigates the impact of carbon emission trading market on the carbon reduction. • China provides an excellent "Quasi-natural Experiment" for assessing the role of carbon emission trading market in environmental management. • It is found that policy implementation has significantly reduced various types of carbon emissions, and this reduction effect is long-term. • Stimulating the vitality of the carbon market and expanding the supply and demand of carbon quotas are the main ways to achieve carbon emission reduction. [ABSTRACT FROM AUTHOR]

With the continuous development of industry, the massive emission of carbon dioxide (CO2) has become a global challenge that cannot be ignored due to its nature as the primary driver of global climate change and environmental crisis. Carbon neutrality is proposed as a global initiative to mitigate climate change. As a developing industrial country, China provides about one-third of global carbon emissions and has set a carbon-neutral goal by 2060. To achieve this goal, continuous efforts across the country are required. In this review, Zhejiang Province, one of the most developed regions in China, is set as a model for analysis. We first summarize the current situation of carbon emission in Zhejiang Province. Then, corresponding sustainable approaches such as ecological and industrial solutions for the reduction of future carbon emissions are introduced for Zhejiang Province. We also provide a direction for the realization of carbon neutrality, focusing on the most promising solutions for Zhejiang Province. [ABSTRACT FROM AUTHOR]

Carbon emissions trading is a major innovation in the practice of using market mechanism to control and reduce greenhouse gas (GHG) emissions and promote green and low-carbon development. It is an important way to achieve China's carbon peaking and carbon neutrality goals (the "dual carbon" goals) at a relatively low cost. Starting late and having gone through three development stages, China's national carbon market has entered a new stage. However, given the problems such as incomplete institutional, regulatory and carbon emissions verification systems, less balanced and vibrant market, limited transaction entities and trading products, and lack of voice due to insufficient participation in relevant international affairs, continuous efforts are still required to further improve this market by deepening reform, strengthening capacity building and increasing international cooperation. [ABSTRACT FROM AUTHOR]

China's newly announced carbon neutrality goal manifests its determination to advance green and low-carbon development. The country aims to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. Consequently, guidelines and action plans have been actively deployed and issued. The carbon neutrality commitment (vision) and its detailed deployment (action) would contribute to climate change mitigation and corporate market value. Therefore, we categorize the carbon neutrality-related events and analyze their impacts on the stock market from July 2020 to March 2021. The main findings are as follows: (1) The action event have increased the carbon neutrality-related stocks by 0.04%, while that of the vision event is – 0.003%, indicating that investors' confidence increases when the carbon neutrality commitment is accompanied by specific and detailed guidelines. (2) The impact of carbon neutrality announcement becomes more positive and significant after related events occur repeatedly. (3) Carbon neutrality-related power industry and state-owned enterprises are potential beneficiaries of this decarbonization goal. Our study supplements the literature on climate policy and its economic value, potentially contributing to the next stage of global decarbonization. [ABSTRACT FROM AUTHOR]

Carbon dioxide has a significant impact on global climate change due to its natural greenhouse effect. The objective and credible forecast of carbon emissions is very important for the government to formulate and implement the corresponding emission reduction targets. For controlling the growth of carbon emissions, Chinese government has put forward the low-carbon pilot policy and carbon trading policy. However, the existing grey models cannot measure the impact of policies and their interactions. In order to remedy the defect, a novel grey multivariable model based on dummy variables and their interactions is established. Two kinds of grey multivariable models and back propagation neural network model are chosen as comparison models to highlight that the introduction of dummy variables and their interactions plays an important part in improving the model performance. To verify the effectiveness, these four models are selected to simulate and predict the carbon emissions generated from primary energy consumption in Guangdong Province of China. The empirical results indicate that the mean absolute percentage errors of the novel model are 2.87% and 0.86%, respectively, which is significantly better than these three competing models. Finally, based on the outstanding performance of the novel model, it is chosen to forecast the fluctuating tendency of carbon emissions in the next 5 years. [ABSTRACT FROM AUTHOR]

Clarifying the time-varying spillovers among pilot carbon emission permit trading markets in China is an important foundation for building the national carbon emission trading market. We calculate the dynamic spillover of carbon price return among the pilot carbon emission permit trading markets in China with the time-varying connectedness approach. The dataset is constructed from transaction data from seven pilot carbon markets in China during the period of June 23, 2014, to December 31, 2020. The quantitative analysis suggests that (i) Beijing and Chongqing carbon emission trading markets are the main spillover markets of carbon price returns, with strong pricing power, while the Guangdong and Tianjin markets are the main receivers of the price return spillover in other pilot carbon emission trading markets. (ii) The spillover effect among China's carbon markets has a strong policy orientation. The improvement and development of the carbon market driven by macroeconomic regulation and control policies can effectively improve the spillover ability of the carbon market, and the market trading activity, namely the volatility of the carbon price return rate, can amplify the spillover ability of the carbon market in the short term. (iii) There exist three types of price return spillover among China's pilot carbon emission trading markets, including central divergence, one-way chain transmission, and circular spillover. Along with the improvement of market operation efficiency, the central divergent type of spillover shifts to the pattern of circular spillover. It is necessary for the government to improve market efficiency and ensure the coordinated development of China's pilot carbon emission trading market and national carbon emission trading market. [ABSTRACT FROM AUTHOR]

The impact of human-caused environmental pollution and global climate change on the economy and society can no longer be underestimated. Agriculture is the most directly and vulnerably affected sector by climate change. This study used beans, the food crop with the largest supply and demand gap in China, as the research object and established a panel spatial error model consisting of multiple indicators of four factors: climate environment, economic market, human planting behavior and technical development level of 25 provinces in China from 2005 to 2019 to explore the impact of climate environmental changes on the yields of beans. The study shows that: (1) The increase in precipitation has a significant positive effect on bean yields; however, the increase in temperature year by year has a significant negative effect on bean yields; (2) carbon emissions do not directly affect bean production at present but may have an indirect impact on bean production; (3) artificial irrigation and fertilization behavior on bean production has basically reached saturation, making it difficult to continue to increase bean yields and (4) the development of technology and human activity is a mixed blessing, and the consequent inhibiting effects on bean production are currently unable to offset their promoting effects. Thus, when it comes to bean cultivation, China should focus mainly on the overall impact of environmental changes on its production, rather than technical enhancements such as irrigation and fertilization. [ABSTRACT FROM AUTHOR]

Climate change has put countries around the world under great pressure to reduce greenhouse gas emissions. Chinese government has proposed that China will strive to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. A low-carbon lifestyle is becoming a new trend in China. Therefore, the products of firms that actively respond to climate change are more popular for consumers in China. In the Internet era, the carbon information disclosed by firms has become an important way for consumers to understand the behavior of firms in responding to climate change. In the existing literature on the influencing factors of carbon information disclosure, the psychological factors of executives are seldom investigated. Using a sample of Chinese listed firms in low-carbon pilot provinces and cities during the period of 2015–2019, this study explores the influence of government regulation and executive overconfidence on the quality of carbon information disclosure. The results show that government regulation has a significantly positive impact on the quality of carbon information disclosure. The results also reveal that executive overconfidence negatively affects the quality of carbon information disclosure. Moreover, executive overconfidence negatively moderates the relationship between government regulation and the quality of carbon information disclosure. Our findings make a significant contribution to the role of executive's psychological factors in firm's behaviors and provide new insights and policy implications for government, firms, consumers, and other stakeholders. [ABSTRACT FROM AUTHOR]