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China's carbon emission trading policy plays a crucial role in achieving both its "3060" dual carbon objectives and the United Nations Sustainable Development Goal 13 (SDG 13) on climate action. The policy's effectiveness in reducing pollution and mitigating carbon emissions holds significant importance. This paper investigated whether China's carbon emission trading policy affects pollution reduction (PM 2.5 and SO 2) and carbon mitigation (CO 2) in pilot regions, using panel data from 30 provinces and municipalities in China from 2005 to 2019 and employing a multi-period difference-in-differences (DID) model. Furthermore, it analyzed the heterogeneity of carbon market mechanisms and regional variations. Finally, it examined the governance pathways for pollution reduction and carbon mitigation from a holistic perspective. The results indicate that: (1) China's carbon emission trading policy has reduced CO 2 emissions by 18% and SO 2 emissions by 36% in pilot areas, with an immediate impact on the "carbon mitigation" effect, while the "pollution reduction" effect exhibits a time lag. (2) Higher carbon trading prices lead to stronger "carbon mitigation" effect, and larger carbon market scales are associated with greater "pollution reduction" effects on PM 2.5. Governance effects on pollution reduction and carbon mitigation vary among pilot regions: Carbon markets of Beijing, Chongqing, Shanghai, and Tianjin show significant governance effects in both "pollution reduction" and "carbon mitigation", whereas Guangdong's carbon market exhibits only a "pollution reduction" effect, and Hubei's carbon market demonstrates only a "carbon mitigation" effect. (3) Currently, China's carbon emission trading policy achieves pollution reduction and carbon mitigation through "process management" and "end-of-pipe treatment". This study could provide empirical insights and policy implications for pollution reduction and carbon mitigation, as well as for the development of China's carbon emission trading market. • China's carbon emission trading (CET) policy promotes pollution reduction and carbon mitigation. • Higher carbon trading prices lead to stronger "carbon mitigation" effect. • Larger carbon market scales bring greater "pollution reduction" effects on PM 2.5. • Regional heterogeneity exists on pollution reduction and carbon mitigation. [ABSTRACT FROM AUTHOR]

Numerous studies have discussed the economic impacts of the COVID-19 pandemic in recent years. However, the effectiveness and trade-offs of diverse countermeasures still need to be investigated, particularly under the long-term goal of low-carbon transition, which is crucial for understanding the potential impacts of the future public health emergency (PHE) related economic crisis. Given that China still faces big pressures from the potential PHE and carbon neutrality, this paper assesses the effectiveness of policy instruments in restoring the economy and advancing green development after the PHE using the Dynamic Stochastic General Equilibrium framework. Our findings reveal that the PHE imposes more constraints on the economy because of the decrease in productivity on the supply side and in consumption on the demand side. Compared to the other counterparts, the mixed stimulus can overcome the adverse impacts of the PHE while contributing to carbon reduction. Furthermore, all types of low-carbon policies investigated in this study can contribute to carbon reduction at the expense of economic growth. Meanwhile, the carbon tax realizes the target of reducing emissions with the smallest negative impact on economic growth. Thus, we suggest adopting the carbon tax policy as the most effective low-carbon measure to address uncertainties associated with the PHE. • This study explores pathways for advancing economic recovery and green development after the public health emergency. • We develop a scenario-based dynamic stochastic general equilibrium (DSGE) model. • We characterize public health emergency shocks from a supply and demand perspective. • The model introduces different carbon abatement mechanisms. [ABSTRACT FROM AUTHOR]

Accurately predicting carbon trading prices using deep learning models can help enterprises understand the operational mechanisms and regulations of the carbon market. This is crucial for expanding the industries covered by the carbon market and ensuring its stable and healthy development. To ensure the accuracy and reliability of the predictions in practical applications, it is important to evaluate the model's robustness. In this paper, we built models with different parameters to predict carbon trading prices, and proposed models with high accuracy and robustness. The accuracy of the models was assessed using traditional survey indicators. The robustness of the CNN-LSTM model was compared to that of the LSTM model using Z-scores. The CNN-LSTM model with the best prediction performance was compared to a single LSTM model, resulting in a 9% reduction in MSE and a 0.0133 shortening of the Z-score range. Furthermore, the CNN-LSTM model achieved a level of accuracy comparable to other popular models such as CEEMDAN, Boosting, and GRU. It also demonstrated a training speed improvement of at least 40% compared to the aforementioned methods. These results suggest that the CNN-LSTM enhances model resilience. Moreover, the practicality of using Z-score to evaluate model robustness is confirmed. • Deep learning by combined CNN-LSTM networks for carbon price forecasting. • Hyperparameter tuning of deep learning models for improving forecast accuracy. • CNN-LSTM models outperform single CNN models and single LSTM models. • Performance metric of deep learning for abrupt changes in carbon price variation. [ABSTRACT FROM AUTHOR]