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This paper tries to explain the economic significance of “pursuing green development and promoting harmony between humanity and nature” in the Report to the 20th National Congress of the Communist Party of China (CPC) from the following eight aspects. First, it explains how to respect, adapt to, and protect nature through the confirmation of ownership, valuation classification and incentive. Second, it analyzes why China should work actively toward the goals of peaking carbon emissions and achieving carbon neutrality from the new security concept, new challenges, new situations, and new tasks brought by the urgency and severity of climate change risks. Third, it expounds on the difficulty and complexity of addressing climate change from multiple aspects, such as the ratchet effect, Giddens’s paradox, prisoner’s dilemma, lock-in effect, asset stranding, intergenerational equity, and the Wandering Earth scenario. Fourth, it recognizes the importance of stability, overall planning, and coordination based on the overall planned and coordinated triangle of high-quality development, carbon neutrality, and energy security. Fifth, it emphasizes the importance of green and low-carbon technological innovation by means of the IPAS equation. Sixth, it explains the essence of carbon neutrality as the industrial transition based on the energy transition, which is an economic logic. Seventh, taking the carbon market as an example, it explains the economic principle that the market mechanism plays an important role. Eighth, it explains how finance empowers the goals of peaking carbon emissions and achieving carbon neutrality as well as high-quality development. Finally, this paper is of guiding significance for economics, finance, international trade, and policy research, and in the meantime, provides new research tasks. [ABSTRACT FROM AUTHOR]

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]

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]

This study delves into the nexus between the efficiency of carbon emission allocation and the efficiency of green development within the context of innovative city construction. Leveraging data from 283 prefecture-level cities and corresponding provincial-level panel data spanning the period from 2005 to 2019 in mainland China, the research employs the zero-sum gain DEA model to compute provincial carbon emission allocation efficiency and allocate allowances. Furthermore, it utilizes the all-factor non-radial directional distance function and the SBM-DEA model to gauge the green development efficiency of prefecture-level cities. The double-difference method is applied to evaluate the impact of innovative city construction on regional green development efficiency. The results indicate that an imbalance between carbon emission allocation efficiency and emission quotas detrimentally affects urban green development. However, technological progress, factor accumulation, and the institutional environment associated with innovative city building mitigate this negative impact. Heterogeneity analysis reveals a differentiated effect of innovative city building on regional green development efficiency. This paper not only explores the concept of achieving an equitable distribution of carbon emission allowances but also examines how innovative city building influences regional green development. By establishing connections between urban policies, the equitable distribution of carbon emission allowances, and regional green development, it introduces a new perspective for promoting high-quality development at the regional level. [ABSTRACT FROM AUTHOR]

Using panel data for Chinese prefecture-level and above cities from 2003 to 2017, we employed the difference-in-differences (DID) method to explore whether innovative city constructions reduced carbon emissions. The results show that innovative city constructions significantly curb carbon emissions in Chinese cities, which is supported by a series of robustness tests. Specifically, we found that innovative city constructions could reduce carbon emissions by 5.21%, which is equivalent to a total of about 5.46 million tons. In addition, we provided evidence that innovative city constructions curb carbon emissions by promoting technological innovation, industrial upgrading and industrial green development, ecological improvement, and government intervention. Furthermore, heterogeneous results indicate that the carbon reduction effect of innovative city constructions is mainly found in eastern cities and cities with better industrial development and human capital base. Our findings further enrich the study on the environmental benefits of national innovation incentives and public policies and provide important insights in carbon neutrality and achieving sustainable development, especially for developing and emerging market countries. [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]

Carbon neutrality is a key human endeavor to deal with global climate while China is the country producing the most publications on carbon neutrality. However, what are the focuses of carbon-neutrality research in China? To answer such an important question, this study adopts a bibliometric approach to analyze carbon-neutrality journal publications from China-based researchers during the period of 2008–2022 using CNKI and Scopus. Results showed that carbon-neutrality publications in Chinese and English journals by Chinese-based researchers increased from 4 in 2008 to 2879 in 2022. In Chinese journals, X.D. Hao was the most productive author with 10 publications. In English journals, Y.K. Zhou was the most productive author with 14 publications. As a whole, the Chinese Academy of Sciences was the most productive institution with 376 publications. Co-occurrence of keywords analysis revealed seven themes in Chinese journal articles, namely, "carbon neutrality and climate change", "energy transformation", "peak carbon emission", "carbon emission and low carbon economy", "realization path in China", "hydrogen energy and clean energy", and "green finance and sustainable development". In English journals, three major clusters were formed—"carbon, carbon neutralities, emission control, and energy utilization", "carbon dioxide, carbon neutrals, biomass, and electrocatalysts", and "China, carbon neutrality, sustainable development, and economic development." Most extant publications focused on policy and technological development. Emphasis shall be paid to social change and changes in people's behavior, sectoral carbon emissions, and carbon leakage in future research. [ABSTRACT FROM AUTHOR]

Improving carbon emission efficiency is crucial for realizing carbon neutralization. Many critical influencing factors of carbon emission efficiency were identified by previous studies, but they ignored the impact of carbon capture, utilization, and storage (CCUS) technology, which is considered in this study. By employing the panel fixed effect, the moderating effect, and the panel threshold regression models, this study investigates the influence of CCUS technology on carbon emission efficiency and how that impact fluctuates when digital economy is incorporated. Data for China's 30 provinces from 2011 to 2019 is adopted. The results suggest that improving CCUS technology significantly promotes carbon emission efficiency and the promotion effect is positively moderated by digital economy. Considering the level of CCUS technology or digital economy, the effect of CCUS technology on carbon emission efficiency is nonlinear and has significant double-threshold effects. Only when CCUS technology reaches a certain threshold, can it has a significantly positive impact on carbon emission efficiency and that effect has an increasing trend in marginal utility. Meanwhile, with the deepening of digital economy, the relationship between CCUS technology and carbon emission efficiency shows an S-shaped curve trend. Those findings, first combining CCUS technology, digital economy, and carbon emission efficiency together, reflect the significance of advancing CCUS technology and adjusting the development of digital economy for achieving sustainable low-carbon development. [ABSTRACT FROM AUTHOR]

To measure and analyze the evolution characteristics and influencing factors of China's industrial green development level is of great significance in achieving carbon neutrality goal. Based on the panel data from 2000 to 2018 of 30 provinces in China, this research uses the super slack-based measuring model and the Malmquist-Luenberger index to calculates China's industrial green total factor productivity and to describe its evolution characteristics using the kernel density function and moreover uses the Spatial Durbin model and the partial differential method to explores its main influencing factors. This study finds that China's overall industrial green development level is not high but shows an upward trend year by year; carbon emissions, fiscal decentralization, and urbanization are not conducive to improving the national industrial green development level, whereas economic development, foreign direct investment, industrial structure, and technological progress are positive contributors. At the same time, the level of economic development and technological progress have significant direct and spatial spillover effect. Our findings also provide some policy implications for improving China's industrial green development. [ABSTRACT FROM AUTHOR]

Environmental regulation plays an important role in enhancing urban land green use efficiency (ULGUE), while economic and environmental performance evaluation may also impact ULGUE in the Chinese context. Using data from 282 prefecture‐level cities in China from 2006 to 2019, this article empirically tests the impacts of performance evaluation and environmental regulation on ULGUE by establishing a two‐way fixed‐effect model. The results show that environmental regulation has a significant contribution to ULGUE. However, environmental regulation also significantly increase carbon emissions from urban construction land, which is mainly influenced by the Chinese government's performance assessment. Therefore, the effect of performance evaluation is also examined. Economic performance evaluation is detrimental to environmental regulation and ULGUE, while environmental performance evaluation significantly contribute to both. Furthermore, economic performance evaluation and environmental regulation can synergistically promote ULGUE, however, environmental performance evaluation failed to have the same synergistic effect. Notably, when the ratio of economic performance evaluation to environmental performance evaluation was 2:8, performance evaluation and environmental regulation reached the optimal level for promoting ULGUE. Therefore, to improve ULGUE, it is necessary to establish and strengthen the constraint mechanism of environmental regulation on carbon emission from urban construction land. Meanwhile, local governments' performance assessment mechanism must be improved and the ratio of economic to environmental performance evaluation should be reasonably configured. [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]

The production of bio‐ethylene is a promising way to replace fossil‐based ethylene production, reducing greenhouse gas emissions and working towards China's carbon neutrality goals. This study elaborates on five bio‐ethylene technological pathways: first‐ and second‐generation bioethanol dehydration, direct and indirect thermochemical synthesis, and methanol‐to‐olefins (MTO). It retrieves information about them from commercial patents and the scientific literature, and comprehensively assesses their potential for application in large‐scale ethylene production in China. The techno‐economic feasibility of these five technological pathways is discussed in terms of feedstock availability, investment level, technological development level, and political issues such as the carbon neutrality goal to which China's government is committed. Overall, two pathways (indirect thermochemical synthesis and MTO) exhibited competitive minimum ethylene selling prices at 5243 yuan/t (822 USD t–1) and 6767 yuan/t (1061 USD t–1), respectively, of which both are lower than the average ethylene market price of 7000 yuan/t (1098 USD t–1). In comparison with the conventional fossil‐derived ethylene, bio‐ethylene could decrease carbon emission by 3.2%–15.1% under a scenario of 20% bio‐ethylene substitution in 2019, showing promising potential for decarbonizing the ethylene industry and contributing to the achievement of China's carbon neutrality goals. © 2022 Society of Chemical Industry and John Wiley & Sons, Ltd. [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]

The successively proposed carbon peaking and carbon neutrality have not only set new goals for the green and low-carbon development of China’s economy, but also demonstrated China’s further determination and sense of responsibility for a greater contribution to address global climate change. Considering the importance of carbon peaking and carbon neutrality in the course of achieving the Second Centenary Goal (1949-2049), it is necessary for China to make scientific planning for the roadmap of carbon emission reduction, carbon peaking and carbon neutrality to ensure building a great modern socialist country under carbon constraints. More specifically, the optimization and realignment of energy structure, industrial structure, production and consumption structure, the rational planning of afforestation, and the vigorous development of global carbon emissions trading will be the core strategies for boosting green and low-carbon development of China’s economy. [ABSTRACT FROM AUTHOR]

This study aimed to understand green finance's impact on fertilizer use and agricultural carbon emissions. We selected the macro panel data of 30 provinces (cities) in China from 2000 to 2019. The main research methods are standardized test framework (cross-sectional dependence, unit root and cointegration test), the latest causal test, impulse response, and variance decomposition analysis. Examined the long-term equilibrium relationship between green finance, fertilizer use, and agricultural carbon emissions. The results show: fertilizer consumption and agricultural carbon emissions have a positive correlation. However, green finance can significantly reduce agricultural carbon emissions. The causal test confirmed the bidirectional causal relationship between agricultural carbon emissions and fertilizer use. At the same time, verified one-way causality from green finance to both of them. Interpret the results of impulse response and variance decomposition analysis: among the changes in agricultural carbon emissions, chemical fertilizers contributed 2.45%, green finance contributed 4.34%. In addition, the contribution rate of green finance to chemical fertilizer changes reached 11.37%. Green finance will make a huge contribution to reducing fertilizer use and agricultural carbon emissions within a decade. The research conclusions provide an important scientific basis for China's provinces (cities) to formulate carbon emission reduction policies. China has initially formed a policy system and market environment to support the development of green finance, in 2020, the "dual carbon" goal was formally proposed. In 2021, the national "14th Five-Year Plan" and the 2035 Vision Goals emphasized the importance of green finance. It plays an important supporting role in carbon emission reduction goals, and green finance has become an important pillar of national strategic goals. [ABSTRACT FROM AUTHOR]