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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]

Under the pressure of global carbon neutrality, it is necessary to study the characteristics of carbon emissions and the trend of "carbon peaking" in countries along the "Belt and Road." Because most of these countries have not yet reached their peak carbon emissions, they still have great potential for growth, and peak carbon emissions are a prerequisite for carbon neutrality. This paper divides the countries along the Belt and Road into 9 country groups according to the level of economic development and industrial structure. Based on the carbon emission panel data of countries along the "Belt and Road" from 1970 to 2018 and environmental Kuznets curve (EKC) theory, a panel model was established for each country group for research. This paper analyzes the characteristics of carbon emissions and the trend of "carbon peaking" in these countries and analyzes the economic growth and carbon emissions in combination with the Tapio decoupling model. The decoupling relationship changes on the time scale as a supplement. The results show that in the study area, some countries have completely passed the "carbon peak." The reasons for this are as follows: first, the carbon peak is achieved through industrial upgrading; second, the "carbon peak" is caused by the drastic changes in Eastern Europe and the disintegration of the Soviet Union and deindustrialization; and third, the carbon peak is caused by poverty and population growth. Most of the remaining countries have not yet achieved the carbon peak. Among them, some countries represented by the Middle East are highly coupled with their economic development and carbon emissions. Middle-income and high-industrial-dependence countries are in the transitional period in terms of the carbon peak. Low-income and medium- and high-industrial-dependence countries are currently still in the stage of barbaric development. From the research on the decoupling situation, the relationship between the economic growth of countries along the "Belt and Road" and their carbon emissions has been improving in recent decades, and it is expected that a more ideal state of decoupling will be achieved in the future. [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]

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]

Biochar was recently included as a promising negative emissions technology (NET) in the Special Report on Global Warming of 1.5 °C published by the Intergovernmental Panel on Climate Change. Unlike other NETs, it can potentially be used to mitigate global climate change while adding to local resilience in countries highly exposed and sensitive to impacts of climate change, such as least-developed countries (LDCs). The study is as an empirical contribution to the, as of yet, underdeveloped literature on deployment of negative emissions technologies in LDCs in general and on biochar use in developing countries and LDCs specifically. Nine historical and existing biochar projects in Tanzania are mapped in order to analyse problems, goals and common trade-offs associated with small- to medium-scale biochar production in LDCs. The mapping is based on a literature and document study, interviews with project actors, and on-site visits to biochar projects during 2019. The paper gives support to the observation made in the biochar literature that while biochar has many potential socio-economic and environmental benefits, combining them in one single project is difficult. It is concluded that implementing biochar projects in Tanzania will likely involve trade-offs between the development and subsistence strategies and needs of local communities, the motivational forces of different project participants, and the uneven regulatory capacity of the state. We end by reflecting on the use of biochar projects to offset carbon emissions made elsewhere. [ABSTRACT FROM AUTHOR]

Global warming is caused by rising carbon dioxide concentrations, while ecological and environmental issues are becoming increasingly evident. Many governments' main objective in addressing climate challenges is to achieve carbon balance. Exploring the distribution and changing trends of carbon balance can contribute to carbon balance strategies. This study takes the Yangtze River Economic Belt (YREB) as the study area, analyzing the spatial and temporal dynamic changes in carbon emissions and carbon sequestration in the YREB from 2000 to 2017. The county-level supply–demand ratios and accessibility are calculated based on the enhanced two-step floating catchment method according to the dynamic flow radius. According to our experimental results, carbon emissions can achieve different degrees of carbon balance according to the flow radius. After carbon emissions flow between counties within the province, some provinces can realize the transition from carbon surplus to carbon balance. With the expansion of the flow radius and the increase in internal mobility, more counties can participate in carbon sequestration, and some provinces can achieve carbon neutrality after carbon emissions transfer across provinces. Hubei, Chongqing, Zhejiang, Hunan and other provinces with special carbon sequestration capacity are very sensitive to changes in the radius of carbon emission flow. In 2017, when the carbon emission flow radius is 50 km, the net carbon emission of the flow can be reduced by 3%. If the radius is increased to 200 km, the YREB can achieve carbon balance. This study can provide decision-making information for carbon emission ecosystem management in the YREB. [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]

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]

Background: The climate mitigation target of limiting the temperature increase below 2 °C above the pre-industrial levels requires the efforts from all countries. Tracking the trajectory of the land carbon sink efficiency is thus crucial to evaluate the nationally determined contributions (NDCs). Here, we define the instantaneous land sink efficiency as the ratio of natural land carbon sinks to emissions from fossil fuel and land-use and land-cover change with a value of 1 indicating carbon neutrality to track its temporal dynamics in the past decades. Results: Land sink efficiency has been decreasing during 1957–1990 because of the increased emissions from fossil fuel. After the effect of the Mt. Pinatubo eruption diminished (after 1994), the land sink efficiency firstly increased before 2009 and then began to decrease again after 2009. This reversal around 2009 is mostly attributed to changes in land sinks in tropical regions in response to climate variations. Conclusions: The decreasing trend of land sink efficiency in recent years reveals greater challenges in climate change mitigation, and that climate impacts on land carbon sinks must be accurately quantified to assess the effectiveness of regional scale climate mitigation policies. [ABSTRACT FROM AUTHOR]